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Updated almost 9 years ago,
My Dilemma - Condo or SFH
Not sure if this is the appropriate section - but i figured this could be captured under the 'beginners' topic.
As mentioned in my first BP post, I am leaving my Philly rental this summer and relocating to Wilmington, DE. This is because i am tired of the 40 min one way commute and also spending an excessively high amount for rent.
Incorporating my long term goal to leverage RE as an investment, I've narrowed down my choices to purchasing a condo in downtown Wilmington (150-200k, 1BD, 1BA) or a SFH in North Wilmington (<300k, 2-3 BD, 2 BA).
I'm a single professional, and rarely have visits from friends/family since a majority are in NYC or Jamaica. I'm leaning more towards the condo simply due to convenience (millennial mentality), but get hit with a 380-500 HOA fee) compared to having a large home that I truly don't need and i'm long past the days of house shacking.
Long term - it's highly probable I won't be in Delaware for work 5 years from now, and that's a factor that would prompt me to have a property that I would look to rent over time if i am forced to move.
I have a lot to learn and clearly this is a decision based that will have personal and investment ramifications. Any feedback from experienced individuals or those who have had this quandary would be very much appreciated.