Yet Another New Yorker Needs WPB Help (West Palm Beach, Palm Beach: for sale, townhouses)

[skylinet]

DRoyal,
As I mentioned in a previous post, you are going to find pretty high HOA's in all these buildings. They are for the most part great buildings, but you will have to figure 4-700 in to your monthly mortgage. If that is financially feasible for you then you will really enjoy Downtown West Palm. It's a diverse area with a lot to do.
I personally lived in West Palm and ended up moving to Boynton Beach due to a little more affordability for housing. It is a nice area for young professionals with a lot to do.

[DRoyalFC]

How much are HOA fees at various buildings downtown?

[skylinet]

On the low end they are going to be 400, the majority of them are on the high end 700+. Most buildings have concierge/security, pool, gym, insurance, elevator maintenance, common area maintenance. On top of that many buildings have high vacancy.
It's too bad there are some very nice buildings...
If it is your first or second home a townhome might be a better if you like the laid back-low maintenance lifestyle. You will find the HOA's are more towards the 100-250 range. More square footage too, and usually you have your own garage.

[TriMT7]

Originally Posted by skylinet

On the low end they are going to be 400, the majority of them are on the high end 700+. Most buildings have concierge/security, pool, gym, insurance, elevator maintenance, common area maintenance. On top of that many buildings have high vacancy.
It's too bad there are some very nice buildings...
If it is your first or second home a townhome might be a better if you like the laid back-low maintenance lifestyle. You will find the HOA's are more towards the 100-250 range. More square footage too, and usually you have your own garage.

Isn't it usually per square foot? If I recall, the Metropolitan was something like .48/square foot.

[skylinet]

I know some use that to figure them out. Even at .48 a square foot your looking at 528 for an 1100 square foot unit.
Like I was saying there are some very nice buildings and I enjoyed living there, but unless you get a roommate or two 400+ HOA's are tough to cover on most budgets...

[TriMT7]

I guess I can see value in a $500 condo HOA, but one has to look at the big picture and not get too freaked out. No lawn service to worry about (I pay about 100/month), no pool service ($70/month), significantly less HOI cost (?!$), sometimes basic cable ($50) and water ($70/month) is included in the price depending on the building. It can work out in the end, but it DOES seem like a hard pill to swallow.

But yeah, my boss has a Cityplace townhouse, and his HOA is much, much less!

[skylinet]

Yeah, to some there definitely is value...
But there's also stuff like the concierge/security. Who did absolutely nothing when my car got broken into in the Edge (they caught that guy breaking into cars at cityplace by the way)
Elevator maintenance is figured into HOA's as well. Paying for the snobby management, I'm sure not all management is snobby, but these people were so rude.
For the most part you get everything you mentioned in a townhome for the half the cost in hoa's. $100 a month on a mortgage is roughly 15-20,000 more in home value.
On the flipside you won't get much of a view in a townhome, and some of the ammenities you'll get in a condo complex.
Just things that a buyer should consider before purchasing.
Getting financed on a building downtown could be tougher without a large down payment as well.
Cityplace townhouses are nice, still pretty pricey, but the location is great. Theres a good deal over in the convention center townhouses right now. Short sale, but its huge, and you can walk to everything.

[tropical]

Originally Posted by skylinet

Cityplace townhouses are nice, still pretty pricey, but the location is great. Theres a good deal over in the convention center townhouses right now. Short sale, but its huge, and you can walk to everything.

Do you know what those townhouses are going for?

[MoItaly]

"looking for safe, but then again, I'm a New Yorker, so you know - "safe"....

Wouldn't be so sure. NYC is safer than WPB on average. Then of course it depends on the neighborhoods.

[skylinet]

Originally Posted by tropical

Do you know what those townhouses are going for?

low to mid 2's only one of them though in this complex.