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The answer to that question depends largely on where you live. As a general rule, condominiums are not nearly as good an investment as a detached single family home. The reason is simple. There are usually many more condominiums available than detached single family homes. Condominiums are also being newly built all of the time, so if you purchase a condominium and attempt to sell it five years later, you will likely be competing against brand new units for a similar price. As a result, you generally want to avoid purchasing a condominium as an investment. If you want a place to live for a long time and you either cannot afford a detached home or are not interested in yard work and other general maintenance, a condominium may be perfect for you. Try not to think of it as an investment, however. In some cities, condominiums are the primary type of home and detached homes are rare. In these cities, condominiums may be a decent investment.
A condominium can be a great buy for a first home purchase on many ar
What else can I help you with?
Is purchasing a CD DVD duplicator a good investment?
No. Its not a good investment becasue right on your PC if you have music you want to burn onto a CD than you put it in and burned as much times you want on a blank CD or DVD.
Factors to Consider when Purchasing a Condominium?
Over the past few years, the value of condominiums in many new and luxurious buildings across the country have declined considerably. This makes it a great time for someone looking to move into a condo to go ahead and purchase one. While it can be a great time to purchase a new condo, there are several things that a home buyer should do before closing on the purchase of their new home. When purchasing a condominium, one of the first things that you should do is examine recent home sales. While the entire housing market has been unstable, condominium prices have fluctuated much more than other forms of housing. To ensure that you are making a wise investment, and not overpaying for the condo, you should see what typical sales prices have been in the building, and in neighboring buildings, over the past 6 months. If you notice that they have been lower than what you are being offered, then you may be overpaying for the condominium. As you go through the due diligence process of purchasing the condominium, you also need to verify that the condominium's association is in good financial standing. Almost all condominiums are members of a larger association, which handles the maintenance and repairs of the property. Since so many condominium owners have defaulted on their mortgages and gone into foreclosure, many associations have less annual revenue than they did in the past. When reviewing the association's balance sheet and income statement, you may find that they are in debt. If the association is in debt, there is a good chance that some of the amenities will be cut or your payments will increase. Similar to purchasing a single family home, you should also have the condominium inspected before you purchase it. While you need to have the inside of the unit you are purchasing inspected, you also need to have the rest of the property inspected as well. Be sure to have the inspector get a look at your building's roof, plumbing, and electrical systems. If they find that these are in bad condition, you could be charged with a significant special assessment in the near future to cover these repairs.
What is the best way to go about purchasing a building to make it into rental apartments in Texas?
the best way to go for it is online and search best option. purchasing and putting it for rent is a good option of investment and income.
Is it a good idea to invest on condominium hotel?
Good is a judgement and you are the judge.
Is't that good idea to investment in real estate?
To invest a real estate is a very good idea specially if you go a good company who offers a good investment and real estate property. Example the Fuente Triangle Real Estate Development offers many real estate opportunity like in condo-tels and condominium units in ramos cebu, club ultima in cebu and in boracay.. for more information you may call on this number +639302254821.
What is a good investment for first time home buyers?
A home.
What are some good investment firms in Nebraska?
You can check America First Investment Advisors, LLC out. They seem very reliable.
Why would Dublin Property be a good investment to buy?
Properties of all kinds in Dublin are lower in price after the real estate bubble burst a couple of years ago. Purchasing a bargain property and holding on to it for several years can be a great investment.
Is it wise to buy investment properties now that there is a housing slump in the market?
Even with the slump in the housing market, purchasing investment properties can still be a wise long term investment. Of course, as always the location is the key factor and the price. Due to the slump and the economy, there are lots of good deals out there for investers.
Is it a good idea to buy additional warranty insurance when purchasing electronic equipment?
These types of warranties are usually mostly profit for the people selling them and generally not a good investment for the amount that you pay for them. I generally do not purchase them.
Are used appliances a good investment for my rental property?
Purchasing used appliances can be a great way to save some money. I would suggest getting a warranty if possible.
Where would one put up their condominium for sale?
One could place his or her condominium for sale on Craigslist for instance. In fact condos are very popular in certain countries in the world as they promote a certain lifestyle, selling a condominium in Hawaii is advised on HiCondos, if the condominium is in Singapore, STProperty is a good place to list the property for sale. In any case PropertyGuru is a good website to sell and gather information about the local market.
