Post: #1

I'm about to buy an appt - am, 24 yo, I reckon I'll keep it 5 years, since I hope to make enough to live in somethign larger down the road.

Meanwhile, I'm on the fence whether I should buy one in the "nice" neigborhood which is less crowded, very safe, family oriented, green, etc. and the appt is larger, or if I should go for the smaller place located smack dab in the city centre.

Logistics for B are massively better, and therefore, location also. The quality of the appt., and the building is also high, it's near my campus and work.

However, as an actual place to live, option A is better - more light, more open spaces, larger pad.

All comments and insights appreciated. Thanks in advance.

Post: #2

What is your commute to work from each place? If you live away from the city, can you still make it to the there and easily bring women back to your pad via taxi or metro/train?

I would choose not to buy a place at such a young age but since you didn't ask for that advice, I will tell you that in my early to mid 20s, my friends who bought in the suburbs away from the city ended up disliking it. That said, I would also never, ever pay such a large amount (any condo is a large amount) for something that did not meet my standards of quality (such as the apartment you describe in the city center).
My unsolicited advice: consider renting for now, enjoy your 20s and travel the world.

Post: #3

Live in the one that is closer to where you swoop girls.

If you live in the further one, expect some Dui's.

Post: #4

Thanks, Gents.

Smitty - I work in banking - I can get a dirt cheap mortgage, and it would end up be cheaper than renting. Any place I get I will need to fix up a little - it will meet my standards with some work. Then it can be sold for a decent profit. Assuming real interest rates don't go through the roof. Am I willing to bet on that? Personally, yes. That said, it's a bit smaller than I'd like, but then again, I couldn't do better renting, either.

But I genuinely appreciate your advice. You might've thought of something I haven't.

G: thanks for chiming in, I was hoping you would, given your mastery of the "lifestyle". I reckon I am more inclined towards the B option - I can easily bring people over for afterparties - I used to bartend in cocktail lounges, so that's an easy swoop move.

Cabs are fucking expensive in my town. Public transport is good. But it's not going to get a girl's pants wet when I tell her let's take the metro with the crack-heads at 5AM back to my place. On the other hand, if I tell her, "you know, I live across the street. Let's put on a record and kick back with a Clover Club"

So... swooping wise B is better... but A could offer the best ROI over a few years if I end up selling.

Post: #5

I'd like to add - if chasing fresh pussy and maximizing your player potential is in your mind(which seems likely given you're 24) then option B is a no-brainer. But if you're more of a relationship type of a dude, then you'd probably want to consider option A more seriously. Also, I think downtown places are usually easier to sell.

Post: #6

100% what G said. I went with the high property values... and well, I guess you know what happened. I can't sell it for shit!

I live in a college town with a sick downtown scene... This was another one of those 'being young and listening to my parents' type of mistakes.

Post: #7

Good comments in this thread. +1 to Haywire's comment. You may make the wrong choice and not know it for a while. I'm in a great area right now, but after months of living here, I think it's the wrong one for me.

I would try to sleep a few nights in one or both areas. If it's a close call, you may not know which is better 'til you've done that. Maybe couchsurf, find a friend in each area and sleep with them, or rent for a month in your current favorite. You may get bored of A, but you wouldn't know it from visiting there for 2 hours on a Saturday morning.

When you have a small place in the city center, you naturally make the city your home, and get out more.

Post: #8

Get the one that will have the highest resale value in 5-8 years.

If those are similar, then get the one that is closer to your goals.

If you can get it "cheaper than rent" as you say, then get the one in the "nice neighbourhood", rent it, and use the cash to rent or pay for the mortage of the one closer to the nightlife.

Post: #9

I faced a similar decision about two years ago and went with the smaller condo near the action (universities, night life, close to downtown), my friend bought three months later and went with the larger place in the burbs. We're both similar in many ways (30 years old, tradesmen working out of town, etc) and I guarantee that I made a better decision.

He has the townhouse condo and more space but he's single anyway so a lot of its unused, he has more room to host parties but no one wants to drive all the way to the burbs to visit him (or as G points out, risk the DUI), he has to get in his truck and drive a few minutes just to get a pack of smokes or go grocery shopping. There's no action in his area, just married people strolling in the evening and people walking their dogs.

Myself, I can walk to the best entertainment district in the city in 15 minutes or catch a quick cab, there's a grocery store 100M from my condo, a 7/11 across the street and a couple of neighborhood style pubs and restos. There's a university campus basically in my back yard, I can sit on my patio and watch girls walk by all day. I don't need a car and definitely don't have to worry about paying a $40 cab ride home after the bars close. If my friends, many who live in the burbs, want to party on the weekend, the pre-drinking and after party is going to be at my place.

Its a no brainer man, pick the spot closer to the action, you can always move to the burbs later if you get married or want to get away from the big city lifestyle.

Post: #10

This is a no-brainer.

Buy what you can in city center. When you have more $ and move along in your life in 3-5 years you can sell OR ideally keep it in your portfolio and rent it out.

Scenario 2018 ElJefe has a respectable townhouse or single family home in the "nice" suburbs. Also owns a 1 bedroom investment property in the city center that he rents out to a young couple at a profit.

You're welcome.