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I have been in a condo for 26 years. I like it because I really dislike spending my limited free time maintaining the lawn (I positivly hate lawn mowing), taking care of the roof and painting the thing. The downside is the condo asociation can be a PIA about keping stuff in the carport and there isn't that much room.
I have lived in a condo, townhome and a single family...
The condo was great b/c it was one floor (ground level too) so carrying groceries and such was easy and I liked not having to climb stairs. (I am only 31 but still liked not having stairs) I also liked that we didn't have to spend time mowing or taking care of the exterior.
What I didn't like is A) ours was small...but that is what we chose b) that when the neighbors above us had a washing machine line break and flooded us, we had to use our insurance and have a deductible for something that wasn't our fault...price of living with someone above you I guess. And I didn't like all of the HOA rules and regs. Every home I have had has had HOA but seems like the condo was more strict.
I've lived in 2 different Condos. One as a renter and one as an owner. I love to work in my yard and garden and you are very limited as to what you can do in condos. My ex-husband wanted a condo because he hated to mow and didn't want to do snow removal.
As an owner, I really didn't much like all of the meetings and the rules...
If you buy a condo just keep in mind that Condo Fees always go up - not down.
I am going to be honest. I lived in a condo for four years, we just moved into a house a few weeks ago. We used to have good neighbors until they moved about 3 years ago so for the past 3 years our condo living experience was terrible! Our "new" neighbors would bang on our walls whenever they would hear our 3 year old at the time running around. How do you control a 3 year old form running and why should I? I was 7 months pregnant at the time with my second and then it got to the point that they would bang on my wall when my second was 18 months old. It was a constant thing and the final straw I had a big blow out with our neighbors. How can you stop a child from being a child? They would have these god for saken parties til all hours of the morning yelling laughing getting drunk and they would on occasion wake up my children. I never complained until the end because I know that when you share dwellings you expect noise. I say if you can't take the sound of children roaming the house-do not buy a condo. Our condos weren't built that well, very thin walls so unless you are willing to sound proof your unit, check to make sure they are built very well with insulation and all. The association was no help. One president told me to press harrassment charges against her and the other told me to keep my kids at bay. Yeah tell that to two toddlers dummy! I will never go back to condo living, EVER!
Oh and we still own it, we rented it out to another couple that gets drunk along with them and goes skinny dipping at 3am in the complex pool with them. Guess that lease will not be renewed because now that same baby hating crazy neighbor now hangs out in my condo!
My brother owns a condo down in Miami. The HOA was very specific on how many people can live in a 1/1 or 2/2 condo. Only two kids under the age of 16 were allowed. The family next door had 3 kids under the age of 6 (no carpet) and it was a TOTAL nightmare. Hundreds of letters were sent to the HOA and nothing was ever done. The were renting from the mother of the daughter with the three kids so not even owners. I told my brother to get an attorney as he had banded with the other 5 units that were being affected. He didn't have the balls to. I scrapped it out with the parents numerous times after being woken up at 6am due to running kids. Other neighbors did as well. I'm talking this lady never took her kids to a park which was two blocks away. They did all the playing in the condo.
BEWARE-Condo living can be total hell if you get the wrong neighbors and being an owner, you can just break the lease and leave..
I had a great deal of difficulty with the shared ownership of a condo. Not only can you be restricted on changes but the association can make decisions that cost you money weather you agree or not.
The main advantage to condominium ownership is that it provides a relatively low-maintenance lifestyle, coupled with the advantages of amenities that few can afford on their own (swimming pools, state-of-the-art gyms, etc).
The disadvantages include condo fees that are rolled into your debt-to-income-ratio by mortgage lenders and can affect your buying power. And some condo associations can be difficult and intrusive.
Major negative is the homeowners dues that typically go up every year or so. Many people state that they hate yardwork and would rather have a condo but you can hire someone to do yardwork at your house for much cheaper than homeowners dues!
If I ever do buy a condo I would try to find one where the homeowners manage the project (not a management company) and where there is no swimming pool/clubhouse, etc. (major maintenance costs).
[quote=Charlotteborn;4921192]Major negative is the homeowners dues that typically go up every year or so. Many people state that they hate yardwork and would rather have a condo but you can hire someone to do yardwork at your house for much cheaper than homeowners dues!
[quote]
That may be true, however, when you are a home owner with a yard, you have a personal interest and investment in the quality of the work that is done. We had a service cut our lawn this summer and they practically destroyed ALL of the trees that were planted. Mowing services (where I live, anyway), are only interested in doing the most amout of work in the least amount of time and they are not careful nor conscientious about what they are doing. We even had one mower knock out a piece of our foundation when he hit it with his machine.
20yrsinBranson
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Condo Living - Plus & Minus
