Beware of Overbuilding!
Condominiums are popular — sometimes too popular. The most important point you can take away from this discussion is that while condo buying can be quite successful, it can be almost disastrous in some situations. The huge amount of overbuilding of condo complexes in some parts of the country has brought a glut of units to the market. You should be very careful not to buy in a saturated neighborhood, where it may be difficult to sell later because of a proliferation of other apartments for sale. Too many other units for sale in an area might cause your purchase price to drop over the years so that when you're ready to sell, you have to take less for your home than you paid for it.