Related Posts
Any dancers in this group (salsa, bachata)?
Additional Posts in Personal Investment Chatter
Best investment book recommendations?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Neighborhood is going to make a huge difference. Even those that seem similar (let’s say LP and Bucktown) can be very different when looking to buy. LP is more expensive to buy since so many people rent. Bucktown is more affordable to buy since less people are there looking to buy investment properties to flip and rent out.
I bought a 1 bed/1 bath for $275k about 2.5 years ago. Loft style so price is inflated ~10%. You won’t find new construction for 2/2 for under $400k, most of the 2/2 in my building go for 350-450 depending on size. Building was converted from factory to lofts in 2010. $400 HOA, but covers everything except gas and electric.
High rises will all have HOAs of 650+...comes down to how much you care about a doorman. IMO high rise is kinda stupid to buy in, may as well just rent at those HOAs.
I’m finding most places under $375k tend to be older and need work done. Or I find a nice condo in a high rise with an $800+ HOA fee. Is that even real?!
My HOA started at $300/mo 15 years ago and now its $600 unfortunately. It does cover all utilities including internet and cable. Good thing is my rents fully cover all expenses pretty easily and is very easy to find tenants. Its in the south loop which I loved.
Conversation Starter
Did you find a condo, same boat now and can’t figure out the right HOA to pay