am buying my first property. anyone who owns their own home?

[musika man]

a condo worth $287,750. my dream is when am 40 years old to own a mansion.

most somalis are content living in a ghetto cheap project housing and buying expernsive cars and furniture. if you don't own your own home, you are a begger. don't breed and plan a family in such projects.

[e!]

[quote="musika man"]a condo worth $287,750. my dream is when am 40 years old to own a mansion.

most somalis are content living in a ghetto cheap project housing and buying expernsive cars and furniture. if you don't own your own home, you are a begger. don't breed and plan a family in such projects.[/quote]


good for u sxb, but ur dumb..why buy a condo for almost 300k, when u can buy a 4 bedroom home in a nice area?

[Cilmiile]

own a condo = own air.

Get a freehold not a leasehold.

Own land not air.

[Ismahan445]

bad move my friend...but it depends on the area your buying. If I were you, I would own a home with that amount, renovate and then sell for more or keep.

[michael_ital]

a good investment still, but land will build more equity over time

[The-Screw]

Throw some ADT on that b!tch!

[PragmaticGal]

NEVER. I am a true nomad.

[Kramer]

You can get a big 4 bedroom for 300k -- why u wanna buy a condo which is just like renting and upscale apartment!

plus you have to pay strata fees (fees to improve the condo every other year --and it can be up to thousands)

Condos, however, can only be possessed from the outside of the inside walls and anything beyond that is controlled by what is supposedly a democratic rule of all of the owners of the complex. In other words, no, you may not paint the front door in purple and green stripes or chop down the messy willow in “your” front yard.

When you move into a condo you don’t just have neighbors. You have co-investors and you have enforced relationships that simply do not exist after the usual home purchase transaction.

[The-Screw]

i'll be a home owner in less than a year actually.


brother got excellent credit :}

[Bagamundo]

Good thinking music man. It's better to own something than to live in apartment raising kids.


You don't want your kids to move from one place to another like nomads.

[#1baller]

[quote="musika man"]a condo worth $287,750. my dream is when am 40 years old to own a mansion.

most somalis are content living in a ghetto cheap project housing and buying expernsive cars and furniture. if you don't own your own home, you are a begger. don't breed and plan a family in such projects.[/quote]


Congratulations bruh!!!!! Owning a piece of real estate is always a good investment for the future. I know... I purchased my house in Jan 2006 and I was so excited when my house was completed and I got my keys. When I was single...I thought about buying a condo also... but I ended up buying a new home instead.

If I were single now I'd buy the condo but I'm glad I bought a house because pretty soon I'll be having a new addition to my household this summer. You guessed it.....I have a baby on the way.

congratulations musika man....ya doing big thangs!!

[#1baller]

[quote="e!"][quote="musika man"]a condo worth $287,750. my dream is when am 40 years old to own a mansion.


good for u sxb, but ur dumb..why buy a condo for almost 300k, when u can buy a 4 bedroom home in a nice area?[/quote]


Not necessarily. If Musika Man's single then owning a condo is not a bad thing because realistically this will be his first step into owning real estate

Granted for the price he's willing to pay for the condo, I wouldn't pay that but it ain't my money or yours it's his. If he wants to pay that price for a condo he obviously must like the unit and the facilities.

[#1baller]

[quote="Ismahan445"]bad move my friend...but it depends on the area your buying. If I were you, I would own a home with that amount, renovate and then sell for more or keep.[/quote]


I don't think its a bad move. If he buys a condo within a metropolitan city then that is a great investment. Remember there's always single professionals who will buy these units once it's located within a metropolitan neighbourhood.

[musika man]

[quote="#1baller"][quote="Ismahan445"]bad move my friend...but it depends on the area your buying. If I were you, I would own a home with that amount, renovate and then sell for more or keep.[/quote]


I don't think its a bad move. If he buys a condo within a metropolitan city then that is a great investment. Remember there's always single professionals who will buy these units once it's located within a metropolitan neighbourhood. [/quote]

^^^

on the ball baller. am still single and this property is on the water front. it is a 2 bedroom condo and my uncle was selling on behalf a bank. i don't intend to move in cause it will bring a 15% return when leased. a 3 bedroom condo in the same area costs $349,000, so it is cheap, uncle connections. it is for investment. i won't live in the suburbs. not now.

[#1baller]

[quote="musika man"][quote="#1baller"][quote="Ismahan445"]bad move my friend...but it depends on the area your buying. If I were you, I would own a home with that amount, renovate and then sell for more or keep.[/quote]


I don't think its a bad move. If he buys a condo within a metropolitan city then that is a great investment. Remember there's always single professionals who will buy these units once it's located within a metropolitan neighbourhood. [/quote]

^^^

on the ball baller. am still single and this property is on the water front. it is a 2 bedroom condo and my uncle was selling on behalf a bank. i don't intend to move in cause it will bring a 15% return when leased. a 3 bedroom condo in the same area costs $349,000, so it is cheap, uncle connections. it is for investment. i won't live in the suburbs. not now.[/quote]

Then like i said dawg ...its a great investment once its within a metropolitan area. Even if you live in it for a short time then lease it you'll get a profit. I'm still in my 20's and I bought my 1st home but I'm not finished yet. I might still buy a condo as well within a year or so. I'll see what my budget is first. The key is you buy a condo that is in the initial stages before it is built. The price will still be fairly low then if you decide to sell upon completion you will make a decent profit based on the neighbourhood and the amenities available.

My older brother lives in Maryland and he owns 4 homes. He lives in one and the other 3 are investment properties that he gets an income out of.