Reply to Is buying a one-bedroom condo ever a good idea?

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[quote=Anonymous]I've owned two condos and loved both.  One was a one bedroom in a popular neighborhood in a major city, got lucky on the real estate market timing and made a huge profit.  Took that down payment and bought a 2 BR here.  I know my 2 BR in an established DC neighborhood hasn't appreciated as much as some of my friends' homes in neighborhoods that were gentrifying, but I haven't lost money and I love where I live.

Frankly, I think there is a healthy market for people who want to live a walkable life, and be close to work and activities.  Just as you love living downtown, so do others.

I will point out that both buildings were well managed, with stable financials.  Agree with PPs to check the rules about renting.  Also check for red flags, such as large or frequent special assessments, which would indicate that the building has issues or they are not charging a high enough monthly assessment to care for the building.  Beyond that, you have to decide what is important to you.  Rooftop deck?  Indoor gym?  24 hour doorman?  And what are you willing to pay for those conveniences?[/quote]

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