casper4 asked:


There are some new condos in my area that are selling in the low $300K range. By the time they go on sale, I would have about $10K in savings. I would also plan on living there for only about two years, before my significant other and I buy a home together.

My first question – do you think it’d be worth it? I don’t want to rent, but I also don’t want to waste my money on a condo I’d only live in for a relatively short time.

Second question – if it WOULD be worth it, would I have enough money to put a down payment on it? What kind of loan/mortgage would I have to get for it, and how long would I be paying it off? If I sold the condo after two years, would I likely get my money back for it?

Please use the most baisc layman terms you can, and please explain any mortgage/loan terms, as I’m not at all familiar with them. Thanks!
The condo is in North Jersey, right across the river from New York City. Hence the (unfortunate) giant price tag!

Mar Vista Real Estate