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Thinking about dropping 550k for a 1/1 condo.

It's within the budget. It's a 1/1 condo in a medium sized city in Florida and a huge, desirable tourist destination. HOA feels are reasonable by south Florida standards. Recent comps in the building all come in right around that price point.

Didn't think I'd ever drop so much on a condo. My questions are as follows:

  • Think this would be a good investment if I decide to sell 10 years from now?
  • Are there any major pitfalls from buying property smack in the middle of a huge nightlife/tourist area?
  • Am I crazy for paying so much, for so little space? Price per sq-ft comes out to ~$600

edit: I am single and have no desire to settle down.

submitted by /u/Chuddy-McChudderson
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1w67710/thinking_about_dropping_550k_for_a_11_condo/
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