Homeownership is Overrated

I requested a Comparative Market Analysis for my condo today. It was looking really bleak at first, but I think I'm still in break-even territory. Jeff, my realtor, is coming here on Wednesday to check out this place and see a few others in the development. Time for a little reconnaissance mission, to see what people are offering compared to what they are asking.

Everyone always says owning a home is a good idea, but it's not perfect. I wish I would have considered that the value might go down; or even that realtor commission and fees mean that you ought not to consider selling a house that you don't think you can get at least 5% more money than you paid.

If you're planning on sticking around for a while, real estate is a great idea. I love my home and don't regret having bought it (quite) but I will be annoyed if I can't break even at least. I really wish I had considered that I might not want to live here long enough to let it appreciate. The lame-ass financing doesn't help. I have next-to-no equity, either in time or in interest.

There is a lot to come in terms of this sale, but no matter what, I must remember that it will be educational. And you know sometimes education costs money. You certainly can't buy experience, though I suppose you always pay for it.