I agree, it has the potential for increase value. But, If you put 450k to buy let's say in Phienex, you can make 40K a year right now, and you live in Phienex, is it worthy for you to buy a condo in NYC for leisure vacation and hope for the future to increase in value? I am looking for reasons to buy one. my situation just like you. no kids, a couple, vacationing here or there. But increasing value is very important too, sometimes it rewards more than rent, just like in China. 米大, I think the key here is should you buy a vacation house/condo, or should you buy cash flow property. Which one is better deal. Of course, I don't really need the rent, but making money always feel good, right?
PS. Chicago's house is very cheap. Prime location, next to Donald Trump's new building, there is a 30-40yr old nice apartment building, 2BR over 1k sf, for only mid 200k. Worthy?
