InvestorNewb wrote:I found a condo (currently being built) for sale in my area for 200k but it is only 400 s.f.
Have you lived in a 400 sq ft place before?
InvestorNewb wrote:and doesn't have a balcony or separate bedroom.
Is this common for the area? Are the other features (kitchen, bathroom, etc) comparable to similar sized places in the area? (I rented a place thats kitchen was criminally small even by small standards. Accordingly it was a lot cheaper to rent. Fine for a short period of time under my particular circumstances at the time but certainly wouldn't have wanted to have owned the place.)
InvestorNewb wrote: It's in a main city downtown and close to transit, so I'm thinking about getting it.
How big of a main city are we talking about? Is public transport the way most people get around in your location? Does it have parking? Is parking important for the area? (I have lived in quite a few major cities around the world where 200k wouldn't get one 400 sq ft. On the surface, that makes me wonder whether the demand for such a small place is really that great in your area)
InvestorNewb wrote:Does this seem like a good idea ? Or am I basically 'writing off' finding a wife/having children one day by getting a unit this small.
Well, it may help prevent you from marrying the wrong woman
How many years until you would even consider having kids? (I managed in a 370 sq ft place with my wife and child until the child began to crawl at around 6 months then it was time to move)