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Reply to "How would you handle this situation regarding helping out an AC with money?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Best approach would be to help her with down payment to buy a small condo she can afford and then let her handle it.[/quote]This is probably what we would do. [/quote] I hate to tell you but this is an outdated idea and here is why: the less expensive the sale price of the condo, the higher the monthly maintenance fee The result: Buy a small less expensive condo under $200K will cost more than renting the same unit OR will cost roughly the same as buying a larger unit, with higher sale price , but less maintenance fee [/quote] Yup. And as condos age, the HOA fees go up. If the HOA is not well managed, then they have not planned for new roofs, water heaters (large buildings it's one big system), elevator maintenance, etc. Everything that comes with an aging building, x1000 for a high rise or even midrise condo. [/quote]
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