Townhouse vs Condo

[Festus Edward]

Hello ppl,

So my lease expires in a little over 60 days and I'm suppose to make up my mind to buy a property. Here's the scenario,I've spent about 80k on renter between a period of 3yrs at my current apartment and its no longer funny. Especially now knowing that if I had paid this much on a property I own, I possibly would have gotten 50k or more in equity. The thing is I 'm single and still like my city life and central location. I thought about getting a townhouse around my area but they re well over 400k lowest plus I'd be too lonely leaving in a 2/3 bed all by myself. Is buying a 2bed condo worth it, as an investment in terms of resale? Open for advice.. Thank You.

[Thomas S.]

No buying a condo is not worth it. To be honest investors view renting is less expensive and probably better suited to your life style than owning. A home is a personal life style choice and will likely in the long term cost twice what it will ever be worth.

Continue renting, save your money and invest in a income property if you wish but do not consider renting as throwing money away. Think of renting as actually saving money.