dreamer100
Full Member
Cash: $ 16.15
Posts: 67
Joined: 20 Jun 2007
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| Should I sell? |
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I currently own a townhouse. On the positive side it is paid off and I pay low taxes. On the negative side I am frustrated by the time I spend on yardwork and other stuff. If I didn't have help I'd be totally lost.
I am at the point where I want to sell this and get a coop or condo for the same or lower price or even just rent and let the interest on the money from the townhouse go a long way to pay the rent.
Has anyone thoughts on how to make such a decision?
Thanks.
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Thu Jun 28, 2007 12:53 am |
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No-Brainer
Senior Member
Cash: $ 83.45
Posts: 986
Joined: 29 Dec 2005
Location: Oregon USA
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Do the math, that's the ONLY way to decide that I know of.
You can get some pretty solid figures from comparing rents of other properties and see how much a condo will cost you including homeowner fees and such.
Keep in mind, you can always hire someone to do the yard work and the cost of upgrading may be a lot more.
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Thu Jun 28, 2007 1:08 am |
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austin
Contributing Member
Cash: $ 7.20
Posts: 36
Joined: 29 Jun 2007
Location: Austin
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| selling townhouse |
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I would suggest either selling the townhouse or continue living in the townhouse. Keeping up the townhouse can be a pain.
But renting out the townhouse will probably be more of a hassle. Even if you get a property management company you will still have to check up on the property. It would be alot easier to just hire a lawn guy.
You could get a condo. But remember in a condo you wont have to deal with the hassle of maintenance but you are paying for maintenance in the form of condo fees.
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Fri Jun 29, 2007 8:54 am |
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Case-Face
Full Member
Cash: $ 0.35
Posts: 75
Joined: 21 May 2007
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| condo situation |
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A condo I think is a good investment, considering that a lot of my friends are buying those as their regular homes. Even renting these days can cost a bit, almost as much as paying a mortgage. It matters where you live, too. If you'd like to rent out the townhouse and buy a new place, you can make some money off the rent.
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Tue Jul 10, 2007 5:01 pm |
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