Anyway, not worth worrying about. The sun is shining, my house is selling and I am feeling right with the world. I found this gorgeous apartment with a HUGE terrace on the 35th floor of a swanky building downtown.
I have a real estate agent trying to talk me into the advantages of buying a condo instead of renting something. She may just be trying to get herself a larger commission. Not sure about that.
By the time you pay HOA dues+property taxes+any maintenance or upgrade costs it is going to be about $1500 a month in the nicer condo buildings. For $3000 a month I can get a really nice apartment. If I invest the proceeds from the house I would be getting about $4000/mo extra in dividends so this would not be impacting my money to live on at all.
Yes, property values may go up and I could get a really good return on my money if I bought, but that is not guaranteed. The economy could implode and I could be left holding the bag.
Also, at some point in the future when I no longer have a Wolf Cub's needs to think of, I would like to really sell everything I own down to what will fit in suitcases and go full on vagabonding around the world. Maybe put a box or two in a friend's garage. If I buy a condo, I would have to deal with the sale process instead of just walking away.
Also, what if I decide I don't really like the whole downtown urban living thing after a while. If I am renting it is easier to change my mind.
Hmmm. Things to think about.