I just purchased a 1985-built condo for $200,000.
This might seem like a lot of money for an old home, but the housing market has gone bananas in the last 12 months.
It’s a seller’s dream and there isn’t enough housing to meet the demand from the buyers flooding the market this year. At first I thought we could find a nice home if we adjusted our budget, but this wasn’t enough. We both hunted relentlessly and checked the listing websites multiple times a day to no avail. Since our apartment lease was due to be renegotiated, I was hoping and praying that we’d find a home in the right amount of time. Although we originally wanted a house, we realized that condos were a lot more affordable. The one we settled on was in good shape, it really just needed a new kitchen and bathroom. Otherwise we wouldn’t have been able to get it for the insanely good price that we secured. It also needed a new air conditioner, as the old one in the attic was already two decades in age. After we got the new air conditioner installed, I bought sheets of thermal foil insulation and put it around the outside of the air handler inside the attic. This is to insulate it from heat in the summer and from cold air in the winter. Aside from the improved a/c performance with the new machine, I think the thermal insulation made a real difference as well. Once I have the money I’m going to insulate the attic with the thermal insulation as well.