Thursday, August 25, 2005

Contemplating Condo Purchase?

I decided to check out a pre construction condo project. It's very close to Boston, actually right in Cambridge. I really had no intention of making any purchase, but I was really impressed with the project. Here's the web site: click here. I put down an initial deposit of $2,500 to hold the unit and I have ten days to opt out. It's a nice little 800 sq Ft duplex. There are the pros and cons. I would have to do some big time portfolio adjustment. I will put at least 20% as a down payment, but that means liquidating a chunk of my portfolio. I hate these kind of decisions... Ugh...

6 Comments:

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At August 27, 2005, Blogger klauss said...

What is the price range? They look really nice, but be prepared to stick around for a while. Condos in the Boston area took more of a hit than single family homes during a period of declining prices in the early 90's, but look at the prices now.

 
At August 28, 2005, Blogger Money Turtle said...

The price ranges from $350,000 to $600,000. I'm aiming for the lower end. Yeah, I remember my parents buying at the peak in 1987, but now they've made out well.

 
At August 29, 2005, Blogger mmb said...

How funny! The condo I found (in Seattle) is also a pre-construction one. I have been looking for houses but prices are ridiculously inflated and I didn't want to compromise on location and quality. That's when I came across this and so far it looks great but I have the same concerns as you (liquidating a chunk of portfolio -- hate the thought!). Good luck!

 

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