Reply to With a 70k salary, should my daughter buy a condo or a house?

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Reply to "With a 70k salary, should my daughter buy a condo or a house?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How old is this condo?  New(er) build with contemporary features would be a better risk than buying an older building that will need expensive maintenance and special assessments. [/quote]

Mine has never had an assessment (20+ years). An older complex has a financial track record. A new organization does not. Ask about that when you choose one.

I think many of you do not own condos (like the ones saying they do not appreciate) and are just spouting ignorant comments. [/quote]

I own one in MoCo, and other than in rare locations, they do appreciate but not much.

I bought my condo in 2014 for $430K and it's now $510K according to Zillow.  Per an online inflation calculator, something purchased for $430K in 2014 would need to be worth $558K just to have kept up with inflation.  So, no, it hasn't been a great investment, especially when compared to what SFH prices have done.  I bought it at a time when I was not ready for tons of maintenance and everything else that goes along with home ownership, so it was still probably the right decision at the time.  I can just objectively say it hasn't been a great investment.[/quote]

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