[richrf]

Hi all,

Just moved to Stamford with my wife coming from Chicago where we live in a condo for 35 years. During this time we learned much about condo life and management (I was on the Board several times). We are retired at 63 and presently renting at Glenview Apartments in Stamford, 2bd, 1250 sq ft, at $2800 a month. It would be nice to reduce our cash outflow from savings so we are considering the purchase of a condo either here in Stamford (inventory is reasonable) or in the vicinity.

We would appreciate any advice or thoughts on condo ownership in Stamford. We would prefer one where there is an association with high owner occupancy and in which individual owners are very active with frequent Board turnover due to high owner involvement in the association. Thanks for any ideas or tips!

[SandyJet]

Originally Posted by richrf

Hi all,

Just moved to Stamford with my wife coming from Chicago where we live in a condo for 35 years. During this time we learned much about condo life and management (I was on the Board several times). We are retired at 63 and presently renting at Glenview Apartments in Stamford, 2bd, 1250 sq ft, at $2800 a month. It would be nice to reduce our cash outflow from savings so we are considering the purchase of a condo either here in Stamford (inventory is reasonable) or in the vicinity.

We would appreciate any advice or thoughts on condo ownership in Stamford. We would prefer one where there is an association with high owner occupancy and in which individual owners are very active with frequent Board turnover due to high owner involvement in the association. Thanks for any ideas or tips!

somethings like individual owners who are very active and frequent board turnover only owners in complex would know.

Stanford has basically stand alone zero amenity older condos to fancy new condos with a ton of amenities.

I would guess how much you want to spend, how much monthly maint and annual RE taxes is in your range and what type of amenities or type of condo you want will eliminate around 80% of the condos and then you can research by condo.

I own a condo and it has zero amenities. A condo near mine has tennis, pool, gated community, club house, a dock etc. Is one better than the other well it depends. My condo attracts more snowbirds and investors mainly cause folks dont like to pay higher taxes or maint for stuff they dont use much.

The other attracts more 52 week a year full time residents who want to use the services.

At 2,800 a month rent buying is a no brainer if you find the right place. ALso Coops are popular here and they dont allow renters at all usually and are cheaper

[richrf]

Originally Posted by SandyJet

somethings like individual owners who are very active and frequent board turnover only owners in complex would know.

Stanford has basically stand alone zero amenity older condos to fancy new condos with a ton of amenities.

I would guess how much you want to spend, how much monthly maint and annual RE taxes is in your range and what type of amenities or type of condo you want will eliminate around 80% of the condos and then you can research by condo.

I own a condo and it has zero amenities. A condo near mine has tennis, pool, gated community, club house, a dock etc. Is one better than the other well it depends. My condo attracts more snowbirds and investors mainly cause folks dont like to pay higher taxes or maint for stuff they dont use much.

The other attracts more 52 week a year full time residents who want to use the services.

At 2,800 a month rent buying is a no brainer if you find the right place. ALso Coops are popular here and they dont allow renters at all usually and are cheaper

Thanks very much for sharing your insights.

Low or no amenities would be the best since I rarely use amenities and they usually add to the HOA cost. While $500,000 max would be ideal, the operation and maintenance of the association along with the nature of governance are most important since quality buildings tend to hold value better.


Coops are pretty much a non-starter for a variety of reasons.

Thanks again!

Rich

[The Macallan]

Originally Posted by SandyJet

somethings like individual owners who are very active and frequent board turnover only owners in complex would know.

Stanford has basically stand alone zero amenity older condos to fancy new condos with a ton of amenities.

I would guess how much you want to spend, how much monthly maint and annual RE taxes is in your range and what type of amenities or type of condo you want will eliminate around 80% of the condos and then you can research by condo.

I own a condo and it has zero amenities. A condo near mine has tennis, pool, gated community, club house, a dock etc. Is one better than the other well it depends. My condo attracts more snowbirds and investors mainly cause folks dont like to pay higher taxes or maint for stuff they dont use much.

The other attracts more 52 week a year full time residents who want to use the services.

At 2,800 a month rent buying is a no brainer if you find the right place. ALso Coops are popular here and they dont allow renters at all usually and are cheaper

SandyJet, do you mind sharing what are some of the Stamford condos without amenities?

Thanks!

[DelightfulNYC]

718 Cove Road #1, Stamford, CT For Sale | Trulia.com

There are 328 condos for sale so hard to say.

BTW amenities are fine in larger buildings. My friend lives in a very large condo tower a pool, gym, guard, pool and rooftop area. Amenities cost are spread among a huge amount of units.

But small buildings with an older pool, gym, clubhouse etc that need updating could hit you.