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I wanted any information about The Club. My neighbors recently sold their townhouse and decided to rent a unit at The Club instead of buying again. When I went to visit them, I was surprised that a huge complex existed at that location. I have only lived in PSL for 6 years. I actually LOVED The Club. It's very well taken cared of and the location, location, location! has me smitten with the whole idea of downgrading from my three bedroom townhouse to a small two bedroom unit in there. With the money I would get for my townhouse, I can buy the unit cash, gut it and remodel the whole thing to my liking. I would still have money left over after its all said done. I love that it's just a small, extremely affordable and easily maintainable space.
The only obstacle is that my husband believes the place is a financial black hole. He is adamantly opposed to putting all of our money into a unit in there. He believes we will never get it back if we ever decide to sell or worse, the place switches from owner occupied to rental apartments (is that even possible legally?). They do look like apartments and I believe that they once were, from the research I did but I can't find any more information on them.
Would it be wise to buy in there? Does anyone know if the HOA is in the black? Is it plagued by assessments? Absolutely any information would help me make a more informed decision as to what to do.
You should definitely ask the HOA to show you your finances and also ask to be shown how many rentals are there . Don't take their "word" on the percentage of rentals , ask to see it in writing
I'm not looking for a place near the ocean but thank you for the reviews. It's put things in perspective.
We met with a realtor and he took us to see two units in the Belmont. They were a disaster. Basically a lot of these condos have been used as rental units so they are bad shape. Its kind of made me rethink this whole thing.
St Lucie West is most certainly NOT the "boondox" by any stretch of the imagination.
Just because you don't live or come to this area doesn't make it bad. It's actually newer than most of PSL with tons of shopping and restaurants plus immediate access to I95 and the turnpike.
Personally, I really like it in this area along with many many other people.
The ocean and beaches will always be there and for the few minutes extra it takes to drive to the beach occasionally vs every day living in an area that I enjoy, I will pick this area every time.
MOST of the Belmont are rentals. Did the realtor you used not tell you that? Also, how each of them looks on the inside depends on how the OWNER took care of that unit when the last tenant left. Many of them don't clean them up, or paint, or replace carpet when needed. That would apply to ANY condo that you look at.
Many owners think, well, I'm selling it so I'm not going to do anything and spend any more money on it.
Others think, well I should clean it up and make it look nice so it will sell faster. <<<<I'm with those kind of owners.
You aren't buying paint or carpet...you are buying a location and walls etc. All the other things can be fixed easily. I doubt you will walk in to any place and say wow...I don't have to do anything but move in... and it has the low price I want to pay too. There is always something you wish was different. perfect doesn't exist, almost perfect does
by the way.. ALL the units in the Belmont are individually OWNED... and the owners rent them out. They have a mgmt company there for the maintenance etc.
this is why you don't live or buy in places that allow lots of renters... check to make sure the place doesnt allow more than like 20% of the properties to be rentals at any time and some places dont allow you to rent before 2 years
the community was set up to be rentals...they didn't intend it to be owners only. Some owners may be living there but the others are owned for investment reasons. The OWNERS chose it to be a rental community from the start
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