I live in New York City, and I live in a Coop which is very similar to a Condo. As an owner I agree the biggest negative is not having any personal outdoor yard (even a tiny one would be amazing) and the biggest positive is the diversity of activities with walking distance.
Hi Brittany, love this video! It brings back memories. My first home was a condo. 2 bedroom 1 bath and just under 1000 sq ft. When I sold it, I made a $100K profit. And then put that money as a down payment on a house that I later sold for a profit of $165K. I now own a house and have over $400K in equity. Buying a condo was the best decision I ever made and a great stepping stone to buy a house. And I also have a black and white cat like you do 😂 You are doing amazing financially. So proud of you! 😊
Ohh sounds like you picked a good spot when you bought 🙌...having a connected community of neighbours is a good point...how often do the condo fees get reassessed or raised roughly?
Yes, definitely in a good location! Typically our fees go up slightly every year to keep up with inflation and rising costs. In my opinion, they should increase this way and it's a red flag if a condo board hasn't raised fees in years.
I live in New York City, and I live in a Coop which is very similar to a Condo. As an owner I agree the biggest negative is not having any personal outdoor yard (even a tiny one would be amazing) and the biggest positive is the diversity of activities with walking distance.
Hi Brittany, love this video! It brings back memories. My first home was a condo. 2 bedroom 1 bath and just under 1000 sq ft. When I sold it, I made a $100K profit. And then put that money as a down payment on a house that I later sold for a profit of $165K. I now own a house and have over $400K in equity. Buying a condo was the best decision I ever made and a great stepping stone to buy a house. And I also have a black and white cat like you do 😂 You are doing amazing financially. So proud of you! 😊
Pros and Cons of Condo/Apartment Ownership (4 years later, my thoughts and advice). Sharing is very practical and meaningful.
Ohh sounds like you picked a good spot when you bought 🙌...having a connected community of neighbours is a good point...how often do the condo fees get reassessed or raised roughly?
Yes, definitely in a good location! Typically our fees go up slightly every year to keep up with inflation and rising costs. In my opinion, they should increase this way and it's a red flag if a condo board hasn't raised fees in years.
@brittanymorgan09 Hmm ya that's fair...makes sense I think 🙌