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Old 09-11-2004, 07:49 PM   #46
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And no tornadoes.

Don't forget the tornadoes.
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Old 09-11-2004, 07:56 PM   #47
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The one thing with condos are condo fees. I know several family friends who are paying anywhere from $200-$650/month on condo fees, depending on whether they are in a high rise, a townhouse and how nice the accompanying facilities are. When you add that to your mortgage payments, you would probably just be better off buying a more expensive house over the longterm, as then you're investing in your own property whereas condo fees cannot be reclaimed by you at time of sale.

I'd always prefer a house with no associated fees, but then again, houses are a lot of work, especially for those of us who end up shovelling snow for half the year.
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Old 09-11-2004, 11:55 PM   #48
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my condo fees are gonna be 140 bucks, so not too bad

if i bought a hous ei know id probably spend at least 140 bucks a month for upkeep and repairs and stuff

houses are a lot of work
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Old 09-12-2004, 07:56 AM   #49
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Quote:
Originally posted by anitram
The one thing with condos are condo fees. I know several family friends who are paying anywhere from $200-$650/month on condo fees, depending on whether they are in a high rise, a townhouse and how nice the accompanying facilities are. When you add that to your mortgage payments, you would probably just be better off buying a more expensive house over the longterm, as then you're investing in your own property whereas condo fees cannot be reclaimed by you at time of sale.

I'd always prefer a house with no associated fees, but then again, houses are a lot of work, especially for those of us who end up shovelling snow for half the year.
That's a good point but it really depends on the market. My condo fees are $210. For me a mortgage on a house still would be more than double what I pay now combining the condo fees and mortgage, plus any house I could buy would require thousands of dollars in renovations since housing here is so expensive that anything I could afford in mortgage payments would be a step above a fixer-upper.
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Old 09-15-2004, 03:03 PM   #50
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first house

Quote:
Originally posted by martha
Find out if your city helps first-timers. Some cities have programs that help first-timers get funding.

Isn't there also a federal program, called Fannie Mae or Sallie Mae or something???
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Old 09-15-2004, 05:03 PM   #51
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Fannie Mae is for home buyers Sallie Mae is loan program for student loans.
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Old 09-15-2004, 05:50 PM   #52
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Wow, ours are called

The First Home Owners Scheme

and

The Higher Education Contribution Scheme - which appropriately enough spells HECS.
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