Retirement Houses - The Money Pits (areas, spend, love, difference)
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And correct me if I'm wrong (may also be regional) but you may "own" the structure but you don't own the land it's built on.
In FL, where my folks had a place I sold after they passed, it was explained to me that unit ownership begins at the level of paint and carpeting. That the walls ceilings floors etc., in essence all aspects of the structure, belonged to the Condo Ass'n.
In FL, where my folks had a place I sold after they passed, it was explained to me that unit ownership begins at the level of paint and carpeting. That the walls ceilings floors etc., in essence all aspects of the structure, belonged to the Condo Ass'n.
hth
Actually, that makes sense. You certainly can't take the structure with you.
That would not give me a sense of ownership, permanence or belonging but I recognize that many feel otherwise.
In FL, where my folks had a place I sold after they passed, it was explained to me that unit ownership begins at the level of paint and carpeting. That the walls ceilings floors etc., in essence all aspects of the structure, belonged to the Condo Ass'n.
hth
The Florida legislature tends to change the law in this area every 5 or 10 years or so. So it pays to look up the current law when you have an issue that involves this statute (like whether your insurance company or the condo's insurance policy covers a particular loss). Robyn
The Florida legislature tends to change the law in this area every 5 or 10 years or so.
So it pays to look up the current law...
No doubt; and that wisdom is good to remember as it applies to many things.
This deal will count as my first and last direct experience with Condo's or HOA's. tyvm.
They just aren't for me.
No doubt; and that wisdom is good to remember as it applies to many things.
This deal will count as my first and last direct experience with Condo's or HOA's. tyvm.
They just aren't for me.
HOA's, Condo Associations, etc. are not for all but many quite enjoy living like that, myself included. I have tired it all from a private home on acres of land to a small two bedroom condo.
I presently own (live in) a small, stand alone, patio home, HOA controlled, and so far, it is the best living style of them all.
Not to split hairs and some might be legal hairs, but to me:
A condo indicates a unit in multi level builiding similiar to an apartment building.
A townhouse/duplex means to me no unit in front, behind, above, nor below you but could have unit(s) beside you sharing a common wall.
Anything not meeting the above criteria are stand alone homes no matter the size meaning no one ajoining you, no matter how close and in some cases only a few feet.
Not an issue and a best a clarification on my understanding. I have lived in all 3 types.
My understanding is 'coop' and 'condo' are financial/legal arrangements only carrying no implication with them of the physical type of dwelling.
I relate to this. Owning your place, with no or few trees, little lawn, very short driveway, all one floor, tight in terms of energy, easy siding (nothing to stain), etc...makes really good sense. In all climates.
This sounds heavenly. If only we could sell the large 2 story home with basement we now own and move to a one-story place.
But there's still so much work to be done to get it sale ready...
If only I knew where I wanted to rent after owning a house (money pit), I could make a plan. The problem is, I don't.
Only one way to find out. Hit the road!
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