Zillow Advice RSS: Question-Discussion-Guide,Home Buying,The Fan- Richmond- VA http://www.zillow.com/advice/The-Fan-Richmond-VA/home-buying/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Buying a condo or renting for a few years? http://www.zillow.com/advice-thread/Buying-a-condo-or-renting-for-a-few-years/498061/ Hi<br/><br/>I'm looking at condos in the 120-130k range in my area (near a univeristy, downtown area, high rental percentage in the area). &nbsp;With rates low, and rising, and housing still pretty low, and rising I thought it would be a smart move to buy. <br/><br/>Now that I'm in the midst of the financing, I've learned:<br/>1) you can't always rent a condo, and that would suck in a few years when a 1 bedroom isn't enough for me <br/>2) if you have a bad HOA (and how do you determine bad?) you can get screwed with special assessments <br/>3) condos don't appreciate like a SFH. &nbsp;<br/><br/>I'm not trying to use this as an investment property, but I would like to live there for 3-5 years, rent it for a few more, then sell for somewhat of a profit. &nbsp;I'm single and in my late 20's, and an entire home is more work than I want to deal with, and I can live in a much more central location.&nbsp;<br/><br/>I'm new to this and am open to advice or warnings. I hear a lot of horror stories, and it's very possible I'm getting in over my head and should just rent and invest the downpayment money elsewhere.<br/><br/>Thanks for the help!<br \><br \>10 replies Thu, 20 Jun 2013 13:09:00 GMT http://www.zillow.com/advice-thread/Buying-a-condo-or-renting-for-a-few-years/498061/ 2013-06-20T13:09:00Z Buying a condo or renting for a few years? http://www.zillow.com/advice-thread/Buying-a-condo-or-renting-for-a-few-years/498061/ Hi<br/><br/>I'm looking at condos in the 120-130k range in my area (near a univeristy, downtown area, high rental percentage in the area). &nbsp;With rates low, and rising, and housing still pretty low, and rising I thought it would be a smart move to buy. <br/><br/>Now that I'm in the midst of the financing, I've learned:<br/>1) you can't always rent a condo, and that would suck in a few years when a 1 bedroom isn't enough for me <br/>2) if you have a bad HOA (and how do you determine bad?) you can get screwed with special assessments <br/>3) condos don't appreciate like a SFH. &nbsp;<br/><br/>I'm not trying to use this as an investment property, but I would like to live there for 3-5 years, rent it for a few more, then sell for somewhat of a profit. &nbsp;I'm single and in my late 20's, and an entire home is more work than I want to deal with, and I can live in a much more central location.&nbsp;<br/><br/>I'm new to this and am open to advice or warnings. I hear a lot of horror stories, and it's very possible I'm getting in over my head and should just rent and invest the downpayment money elsewhere.<br/><br/>Thanks for the help!<br \><br \>9 replies Thu, 20 Jun 2013 13:09:00 GMT http://www.zillow.com/advice-thread/Buying-a-condo-or-renting-for-a-few-years/498061/ 2013-06-20T13:09:00Z