my mom and I are going to check out a few condos for sale tomorrow. Mom has agreed to help me with a down payment. I live in LA, so I’m looking for a small condo in a neighboring (less expensive) county. My mom has her own home so I’d be living there independently or with a roommate.
Does anyone own their own place? Do you manage ok? Do you think now is a good time to buy?
I bought my own house this year. I think this was a good year to buy, for me.
where do you live? do you have housemates?
I have owned four homes. Still have two of them. The one I bought in California was the biggest mistake of my life. But the bubble won’t burst again probably.
@tomcat: 4! did you invest/ flip the properties? where in california did you buy?
San Diego. Bought it for $510,000 in 2004. When I had to move in 2008 it was worth half that. That’s when I got sick. Finally short sold it in 2015 for $360,000. Until then I rented it out and threw away about $1500 a month.
Now it’s finally worth more than I paid for it. Thought I would flip it but no such luck.
Did you use VA loans? 
Man, I always thought property was a sure bet. I’ve looked in SD, condos there are about as comparable in LA. Location may be everything, but timing is a close second.
Not on the house in California but with all the others.
So did I. It is a nice little perk. 
I was in the Army. 
I was in the Navy and the Marine Corps
I bought a house when I was 23. I found the upkeep to be hard because I’m not big on doing outside work but that’s a non issue with a condo. Now is the buyers market so it’s a great time to buy
Yes, I believe it to be a buyer’s market. There isn’t a lot on the market but there are a few gems among the rough. Condos typically aren’t as sought after investment-wise, hopefully I can find a place that’s affordable in a good neighborhood.
Probably a good time. They say things will be more expensive due to pandemic. I bought a house once. Worst mistake was selling it. I had years of dreaming I got my house back. Still do. I lost my freedom, when I sold it.
I got an apartment back in 2016.
This was the first time I’d properly lived on my own. It has gone quite well. The first 6 months were hell, as I was very disturbed by the new routine, and I found it very hard to get off the ground.
Once this period was over, I never really looked back. I am so grateful my parents supported me in not charging too much rent when I lived at their place, otherwise I’d never have got the deposit together
Things are tough with Covid . Some people are going to be desperate to sell, so I think you might have a chance at negotiations
Good luck!
@Joker: Thanks for the input. I know living independently is the other challenge in this situation. I’m probably going to invite a friend as a roommate so I don’t get overwhelmed with the payments. I also owe a debt of gratitude to parents for the ‘nearly free’ living. This experience is exciting and a bit nervous not knowing if I can make it on my own.
I own a mobile home. My mortgage for my home was $250/month. Keep in mind if you go that route that mobile homes are cheaply made so eventually you’ll have to do a lot of repairs.
I don’t want to put you off - just be aware you may take a few months to adjust to living alone.
Not sure if I could tolerate someone else in my personal space