Comments on: Becoming a Homeowner At a Young Age http://www.moneycrashers.com/becoming-a-homeowner-at-a-young-age/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: The Bargain Queenhttp://www.moneycrashers.com/becoming-a-homeowner-at-a-young-age/#comment-3035 The Bargain Queen Tue, 26 Sep 2006 22:02:20 +0000 http://moneycrashers.com/?p=168#comment-3035 I completely agree about not rushing into it. I'm living in a place my husband and his brother bought as an investment when they were 24 and 22 respectively. Kudos to them for buying a place so young, but they could've picked a little more carefully! The owners corporation (HOA) here has a few problems and the complex hasn't been properly maintained in years. The fees have been so low that whenever work needs to be done, special levies have to be imposed. I've now spent six months of my life trying to sort the whole complex out and am making slow progress. Wish the boys had bought into a well-run complex! Some warning signs if you're thinking of buying an apartment: - rubbish all over front yard - garden ripped out for maintenance and never replaced - rising damp, peeling paint - timber floor building with no fire alarms - heritage complex - Council regulations make it near-impossible to do anything - HOA has no money in accounts - the manager they're paying to run the place doesn't return calls or respond to email Hmm, this is getting long, might have to turn it into a post on my own blog... I completely agree about not rushing into it. I’m living in a place my husband and his brother bought as an investment when they were 24 and 22 respectively. Kudos to them for buying a place so young, but they could’ve picked a little more carefully!

The owners corporation (HOA) here has a few problems and the complex hasn’t been properly maintained in years. The fees have been so low that whenever work needs to be done, special levies have to be imposed.

I’ve now spent six months of my life trying to sort the whole complex out and am making slow progress. Wish the boys had bought into a well-run complex!

Some warning signs if you’re thinking of buying an apartment:
- rubbish all over front yard
- garden ripped out for maintenance and never replaced
- rising damp, peeling paint
- timber floor building with no fire alarms
- heritage complex – Council regulations make it near-impossible to do anything
- HOA has no money in accounts
- the manager they’re paying to run the place doesn’t return calls or respond to email

Hmm, this is getting long, might have to turn it into a post on my own blog…

]]> By: ibhttp://www.moneycrashers.com/becoming-a-homeowner-at-a-young-age/#comment-3034 ib Tue, 05 Sep 2006 21:08:47 +0000 http://moneycrashers.com/?p=168#comment-3034 wow, a "young people's" article that includes my age! thanks for the post. i still don't own a home yet. have always wanted to. very difficult to get past 1/5 the amount i have saved - i would need 5x what i have to begin the process, but at least i am saving good $ into retirement accts. & at least i have around 1/5th! net worth was in the minus just a couple yrs ago. wow, a “young people’s” article that includes my age! thanks for the post.
i still don’t own a home yet. have always wanted to. very difficult to get past 1/5 the amount i have saved – i would need 5x what i have to begin the process, but at least i am saving good $ into retirement accts. & at least i have around 1/5th! net worth was in the minus just a couple yrs ago.

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