riverripper wrote:
MST how do you find owning a condo while your husband is in school? We are strongly considering it, we really liked a couple buildings we looked at and if we cant sell it in two years we can definitely rent it to a Kellogg student easy enough by the sound of it. The only thing I noticed there are relatively high property taxes and the fees are high but at least they included heat. My wife really liked the ones in the old marshal fields building, really tall ceilings make a one bedroom feel a lot larger and its a really nice location.
The rents are too high in Evanston, so we thought we might be better off buying. After adding the property taxes, assessment fee and mortage payments , I think you spend the same amount per month on average, as on the rent. When you rent, you have to pay for utilities and parking separately. And also taking tax deductions on mortagage interest into consideration, buying seems to be a better option.
Post graduation, we plan to rent out the unit to Kellogg students and sell it after few years (once the market recovers).
If you would like, I can give you my agent's contact. She helped us find an apartment in the downtown and within our price range even though it is in a very new building.