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Definitely condo all the way. Houses suck, too much work, repairs, headaches, and yardwork. With condos you just sit back relax and write a check for the common fees.
This might sound crazy but if you're only staying in CT for 15yrs why not just find a house to rent. This way you can leave and not worry about selling anything. Plus probably save a lot of money. No down payment, no maintenance, no fixing up or selling costs, ect.
Since the OP has sold a home there would be tax implications if they did not buy another home. 15 years is a long time to rent. That said and given the OP's budget and desire to not have to do remodeling I think they have no choice but to go with a condo. With a family I personally would prefer a house but unless the budget increases I see no other option. Jay
Definitely condo all the way. Houses suck, too much work, repairs, headaches, and yardwork. With condos you just sit back relax and write a check for the common fees.
Sorry but there are still repairs in any home you own. Plus with a condo you have to deal with a condo association and their rules. Plus condo fees are not usually any lower than the cost of maintaining a house. Jay.
Sorry but there are still repairs in any home you own. Plus with a condo you have to deal with a condo association and their rules. Plus condo fees are not usually any lower than the cost of maintaining a house. Jay.
There are 2 scary words that keep me from ever considering a condo.
Thanks for all the help. I really appreciate the comments.
The condos I've been looking at are bigger than my current house (1900+) and my sister-in-law is a real estate lawyer. She'll be a great help at checking out if there are any special assessments coming up or if their HOA reserve is at the right amount (30%, I think?). I know, we could still get hit. Most of the condo fees are way more than we have ever paid to maintain our house.
On the other hand, We have lived in a house for 20 years, but are tired of the outside maintenance. We are just shy of the 55yr mark and don't qualify for the 55+. But we have all the yard gadgets so it would not be a hardship in that end. I just feel despite the cons, it's a better investment. Too bad I can't rework my budget.
That said, Has anyone heard of Fox Meadows in Cromwell or Oxford Crossings (forgot town)?
Thanks again.
The problem you're having is that at $210,000, you're near the bottom of single family home values for the towns you're searching. While it's not in handyman special value, it's also not often the renovated/ remodeled home you might prefer. You'd have to up your price to get that.
However, if you look hard, there are some remodeled homes out there in your price range, just not tons of them. Something like this
I, too, agree that you may be happier in a single family home than a condo. Many condos have pet limits and especially dog weight limits/ breed bans. Condos essentially were never designed for large family groups with pets. At that point most people buy a house.
Check also condo monthly fees. While condo taxes may be cheaper than single family home taxes, the added condo fees may push your total monthly bill right back into a range comparable to a single family home. Although you might get a pool, tennis courts, etc. thrown in, if that's important to you.
Good luck in whatever you decide.
I'm guessing that this one doesn't look as nice as the photography might suggest.
Thanks for all the help. I really appreciate the comments.
The condos I've been looking at are bigger than my current house (1900+) and my sister-in-law is a real estate lawyer. She'll be a great help at checking out if there are any special assessments coming up or if their HOA reserve is at the right amount (30%, I think?). I know, we could still get hit. Most of the condo fees are way more than we have ever paid to maintain our house.
On the other hand, We have lived in a house for 20 years, but are tired of the outside maintenance. We are just shy of the 55yr mark and don't qualify for the 55+. But we have all the yard gadgets so it would not be a hardship in that end. I just feel despite the cons, it's a better investment. Too bad I can't rework my budget.
That said, Has anyone heard of Fox Meadows in Cromwell or Oxford Crossings (forgot town)?
Thanks again.
If I recall, condo associations are only required to disclose assessments coming up in the next 12 months. I may be mistaken on that, though. So, if a roof replacement is due in 2-3 years, it may be something that will not be disclosed.
I grew up in Cromwell, so I've heard of Fox Meadows. However, there are so many condo complexes in town that they all kind of run together to me, so I can't tell you anything especially useful. (I think Oxford Xing is in Cromwell as well)
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