Should I buy a condo or townhome near South/West Loop?

[JohnCU]

I second surlycue. You should not buy a place in the next 1-2 years if you only intend to own it for five years....you will almost certainly lose money. Rent instead.

[mr aztec]

If your horizen is 5 years and you like to gamble then yes, buy.

If 7 years and you are sure you will remain in Chicago, no relocation, etc, then maybe.

If 10 years or more, then I think its a smart move. Be sure you will enjoy living in the loop or places heavy on cement--I prefer the neighborhoods myself.

[hamh]

so even in 5 years a townhome in south loop (which townhome in the area is limited) will not rise too much in price? The reason I said 5 years is that I might already have a kid by that time and I can imagine I will need a bigger place.

I pretty much will settle in Chicago, so it goes back to the question of whether I should get a more expensive place (more family friendly) than a smaller townhome which is targeted for bachelor or young couple...

[hamh]

the townhome I'm looking at has 2 bedrooms plus a family room on the ground floor, but the problem is the master bedroom is on the third floor, second bedroom on the second floor and the family room/third bedroom on ground floor.

Space wise it's good enough, but not sure if it's ok if I have a kid in the future.

[surlycue]

Originally Posted by hamh

any suggestions guys?

A family style layout would normally mean all bedrooms on the same level with the living/dining/kitchen on their own level and then possibly a garage and finished basement/family room on the bottom. this is the most common layout for newer construction. some folks with babies would prefer to avoid stairs all together but that is next to impossible when it comes to townhomes.

[hamh]

ahhh, so the one I'm looking at on post #14 is not family friendly at all :-(