Do you hesitate to buy a condo fearing you won't have the ability to resell it for a profit? It is understandable considering how the condominium market took a dive many years back. Though your fears may be justified, it is important to consider all potential risks vs. potential rewards.
You would be making a foolish mistake by rejecting a condominium complex or neighborhood as a viable alternative to a home. In most cities, fort lee condos are once more becoming an excellent value and a chance to acquire moderate appreciation than a home. If you diligently comb the condominium listings, you've got a 50 percent chance to stumble on a bargain condo.
Homebuyers who lost money on a condominium bought it within a couple of years of the summit of the market. Just sharp condominium owners were smart enough to unload their property and money in their equity.
Here are some ways to find a Fantastic opportunity:
-Nearly everybody is pessimistic about future appreciation prices.
-Your entire loan payment including principal, interest, real estate taxes, insurance, homeowner fees, and all tax deductions complete less than renting a comparable apartment.
-Condo worth on the present home market is significantly less than the cost of building a comparable condo.
-The vacancy rate for rental apartments is below 5%.
-You witness powerful positive motion one of the neighborhood economic indicators (employment rate, retail sales, new automobile purchases, and bank deposits, number of new business startups).
-The characteristics of the condominium units you are viewing include some unique and extremely sought after advantages like a special design, beautiful View, or desired location.