Good Decision.
I've lived in my condo for about 18 months. The value has appreciated 35% during this time. Wow! Why can't my Roth perform like that!? No shit ...
I like my home. I got in on pre-construction prices, so I got a great deal. By the time the last pre-sale completed, they were going for 15k more than I purchased mine for. Cha-ching.
In a discussion with a coworker today, we decided that out of 70+ units, I have one of the 4 most desirable (for various reasons). That's nice. I picked my unit for different reasons, it was a great choice; even if it did cost a few grand extra for it.
This weekend I visited a new condo nearby. They're selling for the same price per square foot as ours; bout 150-200 more square feet total. They plan to build 210 units, WOW; three times as many as ours! They are also building out the development regardless if all of the units are sold. That's some MAJOR cashflow and overhead. These guys are big dogs.
I'd love to buy one, but alas, I cannot afford one, even if I sold my current residence. Even if I could afford the mortgage, the property taxes would drive me bankrupt!
How can I ever afford to move again? At this stage it would appear that I am doomed!
Now, I'm not considering marriage at this time. But, if, in the future, I should get married to a beautiful woman with a home and a career ... and we should choose to combine assets ... it's still almost impossible!
A couple that brings the exact same personal situation (as mine - salary + equity) to the table ... we could afford a nice sized chunk of home, but at the same time, then we would be totally dependent on BOTH incomes. Inevitable catastrophic financial failure (aka The American Way).
I'm just trying to think long term and the bridge is up, do not pass go, do not collect ... $200. What's that come to after inflation anyways?
-Dude
I like my home. I got in on pre-construction prices, so I got a great deal. By the time the last pre-sale completed, they were going for 15k more than I purchased mine for. Cha-ching.
In a discussion with a coworker today, we decided that out of 70+ units, I have one of the 4 most desirable (for various reasons). That's nice. I picked my unit for different reasons, it was a great choice; even if it did cost a few grand extra for it.
This weekend I visited a new condo nearby. They're selling for the same price per square foot as ours; bout 150-200 more square feet total. They plan to build 210 units, WOW; three times as many as ours! They are also building out the development regardless if all of the units are sold. That's some MAJOR cashflow and overhead. These guys are big dogs.
I'd love to buy one, but alas, I cannot afford one, even if I sold my current residence. Even if I could afford the mortgage, the property taxes would drive me bankrupt!
How can I ever afford to move again? At this stage it would appear that I am doomed!
Now, I'm not considering marriage at this time. But, if, in the future, I should get married to a beautiful woman with a home and a career ... and we should choose to combine assets ... it's still almost impossible!
A couple that brings the exact same personal situation (as mine - salary + equity) to the table ... we could afford a nice sized chunk of home, but at the same time, then we would be totally dependent on BOTH incomes. Inevitable catastrophic financial failure (aka The American Way).
I'm just trying to think long term and the bridge is up, do not pass go, do not collect ... $200. What's that come to after inflation anyways?
-Dude
posted by Epic Dude at
2:25 PM
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