You just graduated Grad school and landed your first job at a fortunate 500 company. Now it’s time for you to make some real life investments. You decided that you wanted to purchase your first property instead of renting. Renting can be a great option but will not be a great investment, nonetheless owning a condominium is more of an affordable route if wanting to own a property. In my research paper I will discussing the benefits of owning a condominium as well as becoming finically ready to make your first purchase.
Condominium is commonly known as a condo; it is a real estate that is divided into seven or more dividends. Often times condominium is mistaken for apartment building because of its structure. There are in fact, condominium that are single family structured, but are located in a gated community. Condominiums range from studios, villas, flats to even a penthouse. Each section is privately owned by an individual. Many people prefer to own a condominium because in the long run its cheaper than renting an apartment. In some cases, when doing a price to rent ratio, you find that it makes more sense to own a property. A price to
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This can cover a list of things such as, the up keeping of the condominium, maintenance of common areas, snow removal, trash removal and many more. A condo also includes amenities such as concierge desk, pools, indoor gym facilities, laundry rooms and other miscellaneous things. The utility charges fluctuate depending on the size of the condo you are purchasing and how old it is. The great thing about fees are that if you disagree with them you can discuss a decrease with the board. Owning a condominium can be one the best investment of your life. It is very important that you decided on the proper location and all the amenities you are seeking. Now that you have a brief insight about what a condominium is, lets discuss the down
Housing can reach incredibly large proportions and have various on-site features such as large pools or perhaps the house has more than two floors. Obviously, only the wealthy class can afford a property with features such as this. Some may view it as unnecessary and excessive to own such a property. Thoreau described his home in “Walden” not having plastering or a chimney. He only used the home to protect himself from the rain and winters. Also there are different types of communities to move into. Housing a century ago was different in that there were only two types of areas to live in. Someone lived in the large and busy cities or in small, quaint homes in the countryside. Also housing was much smaller and it was less expensive for someone to make their own
I decided to buy because I could make a profit when I want to sell it and I can make renovations to the area. After thinking it through, I concluded that my total budget for the house/condo was about $250,000 but I wanted to stay under that price so that I was not house poor (which is when you put too much money into a house to the point where you can barely pay for it or live). My apartment is in Teton Village, Wyoming since I am being a larger animal vet and they have a lot of livestock and ranches out there. This condo is located at 7680 Granite loop Road (Unit 651). This space has two bedrooms, two and a half baths, and is 1,720 square feet. My condo also has a beautiful view of the mountains, good prices ($110,000), and has a beautiful living area. The complex has an asphalt driveway, a pool, and an underground parking garage.I decided not to have a roommate because I can pay for the property myself and I wanted the space to
The decision of Young to rent the condominium will provide advantages in terms of security deposit and rental payments for previous months because she did not face a significant financial commitment to pay for it. If she wants to buy the condominium, large amount of down payment needed to be paid by her. Monthly sales broker fees, closing costs, condominium fees, deed-transfer taxes and property taxes should be taken into account in the cost of a condominium fees. The rental fee is more cheaper compared to the purchase of a condominium. Young also a very professional person in investment banking after completing her studies in master. Thus, if she expects to pay at a higher price in the future, this will change the ability to buy and ability to pay the mortgage nowadays. Young consider to rents because it gives her chances to make a distribution and expand its
Gentrification is a complicated term that gets defined in many ways by people that do not understand it; the term usually ends up being romanticized instead. It often gets defined by various people as the renovation of lower income neighbor
As the lease of my apartment is coming to an end it had me thinking of achieving my own American Dream of home ownership but as I do my research I find the dream is far from coming true. I am sure that the issue of housing prices and rent rates are what most of us Bay Area residents talk about and debate. It is an issue that needs to be addressed by the officials of the area, city mayors, affordable housing committees, social justice activists,lawmakers, and even employers. Skyrocketing prices, low inventory, and investors’ bidding wars are not only pushing the middle and lower classes out of San Francisco and the Bay Area out but will completely eliminate them.
...ss over the years. Camden builds value by maintaining a high-quality diverse portfolio of apartment homes focusing on the highest growth markets; employing capital recycling in maintaining portfolio while utilizing asset sales to fund acquisitions, development and share repurchases; and using conservative financial policies leading to sufficient liquidity and financial flexibility and maintaining positive and dynamic team work environment committed to being the best. Camden’s culture built on a dynamic pool of employees is key to its success.
Nothing can make you feel safer than owning a house, provided that buying a home will not result in financial problems of its own. Every year, a new wave of first time home buyers hits the trail in search of their humble abode. There are pros and cons to home buying. Certainly, there is the matter of timing and related financing programs.
The perception of the areas we live in, are of major importance to the well being of humans because the areas we choose to live in may very well affect our lifestyle. There are pros and cons to living anywhere in the United States and the most prominent factors are suburban and urban areas. Suburban areas contain more open land, and forests which are crucial factors in our environment, whereas urban areas contain more job opportunities and opportunities for investments, which result in higher payments. The factors associated with urbanization are buildings, factories, and huge amounts of pollution, whereas suburban areas contain more farms, plantations, and crops. Researchers are still debating whether urban
When someone makes the decision to buy or rent a home they must consider the advantages and disadvantages of each. In buying a home the primary advantage is that you actually own it. You can do whatever you want with it. Also, you are building equity as the years go by. “People today have problems saving for their future” (CNN Money, 2014). However, when they buy a home, the money they put down for a down payment is an investment. When the person sells the home they get back the down payment and the amount the property has appreciated in value. When looking at the advantages of renting it is easy to see the disadvantages of buying for some people. Even though you don’t get the money back that you put into it, renting could be a more satisfying option for some. This is because renting allows for flexibility. The person can move wherever as soon as there lease is up. Renters may see buying as “a reduction in lifestyle, moving to a smaller place, and perhaps a less expensive neighborhood.” (CNN Money, 2014). For example someone who rents an apartment enjoys how the complex keeps up the area and all the amenities it has to offer, and it is in an upper class part of town. However, when they buy they looks all the benefits, they have to do maintenance themselves, and move to an area they don’t particularly like to fit their price range.
The decision to buy a house is the biggest financial transaction and one of the most important steps one will ever make in life. When making decisions, as big as buying a new home many people fail to look at the pros and cons. The same can be used to give good reason for actions and behaviors when making an investment. Understanding the ten principles of economics will help to make the decision a lot easier. To start with, the choice to buy a house often deemed an exciting and momentous choice by most. The reason behind the statement is that prices for a house are considerably high, and thus the purchase of a home will significantly reduce the nest egg of an individual therefore, making the demand for a home price elastic.
Buying and owning your home is part of the American dream. Although the dream itself has since changed, the home still remains the main focal point. Today owning a home doesn’t necessarily mean a house. People now buy duplexes, cooperative apartments, and condominiums. For some families it could take up to a couple of generations before it’s able to have the capabilities of buying a home. To many people it means a certain achievement that only comes after years of hard work. It is a life altering decision and one of the most important someone can make in their lifetime. The reasons behind the actual purchase could vary. Before anything is done, people must understand that it’s an extraneous process and it is a long term project.
Most people, today, are looking forward to buying their first property. When individuals decide to buy a house those individuals would have to look at all their options and all the advantages and disadvantages that come from purchasing a house. The economy plays a huge role in the decision whether people will purchase a house, purchase a condominiums, or rent property.
When valuing the property, the figures should not be the only issue but also the demographic factors and the services offered. When valuing the property, everything within the property should be assessed. The items inside a house should be valued by the size, the cost and the age of existence, this includes the furniture’s and any other utensils that may be available. For items like the computer, the cost and the make are of importance. The car should also be valued if it forms part of the property and the model and the year of make are of essence. The surrounding of the property should also be put into consideration; the geographical location of the property should be put into consideration (Tucker Sundeep, 2006).
Students living on campus don’t have to worry about time because they live in the college. On the other hand, students who commute to school, have to worry about getting to class on time. Students living on campus don’t have to waste money on transportation or food since it is all covered under a plan. Unlike commuters, who aren’t covered under a plan, they have to pay more money to get to school as well as for food. Students who live on campus tend to know more people and they know more about what’s going on around campus. However, students, who commute, don’t have that advantage because they are home most of the time. Living on campus can be more beneficial than living at home in many ways.
Apartments can be very affordable in a rent-controlled neighborhood, and are much more feasible for families, or students just starting out on their own; whereas, in the country, you may have to buy a home or find hard to find cheap rentals. Transportation costs, groceries, taxes, and utilities are common expenditures for any adult. But, many may find that a large amount of money can be saved on these living expenses in a city.