Business World

I’m trying to decide whether to sell my condo now and move into an apartment or try to hold out until the market is better. I want to sell because the condo is costing too much and my brother, who used to do repairs, passed away. In three years, when I retire at 66, I will move into an independent, senior apartment.

As long as you will not go into financial distress, hang on as long as you can. You probably will find that your cost of living in the condo will not differ much from what you will spend in a comparable apartment. Continuing to own also gives you benefits like tax deductibility.

Keep in mind that while you remain in your condo, your association fee takes care of most of the exterior and common elements pay day loans. The only luxury an apartment would afford you would be the service calls you can make for an interior repair.

If you feel the need to explore selling, I would suggest consulting with a seasoned Realtor for a competitive market analysis of your property. This will allow you to make an educated choice.

Source