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Who here lives (or has lived) in a condo?

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Who here lives (or has lived) in a condo?

 
Old 06-17-2019, 01:37 PM
  #81  
Nutmeg
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I lived in a condo for 25 years or so. It was alright. My condo association in the area I was living in was less active and in general better managed I thought. There were a couple other condo associations near me that sounded miserable to live in. For my association the grass was cut, and snow removed timely. The last year I was there a new roof was installed. I believe, don't remember for sure, costs were $400 a month toward the end of my ownership, which also paid for outside insurance.

There were a few instances were I had problems but in general nothing major. The set up for our condos was two units shared a building. My next door neighbor seemed to have gone mad at one point. He was an older guy with his hearing having trouble. He felt for sure when I wasn't home someone was else was living in my condo or breaking in to steal items. It became quite an issue for awhile as he felt items were being stolen and the police to be called. That was never the case. No one ever broke into my condo. I had security cameras installed in the home but for what ever reason that didn't solve the neighbors hearing issues. And he was our condo association President. I didn't have anyone to complain to about the harassment. Outside of that, being in a condo wasn't all that bad for me.
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Old 06-17-2019, 01:37 PM
  #82  
RIKKI Z-06
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Originally Posted by gixxerbill View Post
exactly talking to the neighbors when you ain't in the mood or busy or in a hurry is the worse. Also having an old lady neighbor that picked up a boulder held it over her head and threatening to chunk at you ain't no fun either. Luckily her and her husband passed and the hopefully the new neighbor is nicer.



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Old 06-17-2019, 08:46 PM
  #83  
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I keep doing the math and I can't see why to buy a condo. By the time I pay interest on the loan, property tax, and HOA fees, that's more than I pay now for rent. Then I would have to pay the principal on the loan. So why should I buy a condo that will cost me a lot more per month and only a fraction will be going to equity?
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Old 06-17-2019, 09:12 PM
  #84  
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Originally Posted by tireshredder View Post
I keep doing the math and I can't see why to buy a condo. By the time I pay interest on the loan, property tax, and HOA fees, that's more than I pay now for rent. Then I would have to pay the principal on the loan. So why should I buy a condo that will cost me a lot more per month and only a fraction will be going to equity?
In theory, property values will rise over time. In our area the appreciation of the units is outpacing the cost to own, so it is in our favor to own. This will depend on where you are looking of course and how the realestate market is doing in your area.

What you describe is the question of all home ownership, not just condo's, town houses etc. HOA fees on a condo are really no different than living in a subdivision that has amenities, this also covers the taxes to pay for all those things and maintenance, labor and a slush fund for the future to help fix things as they age. If you own a home and hire everything out, I am guessing you may even be ahead in the long run with a HOA?

Now rent; The people who own the property are profiting off you, they purchased it, do all the maintenance, pay for the amenities and taxes and yet still profit.... This should tell you something about renting...

I think most people who rent, like the freedom more than the financial side, you are never tied in more than a year and many of those leases have a back door to bail. When you own, it is yours until you sell or default (god for bid). But, In that it is yours, and you get the tax breaks, pride and secure feeling of ownership. But again, that may be a positive or negative depending on you...
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Old 06-18-2019, 03:31 AM
  #85  
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I live in a condo. Someone tried to break in my 4Runner when it was parked in the garage.
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Old 06-18-2019, 07:46 AM
  #86  
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Originally Posted by tireshredder View Post
I keep doing the math and I can't see why to buy a condo. By the time I pay interest on the loan, property tax, and HOA fees, that's more than I pay now for rent. Then I would have to pay the principal on the loan. So why should I buy a condo that will cost me a lot more per month and only a fraction will be going to equity?
In many areas of the country, it's way cheaper to Rent than the Own.

Almost any beachfront property is cheaper to rent.

Plus you keep Mobility if you rent.

You need 5 years in most areas to expect to make a profit after all your expenses.

Here in Shitcago 25% of homes are underwater by at least 25% since the 2008 housing crash.

Many have to bring money to the table to sell their home.

Plus we are at the Peak of housing, next turn down gonna be a *******.

Save your money then buy at a Massive Discount when the market crashes.

Real estate is and has always been cyclical.

Winter is coming, it's gonna be bad.
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Old 06-18-2019, 08:12 AM
  #87  
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Originally Posted by Tennis & Golf Nut View Post
In many areas of the country, it's way cheaper to Rent than the Own.

Almost any beachfront property is cheaper to rent.

Plus you keep Mobility if you rent.

You need 5 years in most areas to expect to make a profit after all your expenses.

Here in Shitcago 25% of homes are underwater by at least 25% since the 2008 housing crash.

Many have to bring money to the table to sell their home.

Plus we are at the Peak of housing, next turn down gonna be a *******.

Save your money then buy at a Massive Discount when the market crashes.

Real estate is and has always been cyclical.

Winter is coming, it's gonna be bad.
This is NOT everywhere, some of us have experiencing good and steady rebound of the Downturn. Our area is doing VERY well... Like I stated earlier, it depends where you live.

Amazing to me where the Dems control, things are still in the *******, hmmmm, high taxes, bailouts, welfare etc.... Maybe it is why realestate is still stagnant... Who wants to live there?
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Old 06-18-2019, 08:18 AM
  #88  
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Originally Posted by fyreline View Post
There. Fixed it for ya.
Wow, buying and owning are such drastic differences, thanks for pointing that....as if that makes ANY difference on the experience of LIVING there.
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Old 06-18-2019, 08:52 AM
  #89  
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Originally Posted by Bajaholic View Post
This is NOT everywhere, some of us have experiencing good and steady rebound of the Downturn. Our area is doing VERY well... Like I stated earlier, it depends where you live.

Amazing to me where the Dems control, things are still in the *******, hmmmm, high taxes, bailouts, welfare etc.... Maybe it is why realestate is still stagnant... Who wants to live there?

Yep. That's why I said "many areas" not all.

But even in areas that are improving in price you still need some decent appreciation to offset the cost when you sell.

For decades it was normally always better to buy vs rent, but not anymore.

Plus I hate buying at the peak, I think in many areas the Peak of housing is behind us.

The next crash will be Brutal, that's the time to buy at huge discounts.

Save your money for a rainy day, its coming sooner than most think.
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Old 06-18-2019, 09:46 AM
  #90  
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Originally Posted by knkayotte View Post
Use to be a plumber back in the day. Wouldn't want a ground floor unit if the sewer line backs up.

I installed this.





PHOTO NOT MY HOUSE OR RENTAL.

Last edited by Mikeceli; 06-18-2019 at 09:46 AM.
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Old 06-18-2019, 09:51 AM
  #91  
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aT AGE 22, i BOUGHT MY FIRST HOME. It was a condo and served it's purpose. Growing up in a Single Family Dwelling (SFD) I hated hearing the neighbor, that shared a wall w/ me. One year later, I bought a house and rented out the condo. It was the start of my Land-Lording sideline.
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