Afraid of Commitment?
My roommate told me he was looking to buy a condo within the next year, and I asked him a question:
Where do you want to live for a really, really, really long time? 
I’m as afraid of commitment as the next Millenial, and even bargain foreclosures make me wring my hands with anxiety for the sheer length of time I’d need to hold onto that dream condo. In spite of everything happening on Wall Street, it still holds that if you buy property now, you will make a profit in a really, really, really long time. Some people don’t have that kind of patience, or will, to commit to a location for a decade or two.
Commitment-phobia is never a good quality if you’re an investor, but the problem with real estate is that you may actually live in your investment. If you get that condo on the lake, it’s going to be extremely cold. If you get that home off of 41, you will hear large trucks pass by at 3 a.m. But a two-bedroom condo for under $200k? Oh, what’s a twenty-something to do!
If you’re thinking of possible exit strategies (always have an exit strategy), consider renting, if things don’t work out with your location. My mother and I teamed up and cut her condo in half, renting out half with a kitchen, and keeping the other half as a grand hotel suite for when she visits the North. As a snowbird herself, she’s dealt with the commitment issue herself, and finds that renting is the best way to get that mortgage paid.
Also: never forget about the housing swap. If you have to get rid of a place that you buy and you know where you’re heading next, swapping similarly priced homes helps you avoid closing costs and bidding wars. As long as you can trust your swapping partner, this is a solid way to save some worry.
There; you have yourself an exit strategy, now go snatch that sweet foreclosure.
1945 Jackson Ave
Evanston, IL 60201
Price: $174,800
Beds: 5 On Redfin: 104 days
739 Lamon Ave
Wilmette, IL 60091
Price: $344,900
Beds: - On Redfin: 35 days
Baths: 2 Year Built: 1958
Baths: 2
