I've started my search for a place to buy and it's a bit depressing. I can either live in a condo or townhome for ($300k) near my work in Redmond or hold out for an actual home in Kent, Maple Valley or maybe Bothell, if I'm lucky. I've been reading that the real estate market is slowing but you wouldn't know it from the prices in King County. Although, even those prices are finally starting to be affected.
I keep being told horror stories of owner associations that are completely nuts. For instance, one woman purchased a condo but two years later the association passed a decree that everyone had to pay $40k to refurbish their kitchens, that's $40k each. It made me angry just hearing about it. I can't even imagine how I would react having to go through it. The idea that you don't have true ownership and some Chets can dictate elements of your home is disturbing. However, buying a home in Kent means a lot more time on the road and a helluva lot more money in gas. The flipside is that it's an actual home, with property, rooms, garages, parking and ownership.
My rental management just raised my rent to $1300 ($1375 for month to month), which is another reason pushing me to get the hell out of here. I'm fed up with this place anyway so the timing works out. I just wish housing was a tad more moderately priced, which is particularly scary since I'm single and making what I would consider is damn good money. I have no idea what single-income families are doing to buy a home in this market.
Comments