Updated 4 months ago on . Most recent reply
Sell or Keep Condo (Newbie question)
I purchased a condo as a primary home in 2022 and closed right after the interest rates started going up and ended with 5.99%. I originally intended to keep the condo for 5-7 years and rent it out however the HOA fees doubled in 3 years and now at $660. Zillow and Redfin estimates say it's underwater by 9%-10%. Even if I wait years to get the equity higher, I'm afraid the HOA fees will be much higher and I don't want to wait until is 1K HOA fees before selling it. Am I thinking it right to sell it now vs wait? Not sure if I'm posting within in the right subform. I'm a newbie and thanks for reading.