Does anyone live in a Condo? (Pendleton: real estate, maintenance, landscaping)

[kattygirl27]

So we have found 3 places that we are considering. One of them is a Condo and it actually is a whole lot cheaper than the other two. It is in 46235 area code. So I have two questions. 1) Does anyone know that area? 2) If you buy a condo in Indy is the land it is on yours? I don't want to buy something and then find I have to move the building because they want to use the property for something else. Any info is greatly appreciated.

[sweetana3]

Condos are not trailers. They are real estate and just like a house are fixed and taxed as pure real estate. The ordinary type are where you own what is inside your walls and a percentage of the "common" areas. You pay a monthly fee to cover such things as maintenance of exterior, pool, landscaping and things like trash, etc. You need to check each development for what is and is not included in the monthly fee.

They are usually less "valuable" because often they come with restrictions on what can be done to them, you live closer to neighbors, they may have less privacy depending on how built, they usually have no yard, you have a fixed monthly fee, etc.

However, we are now seeing million dollar apartment condos in areas like downtown and they are found in every price range.

I have lived in a condo and my issue was with disagreements with other owners. It is mostly majority rule (check your condo documents) and if you dont like it, you are stuck. Beware older condos with other wealthier owners (like in certain downtown units) where the others with more money can agree to assess everyone for common area upgrades. You only have one vote and can find yoursef with a several thousand dollar assessment to pay. Also watch your construction quality, reserve fund accounting, etc. Make sure they are saving the appropriate amount for future repair.

I dont want to be too pessimistic because we are going to buy a patio home next and will be in a condo unit. It is important to know what you are buying and what may or may not happen.

[sweetana3]

I dont know that area well. It is south of Pendleton Pike and east of 465. Is the condo Winding Ridge? These floorplans are built all over the area and they are the ones I will be buying. For me there is "just enough" yard and space.

You might just knock on doors and talk to people living there about their issues.