Wednesday, August 03, 2005

Question about Buying A Condo

There seem to be a lot of condos going up at the Jersey Shore. I would assume that most of the buyers are people from North Jersey and New York that want a place at the shore. Also, I’m sure a lot of empty nesters in Monmouth and Ocean Counties are selling their single family homes that are located a little further in-land and moving closer to the beach.

“Question | I am contemplating purchasing a $200,000 condo on the [Jersey] Shore with my life partner. We both expect to retire in three years. I am very unhappy with the $383-per-month association fee, and I remember that condos used to be considered bad investments. What do you think?

Answer | You're right. Condos once were thought to be bad investments. But that has changed.”


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