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acctnt shan

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why not try for a house? Condo's must have the same price as houses, no?

Lots of reasons!

1. I don't want to deal with the upkeep on a house just yet.
2. I don't need that much space yet - just me and the BF :)
3. I like living near the city, so it's mostly condos/townhomes. We'd have to move farther out to be able to afford a house in a decent neighborhood, and that would make for a long commute.
4. Easier to re-sell a condo, and the value tends to be a little more insulated - city living doesn't typically fluctuate or decline the way suburban homes can.
5. You can (usually) get a nice condo for a lot less money than you can get a nice house.


See? I've thought it through. :D Although it's not even definite that we'll buy this year - we're going to look and see, but if we're not happy with what our money will get us, we'll probably rent for another year and save up some more.
 

pjbleek

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Lots of reasons!

1. I don't want to deal with the upkeep on a house just yet.
2. I don't need that much space yet - just me and the BF :)
3. I like living near the city, so it's mostly condos/townhomes. We'd have to move farther out to be able to afford a house in a decent neighborhood, and that would make for a long commute.
4. Easier to re-sell a condo, and the value tends to be a little more insulated - city living doesn't typically fluctuate or decline the way suburban homes can.
5. You can (usually) get a nice condo for a lot less money than you can get a nice house.


See? I've thought it through. :D Although it's not even definite that we'll buy this year - we're going to look and see, but if we're not happy with what our money will get us, we'll probably rent for another year and save up some more.

okay good answers, but the tax breaks may be helpful? as a first time home buyer it may be worth it in the long run. but I wouldn't suggest buying here in Mass.....its a crazy market
 

acctnt shan

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Is a condo another word for a flat? For some reason I associate the word with beaches :ninja

Umm, kind of like a nicer version of apartment, that you own rather than rent.

And PJ, the big benefit tax-wise IMO is being able to deduct your mortgage interest, which you get to do regardless :) The kicker is that you need 2 months of income in Mass. to buy a place, and my BF isn't starting his job until the end of June, but our lease is up end of July, so we'd have to see if our building's mgmt would let us stay an extra couple months.
 
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