Should I buy a condo or townhome near South/West Loop? (Bridgeport: renters, buying a home)

[hamh]

Should I buy a condo or townhome provided that I treat it as my start up home and I may consider selling it in 5 years?

I was looking at place around west loop, south loop, and may be a bit in bridgeport, but there isn't much townhomes that fit my budget while providing a safe neighborhood (especially in south loop)

Do you guys have any suggestion?

And by the way, is family friendly an important factor in buying a home?

[surlycue]

I would definitely consider family friendly to be important because most buyers (at least of 1+ bedrooms) are not single people. Typically the "starter" type homes will be popular with newlyweds, couples and young families so you'll probably do better to buy on a residential block as opposed to a busy thoroughfare. None of the area's you are looking in have particularly good public schools so I wouldn't be worried about that.

Given the options I would personally pick Bridgeport first, followed by West Loop then South. I'd be worried buying into any newer condo because you'll end up with a bunch of vacant units and renters until the market readjusts. Also, buy a place that you expect to be in for at least 7 years. At this point I don't know that 5 years would allow you enough time to see an increased property value high enough to provide a down payment on your next place or maybe even cover closing costs.

[hamh]

there is a place in south loop which has a townhome setting, but it's kinda weird that the only thing on third floor is the master bedroom, while the second room is on second floor and third room is on the ground floor. I'm not sure if this is family friendly enough for resale in the future.

[hamh]

and there is another new development in bridgeport called the lexington square (around 37th and sangamon ), but I'm kinda worried about the neighborhood as people usually say east of halsted in bridgeport is ok, and west of halsted is shady

[Avengerfire]

^What? ^

[hamh]

hi avengerfire, do you have any suggestion? I have no idea about the area, all I know is from what people said.

[Avengerfire]

What people?

[hamh]

coworkers and friends who live in bridgeport.

they said the best part of bridgeport is the area where most of the Italian stays. Like the area with million dollar homes.

[hamh]

Another question I have in mind is, what consider as a family friendly home?

there are quite a few newer designs townhomes, but not all of them are family friendly.

[hamh]

any suggestions guys?