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but I find that it is a very poor decision to actually purchase a home in the same situation connected to other people. You don't own your home, you merely own a space within someone else's building and that brings out all kinds of legal areas where you can end up with the short end of the stick.
Well, talk for yourself.
I, for one, am a very bad handyman (the best thing I can do is paint a room-I did it last year, it took me a week to paint a 20sqft room.
And, also, I don't have the 200 000 $ to buy a decent house.
So I bought an apartment (with private garden, I'm ground floor) in a condo; I know that if there are pike leaks or big restoration work to do in the building, or to have a new elevator, etc I won't be the only one to pay for it, the other owners will share the costs.
Of course I bought in a HCOL area (hence smaller apartment, I don't care) so I'm with middle class honest people and I won't have problems whatsoever.
Many middle class own homes like I am speaking of. In fact, many "poor classes" own homes which I speak of. It isn't a "class" thing to be honest as much as it is what you want I guess.
As you said, you don't want the responsibility of a home. Fair enough, but you give up some liberties in the process. Ive seen some really bad outcomes with purchases like this even going as far as the building owner selling the property to another company and they find loopholes in the contract to which they buy you out (often at a loss on your side) and then evict you from the building. It all depends on the contract of course, but like I said, in the end you really don't own your property as much as you are leasing it for a lifetime. Anyway, too many loopholes in those properties for my tastes and that isn't even getting into essentially living room to room from someone.
Then again, I am the type of guy that will learn what needs to be done if I need to repair something or keep an emergency fund for things like that. I like the responsibility, makes it truly mine.
It is a perfect building for Chicago and yes I would love to live in that building. It is on the order of all the crazy buildings in Dubai, that are masterpieces. But the architecture in Chicago is utterly outstanding. I have lived in farmhouses, apartments, townhouses, ranches, duplexes, rented and owned. Every single one has had its charm and drawbacks, so I can certainly see the appeal of this building.
It would be an honor to live in a building created by the best Architect ever...Spaniard Santiago Calatrava. Check out his other works, this guy is amazing. YouTube - Charlie Rose - SANTIAGO CALATRAVA
No, I am not scared of terrorists either. I am also a believer that everything should be built UP, not OUT, and suburbia will die soon.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
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Quote:
Originally Posted by janeannwho
It is a perfect building for Chicago and yes I would love to live in that building. It is on the order of all the crazy buildings in Dubai, that are masterpieces. But the architecture in Chicago is utterly outstanding. I have lived in farmhouses, apartments, townhouses, ranches, duplexes, rented and owned. Every single one has had its charm and drawbacks, so I can certainly see the appeal of this building.
Yes but the difference in Dubai is that they don't have a few hundred Arabs out there thinking of how to knock that building down. We do. And you know they have to be thinking about it.
For me, I would probably take the risk if the price was right.
In Chicago on the water, the price will definately be right - for Oprah maybe. The promo for the building says that the sales center encompasses the entire eighteenth floor as has 20,000 square feet. And this is the sales center!
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