Condos with centralized heat/ac (Reston, Merrifield: apartments, rental, HOA fees)

[leighland]

Looking at lots of condos and many of them have centralized hvac and pay the electric bill. Why haven't these old buildings mandated their owners install heat pumps and individualized the heat/ac? I see some places that I would pay to install at heat pump and cordoned off my pipes but I get a big fat NO. This makes me completely nervous to invest in condo as I cant see how it will appreciate with a heating and ac that I cannot control

[kww]

the majority of buildings/communities I've seen this in would be a nightmare to retrofit each unit independently

[leighland]

Originally Posted by kww

the majority of buildings/communities I've seen this in would be a nightmare to retrofit each unit independently

But its gotta get done don't you think? In 10 years with new "luxury apartments" being built now next to trains and buses (see Merrifield) these 70's complexes wont even rent nevermind sell without proper AC in each unit. Aren't these old school buildings on a short road to being completely demolished due to market demand?

Anyway, In my case, the affordable condo complexes near to a good public transit (Cardinal Forest/Chestnut Grove for examples) have outdated and useless centralized heat/ac. Which soungs like a loser investment to me..

[austindoxie1972]

kww is right -- it is expensive and not always possible to retrofit those old buildings. Those condo units still sell, but they don't appreciate in value much. Look at Woodlake Towers in Falls Church and older condos in Reston. The HOA fees also keep unit appreciation down because those centralized HVAC systems require bigger condo fees to pay the bills.

When I bought my condo, I specifically looked for buildings that had individual HVAC units, and that quickly put me in the 1995 and newer range. Of course, new HVAC systems in my building cost $9,000 to $10,000 a unit. Why? The limited space on the roof requires a specific AC system, rental of a crane to get it up there, dry wall repair to get the old unit out. And that's just the AC! The heater is easier, thank goodness. That said, lots of people (particularly investors) don't want to mess with this and like older buildings with centralized HVACs.

[leighland]

Originally Posted by austindoxie1972

kww is right -- it is expensive and not always possible to retrofit those old buildings. Those condo units still sell, but they don't appreciate in value much. Look at Woodlake Towers in Falls Church and older condos in Reston. The HOA fees also keep unit appreciation down because those centralized HVAC systems require bigger condo fees to pay the bills.

When I bought my condo, I specifically looked for buildings that had individual HVAC units, and that quickly put me in the 1995 and newer range. Of course, new HVAC systems in my building cost $9,000 to $10,000 a unit. Why? The limited space on the roof requires a specific AC system, rental of a crane to get it up there, dry wall repair to get the old unit out. And that's just the AC! The heater is easier, thank goodness. That said, lots of people (particularly investors) don't want to mess with this and like older buildings with centralized HVACs.

My old Bryn Mawr apartment had the pump in the attic too...I wondered why they didn't put it on the ground floor and snaked up the ducts/etc...Thanks for the Woodlake suggestion but that school pyramid is way too stressed for us (55% esol 76% free reduced lunch breakfast)

[HokieFan]

Originally Posted by leighland

Anyway, In my case, the affordable condo complexes near to a good public transit (Cardinal Forest/Chestnut Grove for examples) have outdated and useless centralized heat/ac. Which soungs like a loser investment to me..

I think this is key here. If they were retrofitted with individual units, then they likely would no longer be affordable for many folks.

[smarterguy]

Those buildings will eventually get bought and torn down or stripped and renovated.
I don't mind the central AC/heat if I can control it. Usually quieter and saves space.

[austindoxie1972]

Originally Posted by smarterguy

Those buildings will eventually get bought and torn down or stripped and renovated.

Older apartments, owned by a company or REIT, are more easily torn down. Once you get individual owners involved (and a majority has to agree).....that's a totally different story. I wouldn't be investing in a condo/development with any such hopes (not that you were specifically saying that!).

[Fundman]

Centralized utilities makes sense in high rise condos. Can you imagine having 400 heat pumps lined up outside the building?

[Kophi]

Originally Posted by leighland

Looking at lots of condos and many of them have centralized hvac and pay the electric bill. Why haven't these old buildings mandated their owners install heat pumps and individualized the heat/ac? I see some places that I would pay to install at heat pump and cordoned off my pipes but I get a big fat NO. This makes me completely nervous to invest in condo as I cant see how it will appreciate with a heating and ac that I cannot control

I look at it this way: it makes for fewer appliances for which the
individual condo-owners have to be personally responsible.


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