Bernadette S. Says...
All the blogs seem to have valid points.
House vs condo.
It depends on how long you would like to keep the property.
If its less than 5 years, I would go with a house.
The real estate market is v e r y slow and it is very hard to sell a house at any income bracket.
The sale of a condo is even slower.
But like any big-purchase investment, timing is important.
It looks like your heart is already set on a condo.
I suggest that you look for a condo in the highest income bracket that you can afford, then bargain your way to the most bottom price acceptable price.
Expect to occupy this place for 10 or more years.
Since you travel a lot, and if money IS an issue, Get a condo with an extra "Guest" room, decorate it "Internationally marketable", Place your adds in the global traveling market.
This money alone will probably covers your mortgage and maintenance fee.
Well, than again you may not want to deal with the headache associated with this plan
Another plan, would be to look for an 'Up coming" neighborhood, buy dirt cheap, do the minimal repairs that is acceptable to you and the community, yes, they do come with strings attached.
Depending on your household structure, get yourself one or more bull dogs along with a shotgun (shotguns are legal in the states)
The tangible way to bring the purchase price down is via comparative historical homeowners tax analysis of the neighborhood coupled with past repairs history of the property.
The most critical arguable repairs are structural changes, plumbing and electrical work done one the premises.
good hunting,
Bernadette S.
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