I had the choice recently after I finally got on my feet financially and free of debt to either continue living in an apartment and pay rent, or I could buy something and live in it indefinitely.
In my head, the dichotomy was always staying in an apartment versus buying a detached house.
The either/or in this situation was limiting, because my budget wasn’t huge and I didn’t want a massive transition from the way I live now. Additionally, there are things like yard care and other maintenance required when you own your home, whereas here all of that is covered by my rent costs. I can’t remember what triggered the thought in my mind, but that’s when I realized I could get the best of both worlds through buying a condominium. You have all of the plus side of living in an apartment without the negative of indefinitely burning through your money on monthly rent fees. There is almost always some sort of condo association or HOA fee each month, but this is to cover building maintenance and exterior work. How much this fee is each month differs from one condo association to another. I love my new condo with such an affordable HOA fee, but I cannot believe I have to climb inside my attic to simply change my air filter. I’m used to having the return vent housing my filters, and at most getting on a ladder to swap them out. If I want to replace the filters for my heating and cooling system in my new condo, I literally have to climb inside the attic every single time. Plus, it’s not right at the opening either, it’s somewhat far back behind several rafters.