AgentIndustry News

Careful buyer regrets home purchase

Home Sale Hindsight
Published on Jun 12, 2009

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by CareyBot

Q: Help me out here. I bought a condo in 2006. It's way too small for me, and I didn't really love it, but it had some things going for it. It's in what was supposed to be an up-and-coming area, but it's pretty industrial and commercial still and a number of the big businesses in the area have gone out of business, so there are lots of boarded-up buildings around. We just got word that one of them is being converted into almost 200 units of low-income housing -- I'm not looking forward to that.

Anyhow, I saved for years in order to buy, and bought a very low-priced, one-bedroom unit so I didn't live outside of my means. I thought I was making a very reasonable investment, even if my home didn't appreciate at all. Now, all the people in my complex who overpaid, pu