Would a townhouse/condo be a good first home for someone to buy out of college? Just curious, I always like to keep an eye on the market, was surpised at some of the townhomes going for sale for reasonable prices in North County SD.

 

get a house

 

any explanation for this response? I know regular homes gain more market value over time than townhomes/condos. I figure I'll be able to get into a home easier after college and not struggle with a high mortgage. I don't think I'll be starting a family in my late 20's h:

 

:werd:

get a house.

I would only buy a condo/townhouse as an investment in a high growth area. I would also sell it within 5 years.

 

So you would only get a townhome as a second place? Something you can rent out, etc..?

 

True, A house is a good investment

 

I would get a townhouse cause thats al I can afford in my area. Shitholes in my area go for over $300,000 so a decnt house is way out of the question for me for a while.

 

One thing I am going to try to do is buy a house in Mexico. I should be getting dual citizenship sometime this summer, so I'll be able to own land. The homes there are very cheap compared to here. I figure I could rent it out and make a few hundred a month on it and pay for it at the same time.

 

If you want to make some money and live in your own house, buy a duplex and rent out the other half for the price of the mortgage + or - depending. I just bought a house and love it because I own everything, including the land it's on.

 

For my area the houses in my price range were shitholes...so I was able to get a condo in the same range that was very very nice. It is also in a good neighborhood and the resale value should only go up. I only plan on staying in it for at most 5 years and as little as 2 (2years allows me to avoid capital gains tax). Not to mention my money is now going towards something of value...unlike rent which you basically piss away each month...so when I buy a house I should be getting a decent return on my investment.

If houses are nice where you are and are in your pricerange go for a house...but having a condo is a good deal as well.