I Think I Found A Condo I Like. - Page 5

panda1234 · ‎04-27-2015

@JasoninBoston wrote:
I would just double-check the association's reserves.

I had a condo for 12 years in Boston and when I moved they had 300,000 in reserves which I thought was quite high. Two years after I moved in they needed to repoint the entire building and that was $7000 for my share of a special assessment. Over the 12 years there they ended up needing three more special assessments and my share was about $8000 each time! So a total of three special assessments in 12 years ended up being over $30,000. That was in addition to the $800 per month condo fee and the $8000 per year taxes.......

If buildings need new elevators that is another very costly repair and can be in large buildings over a million dollars....

Also, I would just ask about special assessments planned, if any are known and find out specifically about the age of the heating systems, cooling systems, roof and if there are any known needs. And then how much funds they have in reserves.

In the end, I decided on a rental....

@ JasoninBoston excellent advice that no one thinks of.

panda1234 · ‎04-27-2015

@RedTop I work in a nursing home and have seen a simple room change kill a person. It is just too much mentally for an older person.

Sooner · ‎03-10-2010

@CrazyKittyLvr2 wrote:
@Kachina624 I think they are concerned because they would be quite a bit farther away if I had anymore health issues. Right now 1 lives with me and my son is only 4 miles away.

I've had 1 stroke, albeit a small one, but still a stroke. I have high BP and even after a new hip and knee I still don't get around like I used to. Plus I have a bad back.

@CrazyKittyLvr2 You need to consider what your location will do to your kids when, and it can happen, you may need care. They should be close enough to not have to take lots of leave from their jobs for small trips to see about you or consult on your care.

Where you live likely will affect them, their jobs, and their families greatly and should be a consideration. It's just the way it works. It is difficult for all,but since it affects all everybody needs a voice.

godi · ‎03-09-2010

I moved to a condo 4 years ago. Same size as the one you are talking about. I got to be honest I am having a difficult time cleaning it all. My house was smalller. I dont like being attached to someone. Everyone knows your business here. I just truly am unhappy. We do not have excess fees because no association so that's good from what I've read here. If I had to do this again no no no.