Condo Fees-How Much Please??? (Tulsa: for sale, foreclosure, rent)

[AshleyMc]

Own a condo in southeast Tulsa. Dues keep rising. We are paying almost $300 a month now. Just seems a little steep for a condo in Tulsa! Have a 3 bed unit approximately 1250 sf. So if anyone could give me ideas of what you're paying in HOA dues monthly, any info appreciated and I won't ask for your address or get specific!

[flyingcat2k]

Originally Posted by AshleyMc

Own a condo in southeast Tulsa. Dues keep rising. We are paying almost $300 a month now. Just seems a little steep for a condo in Tulsa! Have a 3 bed unit approximately 1250 sf. So if anyone could give me ideas of what you're paying in HOA dues monthly, any info appreciated and I won't ask for your address or get specific!

I used to own in Central Park Condos in Downtown. My HOA was 404/mo but covered basic cable, power, H/AC, parking, water, trash, ect. That was for a 1 bedroom (700 sf) but when I was single, that was enough.

To be fair, please include what you get for your HOA. My HOA dues, obviously, paid for a lot more than what normal HOA dues so it isn't apples to apples.

[AshleyMc]

Dues cover basic cable, water, outside maintenance. Dues have risen by $80 in 4 years. Dues are almost as much as my payment now...thanks for info.

[Farmer'swife]

Originally Posted by flyingcat2k

I used to own in Central Park Condos in Downtown. My HOA was 404/mo but covered basic cable, power, H/AC, parking, water, trash, ect. That was for a 1 bedroom (700 sf) but when I was single, that was enough.

To be fair, please include what you get for your HOA. My HOA dues, obviously, paid for a lot more than what normal HOA dues so it isn't apples to apples.

Can you please tell me exactly what is covered in the HOA fees for Central Park Condos in Tulsa? My son is interested in buying a unit and I am trying to find out as much info as I can. I'm wanting to know if these HOA fees cover insurance and/or taxes. I would also appreciate it if you could add your 2 cents about the complex itself. Did you like living there? Was your place easy to sell? Would you recommend buying a unit? Thank you very much for any info you can offer!

[SandyJet]

My condo maint is 500 bucks a month and the bulk is a ten year loan for a major renovation that we have four years left on. The next bill is insurance, then legal and management agent fees, then water and electricity common areas and landscaping.

That adds up to around 400 a month per unit and we charge 500 a month as we are trying to build reserves so we dont ever have to take a loan again.

The amentities are sometimes peanuts in the maint payment if you dig deep.

Also a 500 maint bill where we are paying off a loan and building reserves is ok. A 500 maint bill when costs are 600 and you are falling deeper into a hole is bad.

You may ask how we got here. Prior association kept maint at 250 a month for years when it cost 300 a mont to run place and deffered maint and ran down reserves and boom we are at $500

Look behind the numbers not just at the current maint

[flyingcat2k]

Did the units ever get to control the AC/heat on their own? When I lived there, the buildings were on a centralized heating and air where all the units had to all be on heat or all on air conditioning. It is a centralized system and there wasn't an easy way to move away from it.

I will say that the prices at Central Park are depressed as banks will not lend money to purchase the units. I purchased my unit using savings and a small owner financing mortgage. It worked out And the owner was comfortable with financing as I paid 80% up front. I enjoyed living there as it was generally quiet, close to my work downtown and a quick walk to the BOK. The only downside is that it is on the opposite side of downtown from the Blue Dome and the ballpark. Still, ONEOK Field is only a 15 minute walk away so it's not bad.

[SandyJet]

Originally Posted by flyingcat2k

Did the units ever get to control the AC/heat on their own? When I lived there, the buildings were on a centralized heating and air where all the units had to all be on heat or all on air conditioning. It is a centralized system and there wasn't an easy way to move away from it.

I will say that the prices at Central Park are depressed as banks will not lend money to purchase the units. I purchased my unit using savings and a small owner financing mortgage. It worked out And the owner was comfortable with financing as I paid 80% up front. I enjoyed living there as it was generally quiet, close to my work downtown and a quick walk to the BOK. The only downside is that it is on the opposite side of downtown from the Blue Dome and the ballpark. Still, ONEOK Field is only a 15 minute walk away so it's not bad.

how much do they sell for today and what are property taxes?

[flyingcat2k]

Typically, 1 bedroom units are in the 50k to 60k range and 2 bedroom units are 80k to 120k depending on view and upgrades. The property taxes are pretty small ~700 to ~1000 depending on size and exemption. If CP's HOA is the same or gone up $100/month to allow for the HVAC upgrades and repairs and reserve funds, that's not excessive.

For a single person, a 1 bedroom can be nice IF the interior wall between the kitchen and the living room is taken down so the kitchen can be expanded a bit. This was done in my unit and I never felt the kitchen was cramped like it was in older units where the kitchen was never renovated. To do a kitchen upgrade like that, it's probably 5 to 7k if you redo all the cabinets, countertops, ect. You may not get all the money out but it is much nicer and the unit will sell a lot easier.

[SandyJet]

Originally Posted by flyingcat2k

Typically, 1 bedroom units are in the 50k to 60k range and 2 bedroom units are 80k to 120k depending on view and upgrades. The property taxes are pretty small ~700 to ~1000 depending on size and exemption. If CP's HOA is the same or gone up $100/month to allow for the HVAC upgrades and repairs and reserve funds, that's not excessive.

For a single person, a 1 bedroom can be nice IF the interior wall between the kitchen and the living room is taken down so the kitchen can be expanded a bit. This was done in my unit and I never felt the kitchen was cramped like it was in older units where the kitchen was never renovated. To do a kitchen upgrade like that, it's probably 5 to 7k if you redo all the cabinets, countertops, ect. You may not get all the money out but it is much nicer and the unit will sell a lot easier.

Pretty amazing. In the surburbs of NY such as Nassau County etc a one bedroom condo in a good neighborhood costs around 300K and maint is around 500 a month plus around 7.5k property taxes.

I always watch home improvement shows and in places like Texas they are always showing empty homes for sale. In NY you never see an empty home for sale unless it is a bank foreclosure. Why cause even a little one bedroom condo with a mortgage is costing you 2k a month so you live in it till you sell or rent it.

This explains a lot. I watch that show where they buy homes in Waco Texas and always suprised they are always empty.

The two bedroom condos up the block from my home have 700 a month tax plus 612 a month maint. So even if you had no mortgage they are running at 1,312 a month.