topic Re: This condo may be it in Home

This condo may be it

Luvsmyfam — Wed, 06 Sep 2023 02:41:38 GMT

OK Q buddies,tell me what you think.I found a condo and going to see it soon.It is in my price range,location is good,hoa not to bad.Im down right scared to let loose of a 50,00 down payment.Ive been in my townhome for 12 yrs It has steps which can be a pain sometime.(not to mention a puke of a scumlord)In the winter,I have a horrible hill getting out of my driveway.Scumlord only allows a plow to clear drive when there is 4 in or more.Looking at the pictures,it is DARLING.Even a gas stove,and laundry in the unit.Im used to a 2 br 2 bath.This has e br and 1 bath.Also a 1 car garage.Another concern of mine,is my grandson lives with me now so he can go to college(I live across the street)This would end,bc it is clear across town.

Re: This condo may be it

Terrywu — Wed, 06 Sep 2023 02:49:49 GMT

Good luck with whatever you choose. Give it some serious thought.

Re: This condo may be it

Janey2 — Wed, 06 Sep 2023 03:00:22 GMT

As I understand it you have to decide if having your grandson living you is more important than moving. Tough decision. Will it be hard for him to attend the college if you move or just an inconvenience for him? Maybe keep looking and something will turn up in your area. In any event go see it. In person it might not be so attractive. Good Luck

Re: This condo may be it

FancyPhillyshopper — Wed, 06 Sep 2023 03:11:44 GMT

I do not know where you live, or what you consider reasonable in price.

However, based on your comments, it seems you are somewhat unhappy with your current living situation. I suppose you must like something about it since you lived there for twelve years. Think about the positives, and then compare those with your potential move.

I am guessing you must rent your townhome rather than have it as a purchase--will that be the same for the condo? If you own, how complicated will the purchase/sale be, and do both units have good resale value?

I would recommend that you not make a decision based on a grandson temporily living with you.

You need to weigh the pros and cons--

Will you be fine with a smaller living situation?

Is the price affordable?

Will the price be stable for a few years?

Is the location convenient for you, and is the neighborhood safe?

Have you talked to any current residents about whether they are pleased with their condo organization?

As a child I lived at the bottom of a hill, so I made sure that I would never be in that situation as an adult.

As a home owner, I am responsible for all my own shoveling, house repairs, taxes, utilities, etc., etc. I would want to know everything included in the condo fee!

Remember to put yourself first, it is okay to be picky, get an inspection, and ask a lot of questions! Photos are nice, but the reality is what matters.

Best wishes!

Re: This condo may be it

PickyPicky3 — Wed, 06 Sep 2023 03:52:29 GMT

When you purchase a condo, you need to learn about the physical condition of the individual unit and the financial condition of the association. Some associations are managing on a shoestring. Others have plenty of money in the bank. Sometimes the board won't give you this information. You need to know.

Don't use the realtor that has listed the unit. Get your own. You need to be shown recent comp sale prices.

I doubt you will ever find supplied plowing service that plows under 4". The cost would be prohibitive.

You need to visit the condo neighborhood on weekdays and weekends and day and night. There can be big differences.

Your grandson will be done with college in the blink of an eye. This decision is 100% about your needs and desires.

Good luck!

Re: This condo may be it

Mindy D — Wed, 06 Sep 2023 04:08:39 GMT

@Luvsmyfam wrote:
OK Q buddies,tell me what you think.I found a condo and going to see it soon.It is in my price range,location is good,hoa not to bad.Im down right scared to let loose of a 50,00 down payment.Ive been in my townhome for 12 yrs It has steps which can be a pain sometime.(not to mention a puke of a scumlord)In the winter,I have a horrible hill getting out of my driveway.Scumlord only allows a plow to clear drive when there is 4 in or more.Looking at the pictures,it is DARLING.Even a gas stove,and laundry in the unit.Im used to a 2 br 2 bath.This has e br and 1 bath.Also a 1 car garage.Another concern of mine,is my grandson lives with me now so he can go to college(I live across the street)This would end,bc it is clear across town.

@Luvsmyfam @Why not just keep looking? something could come up.

You can also see another real estate agent that might find you something. Buyers are not obligated to stick with just one agent.

Re: This condo may be it

ValuSkr — Wed, 06 Sep 2023 11:03:23 GMT

It sounds promising! Will you be renting or buying? Will your grandson be able to find other accommodations?

Re: This condo may be it

kaydee50 — Wed, 06 Sep 2023 12:38:00 GMT

Agree with others that you need to SEE the condo. Trust me, there can be a big difference between the pix and reality!

Also agree that your decision should not be based on your grandson's needs. He will be out of college soon enough. Put your needs and priorities first.

Good luck!

Re: This condo may be it

Luvsmyfam — Wed, 06 Sep 2023 12:41:03 GMT

@ValuSkr I would be buying

Re: This condo may be it

CJC — Wed, 06 Sep 2023 13:03:29 GMT

We are living in a free standing condo. This is our 6th HOA neighborhood. There are many things to consider because you will gain some things and lose some things. Above all, have your real estate agent show you proof that the HOA is fully funded. With inflation, many are not. Fully funded means there is enough money in the reserves to cover the big ticket items like new roof, replacement sprinkler system (here in South), exterior painting, road repaving if it's on a non-county road, street lighting, landscaping (will your shrubs and trees be trimmed or just a fast grass cut). If not fully funded and condo is older than 15 years these costly repairs can be a huge assessment to the condo residents. Check out your neighbors and ask how many units are rentals because high percentage of rentals decreases value. Are there mostly older people living there or young families with kids? Is it convenient to the places you will need to get to as you age? Check crime in area. Family nearby to help you out? Good luck!

Re: This condo may be it

On It — Wed, 06 Sep 2023 13:27:47 GMT

Most important in real estate is location, location, location. The location cannot be changed. Paint, flooring, and even the structure itself can be upgraded.

Moving across town (unless it is a very small town) is a big decision. How does this affect your commute? Are favorite grocery stores nearby? Is there a coffee shop?

As others have mentioned, see the property first. It rarely looks as good as the photographs. The neighborhood could be wonderful or awful. Is a one bedroom too small? If you have doubts keep looking.

Re: This condo may be it

Sooner — Wed, 06 Sep 2023 13:45:58 GMT

I agree location! Where you live, the environment, traffic, general atmosphere, is far more important to me than the exact home of my dreams. If your surroundings aren't peaceful, it's too stressful.

Re: This condo may be it

Love my grandkids — Wed, 06 Sep 2023 14:24:48 GMT

@Luvsmyfam Lots of good advice here. Get an independent real estate person, check out the area weekend and weekdays, days and evenings and get an inspection before you finalize any purchase.

Your GS won't be living with you forever.

Re: This condo may be it

RedTop — Wed, 06 Sep 2023 15:53:41 GMT

Ok, so this equation works out to:

your're 62+, drawing SS, and working 2 part-time jobs to have what you have now. How much longer do you plan to work? If you are forced to live only on your SS, will it cover all of your bills as a homeowner?

That down payment money is at least a nest egg for now!

Re: This condo may be it

Puppy Lips — Wed, 06 Sep 2023 15:50:42 GMT

Do what is best for you at this time.

I would not let your grandson figure into your decision.

Re: This condo may be it

GingerHead — Wed, 06 Sep 2023 16:11:26 GMT

@Luvsmyfam

Lots of good advice here and I just wanted to add that moving can be so much fun and a great new adventure but don't fall in love with a property too quickly.

Do your research and know that if this one doesn't work out there's always one that's just as good or better coming down the pike.

As far as your grandson is concerned, as was mentioned before, he'll be done with school soon and you'll be living in whatever place for many many years so I'd be more concerned about my living situation.

He'll be ok with a little notice and maybe a little help...

Good luck!

Re: This condo may be it

Luvsmyfam — Wed, 06 Sep 2023 16:11:48 GMT

Redtop,I am 67 not 62 ans yes,I've thought of all this

Re: This condo may be it

RedTop — Wed, 06 Sep 2023 16:44:07 GMT

@Luvsmyfam

Those facts would be clear enough for me, but I'm not one to carry debt.

Re: This condo may be it

Desert Lily — Wed, 06 Sep 2023 16:45:27 GMT

@Luvsmyfam Mortgage interest rates are currently extremely high, hovering at 7.75%. That pushes the monthly mortgage payment significantly up. If you're planning on getting a mortgage, you might want to consider that.

When mortgage rates go down, buyers have a greater choice bc they can afford a higher price on a home & more properties are on the market.

Re: This condo may be it

drizzellla — Wed, 06 Sep 2023 17:36:48 GMT

@Luvsmyfam I do not live in a condo but own a time share which has similar features.

Is this condo you are looking at, new construction? When it opens they have formulas to calculate maintenance fees. They try their best but it doesn't always work. And adjustments have to be made.

Would the condo be affected by weather events? My timeshare has about 20+ different locations. A hurricane goes through and the fees skyrocket. Generally the fees are stable. But then they refurbish the buildings.

Just paying the bills at my company, I was shocked at the charges for plowing snow and grass cutting.

Please make sure you have wiggle room for increases in HA fees. It will only go up.

Hope what ever you decide is the best decision for you.