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What would you do?

My daughter is starting a university program that will take her four years to complete. Both of us want me to be in the same city while she’s there.

I can buy a condo for 100-125K cash; hoa + property taxes and HOI would be about $500-600/month, but local rents for the same sqft are about $1200-1500/month.

I’d lose the $350/mo interest I make in that CD, but I’d also lose the taxes I have to pay on that income, and I’d pay half in housing per month.

Basically I’d pay $60,000 in rent over 4 years but no maintenance. I’d pay roughly half that in property taxes/hoa/ins in that same period—and the property would increase in value.

What would you do? I hate hoa’s but I also hate throwing away rent.

submitted by /u/moschocolate1
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source https://www.reddit.com/r/RealEstate/comments/1suiwtr/what_would_you_do/
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