My first thought was "I can buy a condo that I want for that much, and never have to make a mortgage payment again! Pick the right condo community, and the COA payments will be reasonably low and I'm set." .
That's a landmine right there.
IF you find a place like that with COA (HOA?) payment reasonably low, I doubt they'll stay that way.
I don't know from real estate, but as attractive as a condo or townhouse might be, the potential for continually increases payments, even though lower than a mortgage (maybe) would really chap my hide.
It sounds like a plan, even if a bit ambitious or optimistic, but I hope it works out for you.
That's a landmine right there.
IF you find a place like that with COA (HOA?) payment reasonably low, I doubt they'll stay that way.
I don't know from real estate, but as attractive as a condo or townhouse might be, the potential for continually increases payments, even though lower than a mortgage (maybe) would really chap my hide.
It sounds like a plan, even if a bit ambitious or optimistic, but I hope it works out for you.