Buying a Condo in Austin

[Prasanna C.]

Hello all,

We are looking to buy a condo in Austin area for us to live in for the next 5-6 years. But the condo price is $350k for 2000 sq ft. Not sure if it retains the value over a period of 10 years.

We are also looking to buy existing SF homes with reasonable price. Nothing is available for $350k unless it is 25 yrs old and in need of some repairs.

We are now confused about whether to go for an existing old house , which will be around 20 yrs old or a new condo? What do you think is the better investment over a period of 5-10 years?

I know no one has crystal ball, but appreciate your feedback and any input.

Thank you!

[Brian Filmore]

Keep in mind HOA costs. Personally, I'd rather own an older house with a low or no HOA rather than a condo with a $300+ HOA fee.