Condo Conversion Craziness

[Happy Monkey]

My condo association is also flipping apartments into condos, but luckily I'm in a unit that was already a condo.

Originally Posted by Kitsune

I’m tempted to break the rental cycle and purchase something, anything, to at least start “riding the escalator”.

Rent money is down the drain. If you buy, you are building equity, and in a growing housing market your equity grows faster than your savings probably would. If it grows fast enough, you can then do what the snowbirds are doing, and get a house in a cheaper market. Of course, living in hurricaneland, you do get some risk with ownership, so you'd need good insurance.

My condo has tripled in value in six years, but I'm too stubborn to move out to the boonies to take advantage of it...