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Old 03-28-2018, 11:28 AM
 
Location: N of citrus, S of decent corn
34,549 posts, read 42,724,437 times
Reputation: 57209

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Quote:
Originally Posted by Heidi60 View Post
Please read other HOA threads before you fall for the Condo scheme. You need to fully understand that if you can't pay fees or special assessments, they can and will take your unit. I would rather cut my own grass then get tangled up in their mess. Please, please, read up on them before you sign anything.

Maybe you can find some online work to supplement your income, but you need to thoughtfully improve your situation soon. Reverse mortgages are something you could think about in the future but they aren't the best option and are expensive. Does your community have Habitat for Humanity which might help you with your home repairs?
True, that many are not suited to HOAs. We looked into a condo once. The fees were for exterior maintenance...things like gutter cleaning, outside painting, and landscaping. Oh, how wonderful to be free of those things, we thought. But as we read the covenants, we became more and more horrified, and realized we could never tolerate all the rules.
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Old 03-28-2018, 11:57 AM
 
Location: equator
2,608 posts, read 1,113,033 times
Reputation: 6347
We love our condo. Bad neighbors---sure, sometimes. But they were far worse when we had 5 acres, LOL. I love the built-in social life, if you want it. You never feel "alone", but you can be, if you want that.


For every condo horror story, there's an equal SFH horror story. Been there, done both.


It's not too bad, looking out at the rolling waves right now....
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Old 03-28-2018, 04:44 PM
 
Location: Indianapolis, East Side
691 posts, read 349,583 times
Reputation: 1604
Quote:
Originally Posted by Winter Sucks View Post
Thanks for the responses but some of these aren't viable options for me.

The only 55 and over communities I see near my job are assisted living facilities.

It's a nightmare dealing with any government entity so contacting HUD will end up being a source of frustration. I'll probably get no financial assistance and end up being cited for violations instead.

There aren't too many jobs "that" close to my current home. I had been applying more than six months before I got this one so I had to take it. I do like the job and people and want to keep it until I retire.
What about Habitat for Humanity? That's a private charity.
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Old 03-28-2018, 05:08 PM
 
Location: South Carolina
13,105 posts, read 17,640,353 times
Reputation: 22454
No habitat for humanity does not help with repairs as previously stated and as I understand it they must have minor children to get habitat for humanity houses . I would call a real estate agent and see what they suggest that is your first step and if they say just sell it as is then at least you know where to start and then get moving on it . Good luck to you dear this must be frustrating to you .
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Old 03-28-2018, 08:44 PM
 
Location: Indianapolis, East Side
691 posts, read 349,583 times
Reputation: 1604
Quote:
Originally Posted by phonelady61 View Post
No habitat for humanity does not help with repairs as previously stated and as I understand it they must have minor children to get habitat for humanity houses . I would call a real estate agent and see what they suggest that is your first step and if they say just sell it as is then at least you know where to start and then get moving on it . Good luck to you dear this must be frustrating to you .
Yes, Habitat for Humanity does repairs, at least in Indianapolis and probably some other locations. You don't have to have minor children.

The Homeowner Repair Program is designed to help low-income homeowners who are struggling to maintain the integrity of their homes.
By participating this program, homeowners are able to reclaim their homes with pride and dignity. The focus of the Homeowner Repair Program is on exterior, health and safety, and energy efficiency repairs. These could include, but are not limited to:
  • Roofing and gutter repair
  • Sidewalk, porch and patio repair
  • Accessibility
  • Siding repair and replacement
  • Window repair and replacement
  • Insulation
  • HVAC replacement and repair, including furnaces and water heaters
Eligibility
Homeowners must meet the following basic program criteria to be eligible for consideration for the Homeowner Repair Program:
  • Property must be owner-occupied and serve as the primary residence of all owners on title.
  • Property must be a single-family residence or duplex. Multi-family dwellings larger than two units and homes used as rental units are NOT eligible.
  • The mortgage and property taxes must be current on the property.
  • The property must be covered by homeownerís insurance.
  • Homeowners and/or household members must be willing to contribute some sort of Sweat Equity. THIS IS NOT A FREE PROGRAM.
  • Household may not exceed 80% of the area median income based on the most recent HUD Income Limits

Home Repair | Habitat for Humanity of Greater Indianapolis
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Old 04-02-2018, 08:33 AM
 
106 posts, read 39,970 times
Reputation: 176
Default Comment

If you have a home that is paid for, I would advise not taking on a mortgage for another property. I would especially advise this if you are having to dip into savings to make the new purchase. Do what you can to gradually pay for repairs. Maybe you could take on a temporary roommate (six months to a year) and use their rent to see to the house issues?

As far as purchasing a condo, I owned one and will never do it again. Itís true that you have no yard work and someone else sees to the footwork of exterior issues. The problem is is that condos are run by an HOA and the upkeep is only as good as the HOA that runs it. My HOA was horrible and upkeep was a huge problem. In addition, you can pay for things that you rarely use or donít directly affect you. Itís true that you can check the health of the place out before purchasing, but that has nothing to do with what it might be like in five years. New owners can mean a new approach to management, good or bad.

Condos can also be harder to sell. The condo community has to be on the FHA and VA approval lists to take those loans. Conventional loan companies often want to see the books of the community and can deny a loan based on too low of a savings to too many rentals in the community. Resale can be problematic. Some people have good condo experiences, but I would recommend not taking that route.
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Old 04-02-2018, 09:03 AM
 
Location: Wisconsin
272 posts, read 90,149 times
Reputation: 556
Quote:
Originally Posted by Winter Sucks View Post
Here it is in a nut shell. I'm a 56 year old single female who always worked clerical jobs and never made much, about $20,000 a year. I lost my long term job late last summer and received unemployment. Last week I started back to work part time and will try to scrape by. I have an old house that's completely paid for but it's causing me stress due to it needing lots of money for windows and foundation work because water sometimes comes in when it rains. I want to get out of this house and into a condo close to my new job because it's a 40 minute drive in the winter. I have about $100k in investments with 1/3 of that only earning 3% interest. I was thinking of using the 1/3 as a large down payment to keep my mortgage as low as possible because I'm not used to paying a mortgage. I'll never be rich in retirement and think I'd have more peace of mind getting out of this problem house. Any friendly advice would be appreciated.
I don't know of any bank that would lend money to you on a part time job. You would more than likely would have to be at your current job for a specific amount of time for them to even consider your application. Have you had a realtor look at your house and give you an estimate of what it would sell for if you put it on the market? Anything else you were interested in buying will more than likely have to be paid for in cash. Beware of condos and all the hidden fees.

Good luck to you, it's a tough situation to be in.
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Old 04-02-2018, 03:41 PM
 
3,043 posts, read 6,298,929 times
Reputation: 2039
I just bought a detached condo and have been happy. When I lived in FL I rented an attached condo and some neighbors did have some complaints. My hoa is more reasonably priced but in FL they were very costly and went up. Also with attached condos there is neighbor issues with air condition leaks, loud neighbors, wrong flooring on an upper unit which created noise.

I know a lot of people don't like hoa communities but I do if they do their job and enforce the rules and keep the community nice. Where my mom lives the hoa doesn't do its job but where my grandpa lives they do and they hand out fines regularly but it helps to keep the community nice.
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Old 04-02-2018, 05:35 PM
 
506 posts, read 222,834 times
Reputation: 1314
There isn't any space for a roommate here. I live here with my adult son. He has Asperger's and can't make repairs either.
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Old 04-03-2018, 06:29 PM
 
Location: California
4,445 posts, read 5,169,495 times
Reputation: 9180
Quote:
Originally Posted by phonelady61 View Post
No habitat for humanity does not help with repairs as previously stated and as I understand it they must have minor children to get habitat for humanity houses . I would call a real estate agent and see what they suggest that is your first step and if they say just sell it as is then at least you know where to start and then get moving on it . Good luck to you dear this must be frustrating to you .
Sales people are only interested in their commission so their "advice" will be only that which will benefit them.

OP, please contact Habitat or a social service agency in your area for specific advice as you do seem to have enough to do just taking care of your son. And bless you for that!
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