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I don't understand people who bash condos.

I don't understand people who bash condos. Genuinely wondering what I am missing or simply not understanding. Maybe it's regional?

Less appreciation? Yea, that means you buy it cheaper. That's a win. That's like saying, "Condos stink because they are so affordable because they haven't gone crazy". Meanwhile, are you that confident that paying $2mm for a house in Seattle or CA will mean you can sell it for $4mm one day? Things that go crazy in price can also correct in price too. Why does everyone ignore that symmetry?

HOA? Great, I don't want loud neighbors with 7 cars parked in the yard. I like rules and regulations. I prefer quiet clean neighbors.

Cost increases? Try living in a house with tax increases and a string of endless $20k repairs (roof, HVAC, driveway, siding, windows, foundation, electrical, etc) In a condo, a new roof or driveway cost is shared by 200 people. Super efficient and affordable.

I bought an affordable condo 20 years ago. Paid cash. Upgraded the kitchen and bath for $5k each. Lived cheaply for 20 years in a HCOL area. Spent $0 on maintenance. Spent zero time on maintenance, as well. With no mortgage, with such low overhead, I stacked even more cash for those years. Sold it for double what I paid. Bought a house in HCOL area for cash. Condo worked out great for me. Cheap living. Good neighbors. Zero hassles. Profit.

The only exception I'd make is the Florida condo situation where condo owners are stuck with these new costs due to new laws and neglected maintenance. I agree that would suck.

submitted by /u/Far_Pen3186
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1o4r77h/i_dont_understand_people_who_bash_condos/
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