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Her name will be on the mortgage. Regardless if something happened and we split up things wouldn't play out like they did for your friend. We're not those type of people and have a lot of love/respect for one another.
haha. thats a good one.
if you arent married i think the best thing to do is put the home in the name of one person. when things dont work out, that person will get stuck with it. easier than splitting it up or dealing with selling it with 2 owners that hate each other.
Oh yeah believe me craigslist is my best friend (or worst depending on how you look at it haha) Thanks for the info on your mortgage too. All of the places I have been looking at have association fees or "maintenance fees" of $200 or less.
that's good. i think of those fees this way: $200/month i can be savings towards my own house maintenance costs. but, my sister loves her townhouse - to each their own.
my mortgage payment right now is also benefiting from ridiculous interest rates. i'm at 3.875%.
that's good. i think of those fees this way: $200/month i can be savings towards my own house maintenance costs. but, my sister loves her townhouse - to each their own.
my mortgage payment right now is also benefiting from ridiculous interest rates. i'm at 3.875%.
That is low, when I was pre-approved they quoted me at 5%. What lender is that?
that's good. i think of those fees this way: $200/month i can be savings towards my own house maintenance costs. but, my sister loves her townhouse - to each their own.
either way they are maintenance costs. they should cover stuff that you would normally spend but dont have to because the community does it. my community fees cover garbage, snow removal, landscaping, pool, tennis courts, community building.
either way they are maintenance costs. they should cover stuff that you would normally spend but dont have to because the community does it. my community fees cover garbage, snow removal, landscaping, pool, tennis courts, community building.
There's a condo for sale in my area for 250k, very nice, but the maintenance fees are $400, maybe more I don't remember exactly. The place has no gym, no pool, I don't know why it is so high. I guess that's why it hasn't sold in over 7 months, that and the taxes are 10K
There's a condo for sale in my area for 250k, very nice, but the maintenance fees are $400, maybe more I don't remember exactly. The place has no gym, no pool, I don't know why it is so high. I guess that's why it hasn't sold in over 7 months, that and the taxes are 10K
How old is it? Maybe it needed a project done, like a new roof, etc?
The fees for a new condo development are the lowest they are ever going to be. They usually just keep going up and up.
Then there will be big projects where each owner be charged an "assessment" (hey, you owe us $5,000 pay up!). Sometimes these projects are financed and rolled into the association fees.
Condos can be good for some buyers, but they can also be a total nightmare when things go sideways.
There's a condo for sale in my area for 250k, very nice, but the maintenance fees are $400, maybe more I don't remember exactly. The place has no gym, no pool, I don't know why it is so high. I guess that's why it hasn't sold in over 7 months, that and the taxes are 10K
that sounds like a lot and you are probably right that it makes it a tough sell. my community is detached single family houses. the fees are 365 a month. when i lived in a coop in brooklyn worth about 160k, my fees were around $800 a month. it covered taxes, gas, electric, maintenance of the grounds. it was high but not super high considering what it included. i did get some moaning when it came time to sell the thing. the worst part was how long it took to sell though, id never advise anyone to buy a coop and i feel sorry for the girl that bought my place (for that reason, the place was fine otherwise).
that sounds like a lot and you are probably right that it makes it a tough sell. my community is detached single family houses. the fees are 365 a month. when i lived in a coop in brooklyn worth about 160k, my fees were around $800 a month. it covered taxes, gas, electric, maintenance of the grounds. it was high but not super high considering what it included. i did get some moaning when it came time to sell the thing. the worst part was how long it took to sell though, id never advise anyone to buy a coop and i feel sorry for the girl that bought my place (for that reason, the place was fine otherwise).
You pay 360 for a single-family home association? Or is a townhouse?
How old is it? Maybe it needed a project done, like a new roof, etc?
The fees for a new condo development are the lowest they are ever going to be. They usually just keep going up and up.
Then there will be big projects where each owner be charged an "assessment" (hey, you owe us $5,000 pay up!). Sometimes these projects are financed and rolled into the association fees.
Condos can be good for some buyers, but they can also be a total nightmare when things go sideways.
It's only about four years old!
Quote:
Originally Posted by CaptainNJ
that sounds like a lot and you are probably right that it makes it a tough sell. my community is detached single family houses. the fees are 365 a month. when i lived in a coop in brooklyn worth about 160k, my fees were around $800 a month. it covered taxes, gas, electric, maintenance of the grounds. it was high but not super high considering what it included. i did get some moaning when it came time to sell the thing. the worst part was how long it took to sell though, id never advise anyone to buy a coop and i feel sorry for the girl that bought my place (for that reason, the place was fine otherwise).
In this place the fee doesn't cover gas or electricity, not sure about taxes.
You pay 360 for a single-family home association? Or is a townhouse?
What do you get for that? That sounds high.
its a detached single family home but its zoned as condo and the community takes care of the grounds for each house. they do landscaping, remove snow, remove the garbage, we have a pool and tennis courts, a playground for the kiddies, a club house with a gym. i like not having to worry about any of that stuff so im satisfied with the deal. i would also say they do a good job and i get a high end level of service. when it snows they have a crew shoving the walkways to our front doors and they have lots of big and small plows all over during the night.
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