Investing is Not for the Faint of Heart

So, I saw several condos yesterday. I don't even know how many I've seen since I began my search a month ago. I do feel that I've seen enough, though, and there are now two places on the short list. True to form, we're going to make a list (yes, I refer to myself as WE. It's easier if we all just get used to it!). So here goes:

Blue Carpet

Pros

Location! Corner of 8th E. and 1st S, perfect downtown location that is pretty much exactly halfway between work and school. Also, in the long term, this unit would be easy to rent out and/or sell because of the location

Washer/Dryer Combo. The idea of putting clothes into one machine and then taking them out dry in 2 hours is very appealing.

Light. The window in the bedroom is awesome! It makes the blue carpet in that room bearable. Plus, the trees outside of the window make it very private even though its so big.

LOCATION.

Parking. Parking is under the building. That means no scraping snow and ice off the car

New Flooring. The kitchen and bathroom were both recently updated with stone tile flooring.

Kitchen is a good size. It's bigger than most I've seen. There isn't a pantry, but there are a million cupboards.

Did I mention LOCATION?

Cons

Price. The listing price is $15K more than I want to pay. This, of course, is due to the location.

Carpet. Blue carpet to be more exact. The seller, however, is planning on replacing the blue carpet in the bedrooms. The carpet in the main living spaces is a neutral color that isn't too bad. But its still carpet, and there is particle board underneath it.

Other updates. The counter tops needs to be replaced, the cabinets need to be refaced (at the least), and the bathroom needs some additional work.

Storage: the lack there of. No separate storage unit.

Amenities. Again, the lack there of. No pool and not much in the way of grounds, yet the HOAs are still $170/month.

And now onto the next option, which I saw for the first time last night.

In Holladay

Pros

Price. $3K less than target is definitely a benefit.

Location, but not for the same reasons as Blue Carpet. This one is close to The Turtons, and in same area that I live now (which I like more and more every day despite the effed up roads).

Space. This unit is over 1000 square feet. (Blue Carpet is 933).

Cabinets. The kitchen cabinets are relatively new.

Bathroom Set Up. The toilet and shower are separate from the vanity, which is a good enough alternative to having two bathrooms I suppose.

Fireplace. These units have awesome fireplaces, but they're in strange places that make it hard to configure furniture. This one has bank seating, though, and that is awesome. I'm going to have to admit, at this point, that the fireplace and its seating area is initially what made me consider this unit.

Top floor. No upstairs neighbors to hear through the ceiling.

Amenities. The pool is practically outside the front door.

Storage. The unit comes with a storage closet outside the front door.

Cons

Top floor. Yes, this is also a con because there are three flights of stairs. That may end up being a good thing for my legs and butt, but the prospect of moving furniture up three flights of stairs is daunting.

Location. With so many other units in that exact same location, it may be hard to sell or rent this place in the future. Also, still have to commute to work/school.

Sandwiched. Not a lot of windows in the unit. There's a sliding glass door onto the deck, and windows in both bedrooms in the back of the unit, and that's it. No windows on the sides because there are neighbors in both directions.

Outdoor Space. Present, but tiny. The balcony is probably 4 ft X 4ft.

As I anticipated, making this list has helped tremendously. All things considered, I think that this one is the right one for me. Considering the price, I might even have some money left over to buy furniture! I think that it's a good investment too, because the Cottonwood Mall is going to have to be built again eventually. Maybe not within the next two years, but eventually, and that's going to be good for real estate values in the long term.