Details
Asking Price:: 999999 Size:: 1000 Address:: 123 Pine St Description:: Really cool condo, apparently in downtown Seattle (because I’m pretty sure that’s where this address I made up would be 😜)
Thoughts
Photos
Pros
| Attribute | Value |
|---|---|
| Stabilize housing costs (mostly) | 10 |
| Get in before housing costs rise even more | 9 |
| Gain financial asset | 3 |
| Dramatically reduced housing cost after paid off | 6 |
| Could have pet | 1 |
| Closer to transit stops | 4 |
| Nicer washer/dryer | 2 |
| Space to do things we want to do | 6 |
| Corner unit | 3 |
| Score | 44 |
Cons
| Attribute | Value |
|---|---|
| Pay for own home maintenance | 4 |
| Less flexibility to move | 2 |
| Less convenient to drugstore and grocery | 3 |
| Building is ugly | 1 |
| No scenic view | 3 |
| No garden | 2 |
| $500 more monthly cost (vs. current) | 3 |
| No workout room | 1 |
| Bad internet (Comcast) | 7 |
| Only one elevator | 2 |
| Have to go farther for trash/recycling | 1 |
| Score | 29 |
Concerns
- State the thing you’re concerned about here.
- Once you’ve addressed each concern, you can put the information you learned in a nested list and check off the item with an “x” in the square brackets.
- This concern hasn’t been addressed yet.
Possible Outcomes
Good
- Live affordably for longer
- Sell for big gain
- Stability
Are these exciting?
Yes
Bad
- Big assessments
- Because: Building needs repairs
- Prevent: Building inspection?
- Difficulty selling
- Because: Condo market is weak
- Because: Seattle housing market weakens
- Because: Location is not desirable
- Because: Condo is in disrepair
- Prevent: Keeping up condo maintenance
- Because: Better alternatives available to buyers
- This will be true. No way to prevent. Will affect price.
- Major interior repairs
- Because: Unseen problems
- Prevent: Inspection
- Because: Accidental damage by us or another owner
- Prevent: Insurance, leak detection, smoke detectors
Can you stomach these?
Yes
Alternatives
Stay Where We Are
Pros
- Great location
- Nice people
- Well run
- Scenic view
- Outdoor space
- Relatively cheap
Cons
- Rent may go up
- May have to move when owner sells
Keep Looking
Pros
- Might find something better
Cons
- Might never find anything as good
- Ultimate purchase may cost more
- Ultimate purchase may not be as nice
- More time, effort, and stress to shop
Move to a Different City
Pros
- May be cheaper
- May like it more
Cons
- May be more expensive
- May not like it as much
Move to a Different Neighborhood
Pros
- May be cheaper (not very likely in an area we would want to live)
- May like it more
Cons
- May be more expensive
- May not like it as much