Official Cleveland relocation thread (Lakewood, Euclid: HOA, headhunter, job market)

[VexedAndSolitary]

I haven't read the thread, so forgive me if this has been answered already.

I found a bunch of condos in BENTON VILLAGE in EUCLID for sale, very cheap like 20K and under.
Is that a "safe" area? I'm an older lady who will be living alone. I was told by the realtor that those condos do not allow renters so I am assuming they'll stay kind of nice?

Also found condos in MAPLE HEIGHTS and N OLMSTEAD but I want to be as close to the downtown as I can get.
Are those two sections pretty close to the city center? Easy to get around by bus?
I hope to use my car as little as I can get away with.

yes I looked on the map but that can be hard to extrapolate to how it actually would be, distance wise.

Thanks in advance

EDIT:
what about this tiny house's neighborhood? Is it Ok?
http://www.realtor.com/realestateand...5_M39269-20012

[Shields777]

I'm moving to Cleveland from Youngstown for my first job since graduating college. I'll be working in the 44109 area code. I'm a young lady looking to live alone. Is there anywhere safe within about a 30 minute rush hour commute that I could find for ~$600 rent wise. I'm okay with apartments, not looking to buy. I saw some places in Bedford and Old Brooklyn but the areas looked on the sketchier side. Parma and Parma Hts might be an option too but the places there are a little higher than I'm hoping for, even the studios. Any advice you guys can give me?

[WRnative]

Originally Posted by OverItAll

I found a bunch of condos in BENTON VILLAGE in EUCLID for sale, very cheap like 20K and under.
Is that a "safe" area? I'm an older lady who will be living alone. I was told by the realtor that those condos do not allow renters so I am assuming they'll stay kind of nice?

Thanks in advance

For any community, don't hesitate to call the local police department and to ask about a neighborhood. Certainly ask local residents and perhaps talk to the president of any condo association.

Somebody told me that the singles at the nearby Bonneville Tower condos also were very cheap, but likely not as cheap as Benton Village. They might be safer as they are in a high rise and don't have outdoor access to the units. In the winter, you wouldn't have to worry about snow/icy conditions outside your unit.

[VexedAndSolitary]

I looked up Bonneville, very nice! But the HOA is $450/mo.

I'm trying to find out about the area this TINY house is in:
http://www.realtor.com/realestateand...5_M39269-20012
but no replies yet.

I started a thread asking about that section also PM'd someone on a Cleveland thread randomly so I hope I'll get some info I can use.

[WRnative]

Originally Posted by OverItAll

I looked up Bonneville, very nice! But the HOA is $450/mo.

I'm trying to find out about the area this TINY house is in:
http://www.realtor.com/realestateand...5_M39269-20012
but no replies yet.

I started a thread asking about that section also PM'd someone on a Cleveland thread randomly so I hope I'll get some info I can use.

Is that Bonneville fee the monthly fee on a single? High-rise unit fees vary by sizes of units and their locations, often based on relative appraised values at the time of construction or conversion, if former apartment buildings. E.g., a low level single Bonneville unit with no view of Lake Erie might have the lowest monthly condo fee. Something to check out.

I'm told that the Bonneville monthly fee includes all heat, A/C, water and sewer, as the Bonneville is a converted apartment building with central heat and A/C and no water meters for units. What are the costs of those utilities at other condos you are considering? Do other condos have furnaces, air conditioners, hot water heaters, etc., for which you are personally responsible? If so, how old are they in units you are considering? Capital assessments are part of monthly condo fees. They are higher at high-rises due to central HVAC and elevators, but signifcant per unit assessments might be saved on roof replacements compared to garden type condos, given the much smaller roof surface area/unit, and owners of garden type condos typically pay for their own HVAC equipment. High-rises also have higher operating expenses to pay for staff to clear hallways, etc., but this staff also offers a lot of benefits and support to residents in most cases.

The Bonneville also has an outdoor heated pool, which is great if you would use it, because every unit owner pays for it. Not good if you would never use it.

I'm also told that a big issue at the Bonneville, one that depresses prices of units, is that it takes a long time to get covered parking. I'm also told that a great thing about the Bonneville are the mailboxes, as large as large post office boxes. Many condos today don't have mail delivery to individual units, but outdoor mailboxes which often are somewhat small. Something to consider, especially if you get lots of mail and would be wary about walking outside every day to get mail.

One advantage with high-rise condos is that usually the only worry when leaving for a month or more at a time is locking the door.

With any condo, you have to consider the reserves. Are they sufficient to cover anticipated capital expenditures in coming years? Do the condos have audited (very preferable, and make certain you know the difference between audited and "compiled") financial reports and capital budgets? I believe the latter is required by Ohio law.

Homeowners typically underestimate the costs of maintaining a single family home, and paying for landscaping, snow removal, etc. In Ohio, homeowners pay over $20/month for natural gas service even if they use no or little natural gas in a given month. Well-run condos force unit owners to pay on a monthly basis for all needed maintenance costs, building up sufficient funds to pay for all replacement and extraordinary maintenance costs as needed.

Condos are much more complicated than many prospective owners ever understand until it's too late, but so is owning an individual home. Are you competent to deal with individual contractors? Condos pay professional and typically very experienced property managers to handle these chores.

Definitely try to find a home inspector who is very familiar with condo laws and even local condo properties that you are considering. Reviewing condo financial statements, declarations, and by-laws is an important concern with condos, things that are not a worry when buying a house.

[VexedAndSolitary]

Oh, many thanks, that was good info I hadn't thought about the central HVAC aspect; that would be a factor if heat/cooling is included!
I'm going to investigate further; if that's included and the fee is lower for a unit that faces, say, the parking lot, that might be feasible.

I hadn't thought a house there would be realistic for my price so when I saw the one abovementioned I thought it worth investigating also. I wouldn't want a house unless VERY SMALL which it is.

I hope someone chimes in re: that neighborhood, it is called PURITAS LONGMEAD.

EDIT: You are right, I just saw a 1/1 at BONNEVILLE with HOA Fee of $339.

[WRnative]

Originally Posted by OverItAll

Oh, many thanks, that was good info I hadn't thought about the central HVAC aspect; that would be a factor if heat/cooling is included!
I'm going to investigate further; if that's included and the fee is lower for a unit that faces, say, the parking lot, that might be feasible.

I hadn't thought a house there would be realistic for my price so when I saw the one abovementioned I thought it worth investigating also. I wouldn't want a house unless VERY SMALL which it is.

I hope someone chimes in re: that neighborhood, it is called PURITAS LONGMEAD.

Not only heating and cooling, but also water and sewer, which can be significant monthly expenses for homeowners.

[VexedAndSolitary]

Hm, that's right. I keep overlooking that condo fees include that stuff not just maintenance of the building.
I have like 12 condos saved to my list and this ONE tiny house.
If the section it's in is OK I'll then try to compare costs to maintain it vs condo fees (have no idea as the smallest house I ever owned was 1100sf and the largest 2800sf) as it is 441sf so like the size of a freaking shed really .

The taxes on it are under $500 per annum is that nuts or what?
So if that tiny house is in OK condition and the area is also safe (enough for me; I don't need fancy) it'd be a far cheaper option.

Probably something really wrong with either it or the section though

[WRnative]

Originally Posted by OverItAll

Hm, that's right. I keep overlooking that condo fees include that stuff not just maintenance of the building.
I have like 12 condos saved to my list and this ONE tiny house.
If the section it's in is OK I'll then try to compare costs to maintain it vs condo fees (have no idea as the smallest house I ever owned was 1100sf and the largest 2800sf) as it is 441sf so like the size of a freaking shed really .

The taxes on it are under $500 per annum is that nuts or what?
So if that tiny house is in OK condition and the area is also safe (enough for me; I don't need fancy) it'd be a far cheaper option.

Probably something really wrong with either it or the section though

Not all condo fees cover water and sewer. Some condos have separate meters and pay the same water and sewer bills as individual homes.

441 sq. ft. is hard to believe. The singles at the Bonneville are large, maybe even 800 sq. ft. or more, and it's lakefront property. Whatever you buy, I would focus on price/square foot, if you're interested in retaining value and perhaps experiencing some appreciation.

I wonder how far that small house is from the West 150th/Puritas Red Line rail rapid station. That would provide access to much of Cleveland.

As more and more baby boomers retire, the Bonneville may be good summer residences for those wintering in the south. Unfortunately, my understanding is that rentals aren't allowed; otherwise, they might make good investments. I have no idea whether the Bonneville units will fall in price or increase, but I suspect they are selling for a fraction of replacement cost, especially if land value is considered. That's a very expensive piece of real estate. I wonder how much each unit's proportionate share of the land is worth.

A problem though is that much of Euclid is changing because much of the housing stock are well-built, but small, post-WWII bungalows, with tiny rooms, etc., that likely are outmoded by today's standards. North of Lakeshore has large mansions in some cases, but also some large apartment buildings, such as what was once known as the Watergate. I don't know what it's called now.

[VexedAndSolitary]

I am appreciating your detailed replies, thanks!

I'm not thinking of investment, I won't be selling and moving again. I'm leaving all my assets to a dog rescue so they can sell it for whatever they can get after I drop dead.
Not that I wouldn't love to buy a place that'll make them a nice chunk but at my price range (30K max) how realistic is that.

I've been looking for months and in several states. I ended up focusing on CLEVELAND due to realizing I'll need to be near public trans as I won't always be able to drive as I age.
I'm a native of BKLYN NY and love a city life with no car, just didn't think I could afford it until I started looking into CLEVELAND.


So appreciation of the investment isn't in the equation; what matters is: is it safe for an old bag living alone, is it cheap and is it close to public trans.