Too many first-time homebuyers visit new condo developments that push a fun lifestyle, owning-is-cheaper-than-renting sales pitch, along with attractive financing packages. They don’t think about what will happen when all the units are sold, the developer moves on, and the project becomes part of real-world economics. The bottom line is that if you know you’ll be moving up in a few years, you’ll need an if-we-buy-this-can-we-sell-it exit strategy in mind. Look at other similar condo projects in the area and check out how they’ve held their value over the past few years. Have your realtor pull the sold records for the past year and see where values are going.
No comments:
Post a Comment