Considering the current market I believe you got a really good deal on that unit and really bought at a good time with prices being where they are. I agree with the other posters in that if you like it that is key and the value will likely increase in time.

Posted by: perplexed at March 24, 2009 4:55 PM in response to Good Buy? (Prospect Heights)

An issue with studios is that if your personal situation changes even slightly (say, boyfriend/girlfriend wants to move in), you will need to sell. Possibly you can sublet but some co-ops are pretty restrictive.

Whereas with a 1-br, you can accommodate another person, a large pet, even a baby/toddler, and ride out a bad real estate market.

I think most people on this site would agree that buying now is a bad short-term decision in general. In the longer term, say 5 years, you're probably ok.

But, you've got it, so enjoy it, make it your own, and try not to worry too much.

Posted by: Bolder at March 24, 2009 6:47 PM in response to Good Buy? (Prospect Heights)

Get real, folks, this isn't a genuine post. Collin, if you need to sell, check the local comps. if you're worried you made a crap investment, take some valium or xanax, go to bed and try not to worry (even though the sky is falling).

Posted by: 1929 at March 24, 2009 11:58 PM in response to Good Buy? (Prospect Heights)