Skip to main content

First time home buyer wondering if buying a 2 bedroom would be a mistake

I'm a 27 year old single guy looking to purchase my first home. The only things I can find in my price range are 3BRs in crappy neighborhoods or 1 and 2 bedroom condos/townhouses in nice neighborhoods which is where I want to be.

I found a really nice modern 2BR 1.5 bathroom townhouse in a great neighborhood with a great school district in my price range.

I want to make an offer on it but I'm wondering if its a bad move since its not a 3 bedroom. I am not planning on this home being my long term residence to raise a family in. My hope is that I eventually meet a girl who I'll marry then have a family and move out of this place into a bigger home in like 7-9 years.

It's plenty of room for me right now and has extra space if I get a gf who moves in and even an extra bedroom if I wanted to live here with one child. Ideal location for work and seeing family and friends.

I'm hoping since it's in a highly sought after area in a really nice school district that I'll still be able to re-sell it in 7-9 years.

I also think getting 7-9 years worth of equity in a 2BR is better than renting or buying a crappy 3 bedroom in a bad neighborhood where I dont want to live. I should also add that I'm taking out a 15 year mortgage so I should build some decent equity in 7-9 years.

submitted by /u/dapperdon003
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/fri57e/first_time_home_buyer_wondering_if_buying_a_2/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear

Fast Rising HOA Fees on NYC Condo, No Budget Provided

My wife and I are first time homeowners and could use some advice on a situation we've been having with our management company and Board. We bought a condo in Brooklyn two years ago, and since then our HOA fees have climbed dramatically. In August of last year, our fees were increased by ~30% and just yesterday we received notice that this new figure would be increased by 16% as of June 1st. The by-laws for our building state that ten days before such a change goes into effect, the Board must provide unit owners with the itemized budget upon which the new numbers were based. This didn't happen last year, and when I asked the management company about it, they just kept vaguely insisting the Board had done due diligence. After I kept pressing, they finally sent a budget that was several years old, so obviously not the one that the new numbers were based on. When I asked the management company for contact information for the Board to get further clarification, I was told that th

How to create fidelity investments current bank statement for lender during escrow

I transferred a certain amount to my bank account to complete the minimum down payment required. The bank wants a current statement of the transaction. Unfortunately, fidelity only does quarterly statements so a December statement is not available and we are due to close next week. I called fidelity and they they can only provide a letter but the bank said that won’t suffice. Any way I can find or make one of my own that has my account number/name along with all the recent month’s activities? submitted by /u/bodaciousbeans [link] [comments] source https://www.reddit.com/r/RealEstate/comments/zmnnqo/how_to_create_fidelity_investments_current_bank/