Buying a home/city apartment in Salt Lake City - Is this a good idea?

[Paul Park]

Hi all,

I am new to this forum and I was wondering if I could receive any advice from an experienced real estate investor. 

Currently, my situation is as follows:

- moved from CA to UT for work.

- I have 4 months left on my apartment lease.

- I am looking to move closer to Salt Lake City. (currently 15 miles out)

My question is, should I invest in a city apartment? Is that a terrible idea..? Mortgage would be slightly higher than rent, but I would be investing the money rather than losing it. Also, there is a huge HOA fee in city apartments upwards of $300-$400/month.

I am torn between the convenience of living across the street from work with amazing views of the mountains and actually making a smart investment.

[Travis Fisher]

Would this apartment be just for you or will you be renting out part of it?  If you're just moving downtown I'd call that less of an investment and more of a lifestyle change.  I wouldn't consider my home an investment unless it's making me money.

Can you buy something more like a duplex that lets you earn some rental income along with being downtown?