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Fort Myers - Cape Coral area Lee County
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Old 01-26-2018, 07:22 AM
 
Location: Savannah GA/Lk Hopatcong NJ
13,399 posts, read 28,714,749 times
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Just curious, is condo sales a hot market right now or is the market saturated? I have a few saved on different realtor sites and they seem to be taking forever to sell
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Old 01-26-2018, 07:43 AM
 
Location: Colorado Springs
15,218 posts, read 10,299,568 times
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Perhaps it's the HOA fees? Or the condos are older and haven't been renovated. Or people are wanting a single family home? Who knows?


I considered buying a condo before I bought my late aunt's small SFH but when you add in the HOA fees it just wasn't worth it to me. I pay my lawn guy $75 a month and I never have to worry about HOA's with some of their busybodies and their silly rules and the best part is that I never have to hear upstairs neighbors like I did in the last condo I rented.
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Old 01-26-2018, 11:13 AM
 
Location: USA
1,599 posts, read 1,429,085 times
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Also, check out how the common areas are insured.

If a major storm damages the common areas you may be stuck with a Proportional share of the Deductible.

We looked at a small development on the NC coast 20 years ago and their deductible was $500,000. Not many owners to spread that around to and being on the water who knows what deductible is today.

Losses that invoke a deductible (fire/ flood/hurricane etc) are less frequent but if the day comes to pay off your portion, do you have the means to pay that bill?

If not, can they put lien on your place or sue you for paying your portion?
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