Reply to Is living in a condo considered a failure?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]No, plenty of our well off Alexandria friends are downsizing to condos in the DC area as we become empty nesters and near retirement. Condos are great for those starting out and those who don’t want the hassles of home ownership at retirement. [/quote]

Yes, flushing $3k 4k 5k 6k down the drain in rent every month until you croak is so wise. Avoiding all those "hassles" and making corporate landlords filthy rich. :roll: [/quote]

What rent? You buy a condo just like you buy a house. The monthly fee is for utilities, pool, cleaners, landscaping, emergency fund, etc[/quote]

+1 and it's not 3-6k. Our condo has a $250/mo fee that pays for water, trash/recycling, landscaping, and building maintenance (it is a small building and does not require a ton of maintenance, there is a decent reserve fund for any major fixes that might come up).

Condos similar to ours have sold in our neighborhood for about 20% over what we paid 5 years ago. It's not the crazy increases you've seen in SFHs, but still a decent return on investment. And we live in it. You could do a lot worse (like not having any equity at all).[/quote]

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