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Check my possibly-stupid condo-buying idea? (CA)

I'm moving to a new town. I'm ... 90% sure I want to live there.

I was planning to rent for a year or two before buying, but the rental market is a little nuts. Very much a landlord's market. Weirdly, the condo market is a buyer's market. (Or not so weirdly considering the HOA fees average like $800/month.)

I found a condo offered at $240k. I can afford that easily, even with with added 800. However, I worry about buying and then regretting the move. My possibly-stupid question is, can I suggest a deal where, like, I pay 20% down now, move in, don't pay a cent for 24 months, and then after that point either pay the owners teh balance or just say thanks and we both move on?

They'd have made $2k/month in 'rent'. So no real harm done to them, except they'd be stuck with the hassle of putting it on the market again (and owning it for those two years). And my risk is lower cause if I'm like, 'nope, hate it here,' I'm just out rent-equivalent, too. But if I do like it, I can pony up the 80% and I'll have effectively lived there for free for two years.

Does that make sense? Thoughts, advice?

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

source https://www.reddit.com/r/RealEstate/comments/1w5grdc/check_my_possiblystupid_condobuying_idea_ca/
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