Quote:
Originally Posted by instantneedles
Yeah I'm personally hoping for a 2 bedroom condo (which will come with a higher down-payment), because I heard 1 bedroom isn't worth it and is often harder to resell.
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It's the opposite. 1 bedroom is way easier to sell because the average single and dual-income population can reasonably buy a <$600k 1BR condo. But have an incredibly difficult time saving for a DP + Qualifying for a $600 - 750k 2BR condo.
If I wanted to cop a $700k 2BR that's like
20% Downpayment @ $140k + $112k annual income
or
40% Downpayment @ $280k + $84k annual income
However, 2BR condos have a more attractive $/Sqft because of this.