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Reply to "s/o the worst financial decision you made"
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[quote=Anonymous][quote=Anonymous] 3. Buying a condo. Worst investment ever [/quote] Homes are not supposed to be investments. Investments indicate some rate of return. The market provides better investments than homes. IMO condos are a big rip off unless you put a lot of money down and plan to stay in it for a very long time. Condos and co-ops in DC have OUTRAGEOUS monthly HOA fees that are often $500 or more and special assessments are always around the corner. The only way I'd buy a cond in DC is if the market collapsed and I could a good one for cheap. There are so many risks that come with buying into a crappy condo property that you could be held liable for that it's nuts to buy one just to "own property." Real estate includes ground.[/quote]
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