Assuming me and my roomies want to settle down for a couple years, is an apartment or a house/condo better?
344078
To evaluate rent or buy, you should first consider the "equivalent mortgage" from your current rent payment.  To calculate that, you need you and your roommate's tax bracket.  \n\nLet's say both of you are on 35% bracket and you pay $1000 total for rent.  Since mortgage interest (under $1M mortgage) and property taxes are tax deductible, your 1000 rent money can be roughly equated to $1538 (1000/0.65). So if you get a mortgage that's around $1538, then it's financially equivalent to paying the rent.  If the mortgage is higher, then you're paying for the "emotional feeling" of home ownership.  If the mortgage is lower, then you're getting a bargain compare to your current rent.\n\nDo think twice about whether you want your roommate to be a joint owner of a real estate property.  When you want to sell, both need to agree.  The situation might be even tougher, if both of your names are on the mortgage, but he/she cannot make the monthly payment.  If something goes wrong, both your credit scores will be jeopardized.
3797
at least 2yrs, and live together first
508560
The only advise I can give you is to buy something now. Even if it is a small condo. That way, you are building equity and not throwing money away on rent.\n\nThen, 7 years from now, you will have much more to put down and can afford a better house.\n\nFor more details, consult a realtor. Just remember, any service (mortgage, inspector, title company, etc) that a realtor recommends will be paying the realtor a 'finders fee' which ultimately comes out of your pocket. Let the realtor tell you what you need and then shop around for the right people.
23438
Buy.  Some people will say it's better to rent if you are staying only for a short time.  Well, let me tell you, you will fall in love with the city and will never want to leave, so you might as well buy now.
207585
I hope this is purely rhetorical.  If you're really serious, and can afford the move, AND continue to live there, I would start with a visit to each.  I believe that to be the only way to make a realistic decision.
687048
depends on how long you've been in your new area. if it hasnt been that long i suggest seeing if things pan out. but if you stay for a long time and find that you're miserable and still cant call the place "home" then i'd get out.
1072839
For sure.  Financially it would be your best move.  You can save money and have a nice bank account when you do move out on your own.
175547
I sure hope so.  I am sick of apartment living but can't afford housing here.  I say stick it out in the apartment for at least another few months to see what the market does.  I have a feeling it will be going in our favor.  Maybe it's just wishful thinking.
337885
Coop's are real property, Condo's are real estate.\n\nThe above is the biggest difference in the properties, and thus affects the rest...\n\nAs far as the differences for common charges, you will actually find them to be relatively similar in buildings that offer the same level of services, condo's or coops.  Coop common charges include the taxes, while condos are broken down separately into common charges and taxes.\n\nTo make this as easy as possible, a condo is a better purchase because of your rights of ownership typically.  This is why you see condo prices in NYC 10-20% higher for the same unit as a condo compared to a coop.\n\nIf you buy a condo, you own that condo (real estate).  If you buy a coop, you own... the building, (shares are issued as part of the corporation controling the building, these shares represent your assignment of a space... that is owned by the coop corporation.)\n\nNow, let's take another step... if your neighbor in a condo does not pay his taxes or condo common area fees... who's liable.  He is... Real estate.\n\nIn a coop, if your neighbor does not pay, or cannot afford to pay their maintenance fees... the corporation and you to your share percentage are liable for their bills... real property. (because of this, coops are a little more sensitive as to who they will and won't let into their buildings.)\n\nBanks see a difference too.  Because they cannot account for what your neighbors will and won't pay in a coop, they typically will lend to a lower ltv in a coop over a condo...
924273
Depends on where you live, what you like and your finance situation.
123741
definitely live in the dorms. choosing an apartment your first year is a sure-fire way to be sad and lonely. dorm life provides a new family with whom you can eat, study, hang out, or whatever.
778587
I would rather live in a house so that I not only have more privacy, I would not be disturbing other people who live above or below me in the same building.  I lived in a couple of apartments, once we people living above me and once with people living below me.  You can hear sounds from the each others apartment and I did not like it.  I also did not like the parking arrangements. Both apartments I lived in had like 50 units and 100 parking spaces.  Each tenant was assigned 2 parking spaces, which caused problems when friends or family would visit for each tenant- technically there was no where for them to park and many times I would not have a place to park because of these visitors.  It was a nightmare.  I hated living in an apartment.
457781
No.  Condos are now more expensive than they were before the crash 6 years back.  That's really telling on where the market is.  Buy low and sell high, right now is high.  Buy only if you really need a place to live and outside the metro area is always a better buy and less prone to big price swings.
1091956
When my boyfriend (now my husband) and I first moved out of our parents houses we did have a room mate.  We had a baby and so did she.  It seemed like a good solution to share an apartment.  That lasted for 3 months and we kicked her skanky butt out.  Looking back it wasn't the nicest thing to do but we were so young and just didn't care.  We had our own apartment for several years and I thought we would never get our own house.  Then I got pregnant with our second child and after she was born we moved in with my husbands dad and step mom.  Yuck.  But we saved enough $ to buy our own first little house.  We lived there for 5 years sold it and then moved in with my mom while our new house was being built.  She was great to live with and what an experience.  A dog, two cats, and the five of us including my mom in her little 2 bedroom 1 bath condo.  We have been in our home for 4 years now.  Doing things the way we did taught me alot.  I'll never forget thinking "I will never own a home"  and here we are...it is quite remarkable.  One thing is for sure we were just as happy poor as we are well off and we have got some good poor stories.   :)   \nHope I didn't bore you with too many details...that was fun to reminisce though...thanks!!!
878776
No,....just very basic principles,....population GROWTH ,...land STAY the same.\nThis principle is good for landed house,....not apartments.
53954
Houses are usually quieter, apartments usually have more relaible maintenence.  Pick yer poison.
1039711
I'd say stay home set the example and save money. The life style change can make you or break you. Try it if not move out the second semester.