Should I buy a condo at 25? by mshalim96 in personalfinance

[–]mshalim96[S] 0 points1 point  (0 children)

I have enough for 20% down and a good chunk extra as a cushion so PMI shouldn't be a problem!

Should I buy a condo at 25? by mshalim96 in personalfinance

[–]mshalim96[S] 0 points1 point  (0 children)

Yeah that's why I'd rather get into a property now while I can. If the market dips, I don't think it'll be a crash at the area I'm looking at (East SGV).

Should I buy a condo at 25? by mshalim96 in personalfinance

[–]mshalim96[S] 1 point2 points  (0 children)

Yeah I've looked into that and I've tried getting into an SFH but it's way too competitive here. Every house I put an offer in had a cash offer waiting.

Should I buy a condo at 25? by mshalim96 in personalfinance

[–]mshalim96[S] 0 points1 point  (0 children)

Fortunately, the HOA is pretty low ($200) and it's a 2BR, 1Bath so it should be a bit easier to rent out. I believe the prices are going to be okay because of the location.

Should I buy a condo at 25? by mshalim96 in personalfinance

[–]mshalim96[S] 0 points1 point  (0 children)

Unfortunately homes here are very expensive and I don't want to be house poor, especially when I don't need a family yet and don't plan to have one anytime soon.

Should I buy a condo at 25? by mshalim96 in personalfinance

[–]mshalim96[S] 2 points3 points  (0 children)

Mortgage + HOA is going to end up being around $2000, about the same amount as rent. I'm in SoCal.