Hello reddit,
This is going to sound somewhat selfish, but I really would like to better assess my financial situation.
I am 31 single male who has bought a condo 2 years ago located pretty close to a busy intersection and across from an abandoned mall. There has been a proposal of a low-income affordable rental apartment coming in to the abandoned mall, which makes me worried about my property value. I understand the importance of affordable housing for the community, but I also have to think about my assets.
I've done some research and many studies and articles suggest that there are no impact on the property value, but in reality, I feel like it's going to make my property less attractive if I were to sell it or rent it in the future. I feel like if there were 2 identical houses but one next to an affordable housing and other in a normal neighborhood, people would prefer the latter, but I maybe wrong.
I have paid off about 80% of my mortgage, and my initial plan was to rent the current place out and move on to a better neighborhood and bigger house. Now I'm contemplating if I should sell my condo asap and move before the value takes the hit. The city I'm in has been growing, so it has been staying on a seller's market for awhile now.
Any personal anecdotes or advice are appreciated! Thank you!
Submitted July 20, 2018 at 01:37AM by SoIU https://ift.tt/2JJm0dy
