We bought a 2bd condo 5-6 years back for 300k which has increased to 500k now - approx 10% annual return. Do not plan to sell it. Thinking of buying another condo in same complex for for 550k, which has appreciated in the value the same way.. 300k to 550k in last 5 years. Not sure how far it can grow... but have had decent returns so far. Should we wait or pull the trigger?both are investment properties.

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Location is Atlanta!!

How are you defining “investment property” ? If you intend to just use this a second home and are assuming that price will a appreciate that is not investing, that is speculation. If you plan to rent it out and can receive positive cash flow then fine. The country is suffering form a nation housing shortage/crisis so a rental makes sense. However, I don’t think it’s accurate to annualized your “roi” based on price appreciation since most home prices have increased ~20% due to low inventory and low rates as a result of the pandemic. Assuming inventory rebounds after most people are inoculated doubt you will see a condo appreciate at the same rate.

Makes sense. I will rent it out the condo.

What’s the HOA like? Do you know what you could actually rent it out for each month and does that make you cash flow positive? Depending on your down payment, and monthly expenses like HOA, I think you’re cash flow is going to be tight (unless you’re able to get $3k+/month in rent.

Condos typically appreciate at a slower rate than a single family home - I have a similar experience in Charlotte and am planning to unload it this year because HOAs keep getting higher.

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