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Old 09-05-2017, 11:15 PM
 
Location: Planet Woof
3,139 posts, read 3,509,293 times
Reputation: 9889

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I just renewed my apartment lease for the 6th year. Before here I rented a farmhouse way out for 7 years. There was mowing, weeding, trimming from April to October out there over several acres. If the septic backed up we had to call a service. If the air conditioner went out, same. Plow the drive during the winter. Rake leaves during the fall. Lots of work all the time.
Now I call the office and they come and fix the problem. I step outside my door to a small dog park, a beautiful pool, and a well equipped work out room.
I can walk to the grocery, library, mall, and just about anything else or drive there is less than 10 minutes. I walk my dogs on leashes 24/7 and feel safe here. There are multiple parks and walking trails within minutes. I don't have to hear the eerie sounds of coyotes outside my door in the pitch dark.
I have grown to love the convenience and ease of this lifestyle here. We have privacy and green spaces, but don't feel isolated. I feel safe and much less anxious knowing if we need help it is right here.
Any food I think of is available from restaurants or markets, 5 minutes away. I can be in the country in 10 minutes or downtown to the zoo or museums in same.
I think of a little house and a few acres of land, but wonder if I want to give up my current contentment and feelings of security. Probably not. I don't miss the yard work and I can container garden here if I miss working with flowers and veggies. So far I haven't. Guess I have grown to love my simpler lifestyle and free time to use outside of household and yard chores.
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Old 09-06-2017, 09:48 AM
 
7,801 posts, read 4,391,333 times
Reputation: 11594
Quote:
Originally Posted by FeelinLow View Post
I just renewed my apartment lease for the 6th year. Before here I rented a farmhouse way out for 7 years. There was mowing, weeding, trimming from April to October out there over several acres. If the septic backed up we had to call a service. If the air conditioner went out, same. Plow the drive during the winter. Rake leaves during the fall. Lots of work all the time.
Now I call the office and they come and fix the problem. I step outside my door to a small dog park, a beautiful pool, and a well equipped work out room.
I can walk to the grocery, library, mall, and just about anything else or drive there is less than 10 minutes. I walk my dogs on leashes 24/7 and feel safe here. There are multiple parks and walking trails within minutes. I don't have to hear the eerie sounds of coyotes outside my door in the pitch dark.
I have grown to love the convenience and ease of this lifestyle here. We have privacy and green spaces, but don't feel isolated. I feel safe and much less anxious knowing if we need help it is right here.
Any food I think of is available from restaurants or markets, 5 minutes away. I can be in the country in 10 minutes or downtown to the zoo or museums in same.
I think of a little house and a few acres of land, but wonder if I want to give up my current contentment and feelings of security. Probably not. I don't miss the yard work and I can container garden here if I miss working with flowers and veggies. So far I haven't. Guess I have grown to love my simpler lifestyle and free time to use outside of household and yard chores.
That does sound ideal. My hang-ups with renting, beyond the "pride of ownership" and "keeping my own capital" points, are: I like to treat my properties like a blank canvas and have fun with restoring, remodeling, redecorating and I want to retain the option of making money (renting it out if I choose). Of course those same advantages you mention are to be had in an owner-occupied condo, as well.
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Old 09-06-2017, 10:37 AM
 
Location: Omaha, Nebraska
7,316 posts, read 4,162,308 times
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Quote:
Originally Posted by otterhere View Post
My hang-ups with renting, beyond the "pride of ownership" and "keeping my own capital" points, are: I like to treat my properties like a blank canvas and have fun with restoring, remodeling, redecorating and I want to retain the option of making money (renting it out if I choose). Of course those same advantages you mention are to be had in an owner-occupied condo, as well.
Yes, but with one caveat: many condo associations have strict limitations on renting out units. So don't buy a condo thinking it's a guarantee that you can rent it out in the future; always check the association regulations first!

(There are days when I think remodeling units is the main hobby in my building. No one just buys a unit and moves right in! We always have various contractors coming and going.)
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Old 09-06-2017, 10:39 AM
 
7,801 posts, read 4,391,333 times
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"Yes, but with one caveat: many condo associations have strict limitations on renting out units. So don't buy a condo thinking it's a guarantee that you can rent it out in the future; always check the association regulations first!"


Yes; I'm aware of this.
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Old 09-07-2017, 08:29 AM
 
109 posts, read 48,882 times
Reputation: 176
Default Reply

I am not retired yet, but decided to chime in with a response. I purchased a condo with the intention of it eventually being my retirement home. There are people with positive condo experiences, but there are also condo experiences that are negative. When considering a condo, always investigate the community of your potential purchase and be aware of the limitations of condo ownership.

Condos run the risk of more issues during resale value. To take VA and FHA loans, they have to be on VA and FHA approval lists as a community. Without the approval, you can't take that loan from a buyer. I know people who have owned condos and their boards/neighbors had no interest in pursuing approval thus affecting resale value of the units.

Sometimes, companies approving a conventional loan will not finalize processing if they don't like the communities savings account, how things operate, or feel exterior upkeep is poor.

Some of the pluses of confo ownership is not having to personally arrange yard work or exterior repairs. However, there can be a drawback. You pay for these things, but often have no say in how things are carried out.

When considering a condo, try to look at the books and how long other units have been in the market. If things don't look encouraging, move on no matter how good a deal the purchase is.

I lived in a condo for years and it was a terrible purchase experience. It was poorly run and there was s clique of three to four people making all the decisions with one dictator making most of them.
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Old 09-08-2017, 02:50 PM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
Reputation: 32304
Quote:
Originally Posted by ClassicGal View Post
........... There are people with positive condo experiences, but there are also condo experiences that are negative. When considering a condo, always investigate the community of your potential purchase and be aware of the limitations of condo ownership.
..............................................


I lived in a condo for years and it was a terrible purchase experience. It was poorly run and there was s clique of three to four people making all the decisions with one dictator making most of them.

Yes, that can be the case! I was instrumental in unseating a dictator where I live, and as the president of the board of directors (for the past three years since the homeowner revolt) where I live, my main goal has been to make the HOA more open, more transparent, and friendlier.


California law contains a lot of protections for homeowners, but the homeowners have to be somewhat engaged and aware to take advantage of those protections. If they just sit back and let "Joe" do it, bad things sometimes happen.
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Old 09-08-2017, 02:55 PM
 
Location: Southern California
23,780 posts, read 8,268,851 times
Reputation: 15495
I've been living in my apt for 25 yrs long before retirement. I love calling the mgmt company when there's a problem.

I owned once, a condo, and got out after 5 yrs. Became an albatross.

Just talking to a gf the other day who is 66 I think and thru a divorce got a small house from ex, she is forever crazed with things to do to the house...now it's a leak in the bathroom.
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Old 09-08-2017, 03:25 PM
 
Location: Eastern Washington
14,242 posts, read 44,919,845 times
Reputation: 12828
Quote:
Originally Posted by Escort Rider View Post
Yes, that can be the case! I was instrumental in unseating a dictator where I live, and as the president of the board of directors (for the past three years since the homeowner revolt) where I live, my main goal has been to make the HOA more open, more transparent, and friendlier.


California law contains a lot of protections for homeowners, but the homeowners have to be somewhat engaged and aware to take advantage of those protections. If they just sit back and let "Joe" do it, bad things sometimes happen.
I did not realize that you were a revolutionary leader, amongst your other accomplishments!

Yeah, if you let "Comrade Joe" have his way with things, to say the least, bad things can happen.

But to be serious, this is why I steer well clear of any sort of HOA. The leadership of such just seems to draw busybodies like trash draws flies. Guys like me are actually not that interested in telling other people what to do or not do, and by living out in a rural area, I really can afford to not care what my neighbors do. So long as they don't set off explosives between say midnight and 6:00 AM, I just don't care, it's not any of my business.
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Old 09-08-2017, 05:01 PM
 
8,201 posts, read 11,915,499 times
Reputation: 17994
Quote:
Originally Posted by m3 mitch View Post
guys like me are actually not that interested in taking any responsibility for the overall well-being of the condominium association, we'd rather just bltch and moan when the people who have chosen to participate on the board make decisions we don't like, and by living out in a rural area, i really can afford to not care what my neighbors do. So long as they don't set off explosives between say midnight and 6:00 am, i just don't care, it's not any of my business.
fyp
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Old 09-11-2017, 02:38 PM
 
Location: Eastern Washington
14,242 posts, read 44,919,845 times
Reputation: 12828
Quote:
Originally Posted by MadManofBethesda View Post
fyp
Uh, no, I would never live where I had to put up with HOA. Case closed, problem solved.
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