Before buying a condo… (part I)
May 6th, 2008
There are a lot of things to keep in mind when you are planning to buy a condo. You cannot just shop around and start calling all the numbers you see on ads (assuming the price fits your budget) without having knowledge about condo/property concerns.
Before you check out a condo, make sure it is located in an area where the real estate market value is high. The price might give your pocket a little pinch but believe me, buying a condo, say, in Manhattan, is better than buying a condo unit in some isolated place in Arizona (Arizona is by far the leading candidate for plummeting real estate values). After a couple of years maybe, when you get tired of your condo (or you can’t afford it anymore), you will be pleased that you bought a house in the city since you can sell it double the price.
Photo taken from http://internationalpropertyinvestment.com