# Thinking of selling my condo...



## Cory1990 (Jun 14, 2012)

My girlfriend and I have been thinking about this for a while, and I think we're going to be listing it soon. This was my first home that I got when I was making 18$ an hour as a forklift driver and my girlfriend was making a bit of money then as well as a waitress. Now I'm not working for anyone but I'm doing my own custom wood working fallowing my dreams. (I don't recomend leaving a job like I did at that pay) anyways I'm scraping by here making just enough to get by. We have a new (less then 5 yo) condo in a nice area a lot of old Timmers. We are the youngest owners in the area. But as of lately I am no longer liking it hear. The condo association came to my home today for the 5th time about me not parking my cars in the garage. They can shove it that's my work area and I tell them that every time. I keep 2 vehicles outside and they say I Need to keep them in the garage I have 2 parking spots outside as well. It seems that they just hate me around here.

Anyways since everything has been bothering me and the fact that i pay $1800 a month (just went up $400 for winter condo association) I can no longer afford this place. I don't even have 20% paid off so I know I'll take a loss on it but I'll be able to pay what I owe back and wipe my hands clean of it.

We looked at a place earlier tonight a double wide trailer  but it's in my price range and I won't be paying out of the ass for house payments it's not on land that's a huge downside it is on a lot 300$ a month and it has a nice small yard. It's a lot smaller but I think we could make it work. My condo now is a 3 bedroom open concept and I hate the layout.

Anyways there's HUGE positives to this
The good side of it will be
1. I can have a fish room (the one we looked at has a spare room that's a nice size) and would be a fish room small but works. 
2. No more condo payment that I'm drowning in.
3. I can do what I want and no more old people b****ing at me for how I dont park in my garage. 


But there are downsides 

1. No garage it has a car port so I'll most likely inlist my father and uncles help me build a small workshop for me.

2. I don't want to be called trailer trash  

3. It needs to have new carpet put in and the inside painted. But the price is perfect 


So do you guys think it's worth it? Should I keep looking? The only other I found in my price range is a small house in the city (I hate the city) has no driveway parking only on the street, small to no yard only in the front. And has a lot of serious wiring issues in the basement. And it is only a 2 bedroom. 


I know with a huge decision like this it will take some time. But I can't wait to get out of here and the guy below me just sold his condo and he said he took a 10% loss, but I need all new carpet put in my condo due to my girlfriends ankle biter pissing all over my floor. Hopefully these shampooer guys can get the spots up but I think I may take a 15% loss because of it. 

I'm stressed and am going to my banker on Monday to discuss it with him. Also I'll have to get ahold of my mother because she co signed it for me.


----------



## emc7 (Jul 23, 2005)

Some double-wides are very nice, I have an aunt that sold her house (she got divorced) and moved into one. Its not owning the land that concerns me. Does this thing have wheels? If the property owner wanted to sell the land literally out from under you to build a shopping center or something, could you move it? Would you be able to find a new place to put it? Will they give you a long (say 20 year) option on the lease? Around here developers are buying the lots and trailer owners are finding NIMBY zoning keeping them from finding a new place for their homes. 

Street parking sucks (especially where there is snow-plowing), so does city crime (breaking into cars is big here) and you never know when they will put up parking meters near the businesses and push the cheapskates into parking in front of private homes. Wiring issues are pricey and if you do anything (add a bedroom or a bathroom) you will have to get everything up to code. 

If you plan on staying for awhile (and you lose every time you sell and moving fish is no fun) and living with your daughter, the school district has to be the deciding factor. A home in a good district will hold value better and you don't want to have to choose between private (or home) school and moving in a few years. Pick for the long-term unless you are confident you can sock money away and sell at even or better quickly.

For a kid, the cheapest house in the best neighborhood you can afford is where you wan to be. You can fix it up and add value and use public parks instead of a yard. Fix up a dump in a row of dumps and you will never sell it. 

I hate renting, its flushing money away. However, renting is the way to go if you aren't likely to stay put. What doe it cost to rent a trailer? and would that enable you able to afford a better home in 5 years when the kid is ready for school?


----------



## lohachata (Jan 27, 2006)

$1800 A MONTH !!!!!!! holy smokes...i am renting a 4 bedroom house in a nice neighborhood..not a big yard ; but a yard..nice size livingrom and diningroom..decent sized basement...nice big deck....although there is no garage ; the landlord is supposed to build one........i am paying $850.00 a month...the landlord wants to sell it to me for $60,000.....
yep...i think i'll stay right here in cleveland...


----------



## Cory1990 (Jun 14, 2012)

I don't rent lol I own. Iv had this place for a little over a year now and I hate it more and more by the day. And the price is high because that's what you get when you buy a condo with very little credit. The older couple next to me pays 800$ when my monthly payment was 1400$ it sucks.

I don't like moving around and the next place I get I want to stay put at for a while.
And I refuse to rent and deal with half ass landlords who don't do there part. Renting is a money pit that I refuse to fall into. I rented a 2 bedroom farm house in Washington and paid 900$ a month with a ton of land and 4x4 trails anyways we had a huge bee problem that the landlord never helped with, and also had plumbing issues he never fixed. So I won't ever go back to renting. I own my condo and am hardly hanging onto it. Exp. now with the new one. 

The trailer is not horrible and there asking price is 16,000. It's got few issues and is on a decent sized lot. And is move in ready at the end of next month. And they will do rent to own with a 10k down. And is in a small town of 300 people and has one gas station one factory. Very nice area IMO no close schools but a buss pickup for kids to go to school in the next town (10 min drive) also another small town and nice school.
The land is a 5 year contract so I can't brake the lease and will have to have someone rent if I move out of the place. And with a cheap price tag on the place I think in the future when I want to move I could rent it for around 700-800 (comparable 3 bedroom rate) in the future.

The house is across the street from a major bar in the city there asking price is 50,000 with 5k down at the bank I could get it. But I don't like the area to much. The yard is about the size of my bedroom now and I love having cookouts at my house I'd no longer be able to do that. And I would worry about drunks damaging my cars or braking into my home. The realiter swore that would never happen lol like I was born yesterday. 

I'm young but I'd like my investment to hold value I'm not sure if the house would unless they knocked down the bar and somehow put in a driveway for me. It's a small house but iv heard city zoning is different then where I live now. I really don't know much about buying and selling houses so I don't want to make a mistake that's going to end up haunting me forever.

Next week Friday I'm having my uncle check into The trailer and make sure there is no problems that I can't see, when I was looking I read to check for soft floors, and the roof. Both look good but I can't see myself putting that kind of money down unless it gets checked out.
I recently sold my firebird a few days ago so I have a little under 7k in my bank account right now. But I'm also selling my street/strip Saturn on Monday and I'm asking 6k for that and I have a few guys interested in checking it out. Also I'm selling my spare dohc Saturn motor that was built for nitrous(backup motor) for 2500 and My friend is interested in buying that for his little Honda. So I'm trying to get all my stuff in order do I have moving money and everything. But I guess getting a new place all depends on how long it takes to sell the condo.


----------



## emc7 (Jul 23, 2005)

IME, the worst thing about trailers are the thin walls. Costs too much to heat/cool and you can hear your neighbors. 

Owning something outright is great. 

That condo payment is out of sight and will prevent you from saving anything. For that money, you ought to have a duplex you can rent out half of. 

Best of luck, whatever you do.


----------



## pinetree (Nov 29, 2009)

I don't think renting is a bad option, and sometimes preferable depending on your situation. A big selling point on buying a home has always been "it's an investment" and "you're not throwing money away!" However, there is no guarantee that you'll ever get out of a house the amount of money you put into it (just look at what happened in the US over the past 5 years). You also have to factor in how much money you are going to really end up paying at the end of your mortgage, assuming you have one. Repairs, upkeep and improvements can be much bigger expenses than you anticipated. Finally, there are property taxes, which can be quite a big expense depending on where you live. I'm not trying to say buying another place is wrong, just saying keep those things in mind when calculating out if you will save more money by selling and then buying again.

As for the doublewide, well it wouldn't bother me to live in one. In fact, I kind of like mobile homes and their layout, I just don't care for the rented lot situation (if that is part of the deal).


----------



## pinetree (Nov 29, 2009)

Oh, one more thing I thought of, which may not apply to you, but worth mentioning. If you received a first time homebuyer credit, you may owe all of that money back if you own and occupy the house for a certain length of time (I think it was three years).

edit: oops typo! I meant to say you would owe it back if you DON'T own and occupy the house you for at least three years or whatever the time length was.


----------



## TheOldSalt (Jan 28, 2005)

Move down here to Alabama. That same 1800 a month would put you not in a condo, but in the Country Club. 600 would have you very comfy.


----------



## Cory1990 (Jun 14, 2012)

Lol iv heard down south that you can get great deals on homes, my moms friend has a house down south that they own and the price of that place was crazy cheap and they were only paying 1200$ a year for the land! 

And I really prefer to own rather then rent. I may end up doing it for a while if I don't find a place. 

As for thin walls on the trailer I don't think they are to bad because there was new walls put up in it and it's drywall not the thin board (can't think of the name of it) and a lot of te place has been updated. 

And the home credit I would get it but I have not owned this place long enough :/ but the next place I still am eligible for it because I have not been here long enough. 

Life choices are hard lol  

Soon I'll make my choice after my uncle does the walk threw of both places and whatever happens I'll just be glad to get the heck out of this condo. I had my carpets professionally cleaned today for 160$ and what a huge diffrance from me doing it to them doing it. Everything looks brand new again!


----------



## Cory1990 (Jun 14, 2012)

My next step is painting the kitchen back to white then I'm good to go.


----------



## emc7 (Jul 23, 2005)

There are some really nice manufactured homes being made now with good insulation like solid foam inside the walls. Some of the old ones, though. You'd feel and hear the wind come right in through gaps in the wall and around the old single-pane metal windows. The trend on the coast, where people own the lots, is to haul them off and put up little concrete block cubes that can survive hurricanes instead. If you move into the trailer, find a storm shelter and use it when tornadoes are predicted.

A small town and a big city are kind opposite extremes. Go spend some time in each and see it you can stand it.


----------

