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People living in Miami and other cities where new skyrise condo buildings are constantly coming online: how’s resale value? How do you buy when there’s always something better, newer around the corner? Do you just upgrade every year like a new iPhone?

Ari Paul

@AriDavidPaul

Jan 9

Imo, no point buying a condo today. You don’t really own them - the condo association controls everything about them, including your ownership rights. Houses on the other hand - might be new stuff built but not at same location.

Sully

@Suleman__Sheikh

Jan 9

Good point. I was looking into condos just the other day and came to the same conclusion

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and

Three advantages over a house: 1. Lower maintenance, 2. Some come with room service and other hotel-like services, 3. My assistant can afford to live in the same building, which is super convenient.

12:10 PM · Jan 9, 2022Twitter for iPhone

Replying to

and

Some call that a maid.

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and

Gosh, I need an assistant!

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and

In the UK, at the end of the term, you do not own the property, you must pay to extend the lease & the value of the property reduces significantly once the period is less than say 90 years. Leases are generally 125 years. Ofc w/ f/hold, last mortgage payment, 100% ownership.

Replying to

and

Sure, I just prefer renting condos. I get all the perks you’re mentioning without tying up capital in something others control. Imo, best reason to own is for privacy/control, so you can make physical changes for example. But not with condos.

Rafa

@intjr

Jan 9

Both of you can afford the whole building. Just build/buy, become a landlord, live n the same building, and reduce your taxes to zero in perpetuity. I can help.

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