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[AuntG]

If you like it, buy it. GS won't be in college that long so take the opportunity while you can.

[cam1234]

I seldom post responses but when I saw your post I thought I need to save this person or at least share my condo experience/ nightmare. I had never experienced condo life but due to needing a place to live because of a job relocation I purchased a 3 bedroom 3 bath condo . It was a well built condo in a great neighborhood but I could not adjust to people above , below and on each side of me it is called community living for a reason. My advice to you if it is not a TOP floor END  unit walk away!! I suffered for a year! I could hear the people above and below me and on each side of me, walking around , washing machines ,doors closing, toilets flushing , vaccumes running and these people were on all kinds of schedules  so this went on all day and night . When they had guest or their grandkids visit I literaly had to purchase a tent to put over my bed pile comforters on top , run a fan and use headphones while watching tv. After a year my nerves were shot and I could not get out of there fast enough. A lot of people living there loved it but I enjoy peace and quiet so it was completely my fault for not checking more and doing my homework on condo life but I was desperate needing to relocate. Remember top floor end unit or at least know who is above you!!!

[CJC]

@cam1234   You are so right. Living in a high rise condo unit is like living in a college dorm, and definitely not for me. We have lived in a townhome where each building housed two units making every townhome an end unit, nobody above or below. Presently live in a free standing condo which is really just a normal single family home except we have exterior maintenance. Even when we first married a thousand years ago hubby and I rented half of a duplex because we didn't want to live in an apartment building. 

[KathyM23]

@Luvsmyfam Since you are 67 I think it is a good idea to make a move now especially since you don't like where you are currently living and probably don't want to spend more of your life there. This would be the time for finding a place that will suit your needs to settle in and make life easier as you age and that feels like home.

 I would be looking for a one story (no stairs) a garage, safe neighborhood, room for washer/dryer.  I think a 2 bedroom so you have plenty of space around you.

Don't be too hasty and take the time to look around and see what all is available and affordable (not counting the income from your jobs) and think about how it will feel to be in the new place in the long run.   Find the place that makes you happy to come home to and think about how you will feel living in that space.

When I have to make a decision what helps me decide is to iist the pros and cons; the pluses and minuses.

Good luck and let us know about how you feel about the condo you spoke about after you see it.  

[gidgetgh]

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@RedTop wrote:

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!

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@Luvsmyfam - this is a key post that @RedTop posted.   You and I are the same age.

If working 2 part-time jobs is a necessity for you to maintain the expenses you have now, rent, etc., then no way would I take on a mortgage and put down a $50k down payment. Not at age 67, with mortgage rates high and a limited working future.

Do you work because you like to work and that income isn't so important, or do you need that income to make ends meet?  if you need the income to cover your current expenses, I would not purchase a new home. I'm not a financial advisor, but I just don't think that is wise.  Not at age 67.

Now, if you are working just because you like to and financially you are fine without that income, that is a different story.

I wish you the best with this. Oh, and I wouldn't let your grandson's situation factor into my decision at all,  

[Zwervend]

Both of my residences are condos. For me, it was the best choice. I have neither the time or interest in doing lawn work, shoveling, etc. 

I won't repeat any of the good advice that you've already been given. I'll add the following:

Monthly association fees: find out EXACTLY what is covered by the fee, not just the $$$$ amount. The monthly fee for my place in Michigan includes water, sewer, trash, lawn care, snow removal, garbage removal AND expanded basic cable and internet. For what we pay, particularly including cable & internet, it's an excellent deal. Once you find out the monthly fee at the place you're considering and what it covers, you'll then need to add in pricing for things it doesn't include to your monthly expenses to make sure that it's affordable.

Special assessments: These tend to be for big ticket repairs like multiple roof repairs when there isn't enough $$$ in the reserves to cover the expense. You'll want to know how often they have them, the $$$ amount, and what they're for. Having multiple assessments can be a sign of the association having some financial troubles.

Management company:Check out the property management company employed by the association carefully. Are they financially sound? History of property managers? Are they responsive to owner's needs?

Owner responsibility: Check the association rules carefully to find out exactly what kinds of things you, as the owner, are responsible for maintaining. At my primary residence, the association maintains my garage door, but I'm responsible for and am required to have a functioning door opener. Also, even though my deck is outdoors, it's my responsibility to maintain it's appearance and safety. At my beach place, the balcony is the responsibility of the association. You'll be surprised at how quirky those rules can be. 

No matter how much you may love the unit when you see it, you have a LOT of work and information gathering to do BEFORE you make an offer. Make sure you're truly ready to be a home owner, because all of those interior repairs or busted appliances that you used to call your landlord to take care of are now firmly on your plate to handle. Best of luck to you. 

[10sluvr]

We downsized to a stand alone condo and couldn't be happier. We stayed in our small town, in MI, still close to the kids. Assoc. pays for all outdoor maintenance and are responsible for exterior of houses.(roof, siding, sidewalks, etc.) We have 3/3, fireplace and full basement with daylight windows. i think 50 homes in all and some great neighbors.

When we applied for morgage, there was some extra paper work required from the condo mgmt. Bank needed proof of insurance and something else, i can't remember. Point is it took a little longer to process application.

good luck. sounds like you need to move to something that would make your life easier and happier.

[shelbyshelbyshelby]

Have you looked into 55 communitys? Many include amenties . The HOA prices are varible . These are homes and condos. 

Good luck in your rearch.

[sabatini]

Hi @Luvsmyfam.

For what it's worth: I used to be of the mindset 'Friends don't let friends buy condos.' because of what I saw a friend go through w/ sky rocketing HOA fees and assessments.

Years later, I bought a condo,   which is where I currently live.

It's a 2 story townhome, & I love living here! It's in a lovely area, & is safe; the perfect place for me.

That's the plus side.

The downside? Just like what happened to my friend, over the years, the HOA fees have greatly increased.

I'd thought they were high when I purchased here ($100+/month), but they're now $400 per month.

I luckily have no mortgage, though still work because I need to.

I'm alright.

Think about it, OK?

[Trailrun23]

You will be giving up half of the space you have now as well as moving across town, so just consider carefully. Only you know if it would be worth it to make those changes and get away from your scumlord. I hope it works out well for both you and your grandson.