Should I liquidate my crypto and put a down payment on this condo?

>buying condos
You own nothing. It's air.

Absoultely

Just think of how comfy the shit posting will be

Yeah, I’ve always wondered about the way this works. I mean, if someone buys the building and wants to convert its usage, do they have to buy you out at “fair market value”? And if so, what if fair market value has decreased dramatically? Are you just fucked?

Just noticed the ps4 slim. I guess all the money goes to mortgage.

>what is property tax :^)

Don't worry, cuck, you're covering property tax in that rent payment you make every month. It's just someone else's property tax instead of yours.

>asking a Laotian sexdoll quality control board when you should be asking your parents

The only thing you can claim to own is Bitcoin, unironically.

>crypto
>down payment
>$700 monthly fees
lmao

stop doxxing

Damn Toronto is cheap. This would be at least 5m in NYC. I need to move

1 million dollars plus $777.44 monthly fees to live in the centre of a shit hole

at least theres no niggers

>Million bucks for a shoe box condo with defective glass curtain walls that will need to be replaced in 10 years at tremendous cost.

>Getting flooded from defective pipes above you

>Weed some from dips-shit neighbors.

"No"

What are property taxes and condo fees going to be?

you realize were less than 8 months away from a collapse

>paying 1 mil (monopoly money) for a shitty quickly put together condo
>paying 700 dollars a month for maintenance fees
>paying property tax ontop of this
HOLY SHIT LMAO

Do what Christian Bale's character and Brad Pitt's character did in The Big Short. Invest in seeds and water.

This, unironically. Nothing else can't be stolen from you. But if you memorize your wallet seed you're free.

Someone can’t buy the building. They would have to buy all the individual units and disband the condo association. If even a single owner refused to sell, the deal couldn’t happen, depending on how the condo rules are written.

>depending on how the condo rules are written
Famous last words

Unironically though OP you'd have to be mentally retarded to do this

If you think paying $5,700 a month for mortgage, property tax, and association dues sounds like a good deal, you’re either loaded, a moron, or both.

I sometimes wonder about buying a condo rather than a house just because they're less expensive. But then it seems retarded. I don't know. Why would you buy a condo? Why not a house?

Trust me I know. I just sold my condo in a major US city and will NEVER own a condo again. Fuck condo politics. Fuck nosy neighbors. Fuck having to ask for permission to work on the home you own.

Location. People that want to be in the city.

Condos are cheaper and you don’t have to maintain the common elements of the property yourself (in theory). Other than that they fucking blow. Special assessments for stupid shit you don’t agree with, dumb rules, idiot neighbors giving you a hard time about the way you decorate your deck, etc.

Are u a faggot? Cus those parts are fags part of TO.

Only if you have no intention of living there and just plan to rent it out. Otherwise you are making a terrible mistake.

buying property right now is not a good idea. wait until the bubble pops

cash out and put your money in something which will earn you a passive income until then

> $777.44 monthly fees
Why do people accept this form of cancer? I refuse to buy any property that has any type of HOA/assessment fee.

These fees ultimately raise rents for non-buyers and penalize the buyers by adding a monthly fee.

It's literally like someone fucking you in the ass while you're trying to not get fucked in the ass

Attached: kek.gif (280x207, 453K)

>Buying a home in the 2nd most inflated home market in human history
>Buying a home in the 3rd most inflated home market on earth (Toronto)

Good lord man. Just be patient and wait for the collapse.

HOA fees are either a total scam or a reasonable expenditure, it's never in the middle.

I lived in one neighborhood where the fees were $200 a month and we had NOTHING. Not even sidewalks. The HOA claimed the fees went towards maintaining the landscape around the entrance sign. There were 60 homes in the neighborhood. Just do the math THAT WAS ONE FUCKING EXPENSIVE SIGN.

On the other hand my current neighborhood has $150 a month HOA dues and we have 3 pools, 3 tennis courts, and a well maintained park.

Also, lets assume there are 50 units in the building.

Those fees amount to almost half a million dollars a year in total fees.

WHERE THE FUCK IS THAT MONEY GOING

Toronto is in canada

Do you have any idea how much it costs to maintain shit like elevators, central cooling units, insurance policy etc? That's before you get in to an bouji bullshit

let me guess, you're HOA is a suburban gated community in some flyover?

absolute shite m8

YEP