Any condo owners here?

**nsb22** · 10-15-08, 01:23 PM

In my hunt for somewhere to live, I started looking at some condos. Mostly cause I can't afford any of the houses in the town I'm thinking of moving to.

So, what are the pros and cons of living in a condo?

**Buttercup** · 10-15-08, 03:33 PM

I own a condo and I like the fact that I don't have to worry about mowing the lawn, shoveling snow, maintaining the deck, things like that. A drawback is that you have to abide by the condo association rules which include any changes to the exterior of your home, you can't paint it any color you want, doors have to be a certain type, etc.

**Ducky** · 10-15-08, 03:56 PM

A lot of condos have thin walls which can make for interesting situations with the neighbors.

**Buttercup** · 10-15-08, 04:08 PM

Originally Posted by Ducky

A lot of condos have thin walls which can make for interesting situations with the neighbors.

That can be true. Mine is a townhouse, and every once in a great while if the guys next door are drinking and a little rambunctious I can faintly hear them singing.

I've never heard anything from the neighbor on the other side, though, and I've never heard any of THOSE sounds from either side.

**2 Blue 4 U** · 10-15-08, 04:52 PM

It a buyers market and you may see more and more homeowners, including condo and coops, looking to unload their homes because of their depressed financial situations. Take in to consideration the Condo fees, some are reasonable and include property taxes, others can be sky high and include country club fees. Of course amenities vary, some just offer basic services others much more, the over head to run the condos is more expensive at those places too.

When we were shopping around for a house we looked into buying a condo, it was less expensive then the homes in the area. But after figuring out the monthly cost for the condo fees, we figured we could afford a higher mortgage and just went for a house. This is 12 years ago, the condos we were considering went from $130 thous to $160, monthly maintenance was anywhere from $200 to $300. Mortgage payment plus the maintenance fee came to the same payment as buying a house for $180.

There are plenty of great condos around just make sure you really know what you are getting into, know all the rules, regulations and most of all the restrictions. It is important to know how the condo people are and what all the condo fees are and what they include.

Good luck!

**nsb22** · 10-15-08, 06:05 PM

The average condo fee for the area I'm looking at is 840 a year. Condos are ranging from 75k to 140k depending on age and what not.

A really good friend, who is excited that I'm thinking about moving there, sent me some condos that are for sale via email. She's also supposed to be hooking me up with her realtor as he doesn't charge any fees or anything. With nothing down and 30 years at 6% the cheaper condos are the same price as smaller two bed room apartments.

**2 Blue 4 U** · 10-15-08, 06:12 PM

Originally Posted by nsb22

With nothing down and 30 years at 6% the cheaper condos are the same price as smaller two bed room apartments.

And don't forget the tax write offs!

**pgg** · 10-15-08, 07:51 PM

Originally Posted by Buttercup

That can be true. Mine is a townhouse, and every once in a great while if the guys next door are drinking and a little rambunctious I can faintly hear them singing.

I've never heard anything from the neighbor on the other side, though, and I've never heard any of THOSE sounds from either side.

If you haven't heard any of THOSE sounds they must be coming from your unit

**Buttercup** · 10-15-08, 07:54 PM

Originally Posted by nsb22

The average condo fee for the area I'm looking at is 840 a year. Condos are ranging from 75k to 140k depending on age and what not.

A really good friend, who is excited that I'm thinking about moving there, sent me some condos that are for sale via email. She's also supposed to be hooking me up with her realtor as he doesn't charge any fees or anything. With nothing down and 30 years at 6% the cheaper condos are the same price as smaller two bed room apartments.

Wow, that's a lot less than what I'm paying.

One of the reasons I decided to buy when I moved out here is because it was cheaper than renting, plus I had a relocation incentive which meant no money out of pocket for the down payment, etc. Also as 2 Blu said, the tax write off is nice.