Can I live in a condo? (1 Viewer)

[Robbie R]

You are right Mark.

I large part of my Condo fee goes into a "Reserve Fund". A larger reserve fund does help the resale value. I know when we bought our condo the first question my Real Estate Agent asked was how much money was is in the reserve fund???

I am just a little annoyed because my condo fee has doubled in the past 3 years. The management company says its because they are replacing all the windows and shingles in the next 2 years,,,,, but I thought that's what the RESERVE FUND was for!

 

[Mark Sherman]

OK speaking of Condo Fees, Mine are through the roof. But what gets me is that the guy who RUNS the Condo is now Driving a PORCHE after he said that condo fees were going up.

 

[Colton]

Mark,

Were you expecting the guy with the Porche to buy his own gas? He needs the money to fill up with premium octane.

- Colton

 

[Mark Sherman]

True 2 months ago he was drining a Honda CIvic. Now we Just had new windows Installed to the tune of $1500.00 then I see him driving a Porche. Can anyone say Kickback. Thank God Im Moving to my new place far away from the CONDO NAZI

 

[Scott L]

lol yea, I'd be pretty pissed if the condo owner said "Sorry, we have to raise the rate again" while walking back to his Porsche wearing an Armani suit. The condo fee for the one we looked at was $360/mo but I'm not sure what's included with that besides exterior maintenance, pool, etc... Seems crazy at first but split up between roommates it's not all that bad.

If that Condo Nazi were smart he'd continue driving up to your place in his Civic!

 

[Mark Sherman]

when I saw him yestedday in the Hall I walked by him and said under my breath " hey whats up you fucking Crook? I just Kept walking.

This is the same guy who tried to fine me for Having my Radio too loud and that it was didturbing him. Oh mind you he was in the hall way. He said that he should be able to walk down the hall and not hear anything. So I asked him. What If i was Vacuuming my Rugs would he have fined me then? He said I dont know what you mean. I said what if my girlfriend was Drying her hair in the Living room? or what if I was Making a Beverage with my Blender what if i was Holding my screaming baby next to the door would you have fined me then. He said No.


I said then why the FUCK are you fining me for my radio? EAT A DICK!!!!!.

Im not sure why he doesnt like me. Little fucker. I want to key that fuckers PORSCHE so bad.

 

[BrianB]

I wonder why too.

 

[Mark Sherman]

True. He does nothing but give out fines and does work to the building that ends up costing us more out of our own pockets. IE new carpets for the hall way that came out like shit, New roof that went over Budget and we had to pay for the mistakes. now the windows.


I know I know if I was living in a house I would have these kind of expensise but paying a fee then paying more just doesnt sit right.

 

[D. Scott MacDonald]

I do not live in a condo, but my house is smaller than 2500 sq feet and I share it with a wife and three kids and we don't feel crowded at all. Besides, if you have kids there's almost no such thing as personal space anyway.

 

[Chris Lockwood]

> No cable, water, trash pick up, or any other utilities are covered in my condo fees.

Either they do things differently up there, or you're getting ripped off. Usually even in a rented apartment, the water/sewage & trash fees are included with your monthly payment. Do you have a separate water meter to your unit? We have dumpsters just like an apartment complex, so the condo fee covers that, too. I don't know why it would be a separate bill since it's a fixed amount.


> I'd be pretty pissed if the condo owner said "Sorry, we have to raise the rate again"

Do you realize YOU are the condo owner? The board is elected by the owners (you & your neighbors). They have to account for every penny of those fees they spend, & you have a right to see that.

I'm not saying there are never any misspent funds, but the idea of a board member skimming off enough to buy a Porsche is a stretch.

 

[MarkHastings]

How big is your cat? 2500 sq. feet (for one person) is HUGE! and here I thought my 1234 sq. feet was gigantic for me???

 

[Robbie R]

Yes, I have a separate water meter hooked up to my unit. The garbage is picked up from the front of my house once a week by the city (Paid for by my property taxes that I pay for separately)

The ONLY services my condo fees cover are maintenance! Come to think of it I think they even call it maintenance fees. They cut the grass in the summer & shovel the snow from the streets and common areas in the winter (not my driveway or steps) If something needs painting, they paint it. Thats it.

So yes, I am starting to feel a little ripped off, and that is why I said I would prefer to add that $200.00 a month to a mortgage for a bigger house.

 

[Mark Sherman]

the guy in question does not live in my building he is the one who has the manegment Co. who oversees the workings of the building. we also have pres. VPs etc etc etc.

 

[Jimi C]

You guys are babies, i live in a 950sq ft house with 3 other people. One bathroom, 3 bedrooms, an eat in kitchen, a livingroom and a dining room that is too small to fit a table in (used as a computer room). 2500sq ft would feel like a mansion to me.

 

[MarcoBiscotti]

oops my mistake, haha! I meant to type 1250 sq. ft. (it's actually 1500 w/ the balcony), I don't know how that turned into 2500... I must've hit the 0 key a little too hard, I guess I wasn't paying attention to what I was typing. :b

I still say that 1600 sq. ft. in condo would seem rather small and cramped for 3 kids and a wife. Just the fact that you are in a building makes the living space feel all that more condensed. That's just my 2 cents though.

 

[Philip_G]

165 won't buy you much of a townhouse around some parts.
I'd avoid it. I have a TH that I keep as a rental, with all the new construction around here the value is dropping like a rock.

 

[Jay H]

I just bough an expanded ranch in NJ with just over 1000sf (not including the 1 bathroom, closet, or huge deck or full basement) for myself. It's just large enough for me to be very comfortable and not huge to be overbearing. I have 2 bedrooms upstairs in a converted loft for future expansion though.

Jay

 

[MarkHastings]

Yeah, the one nice thing about living alone in my condo is, the 2nd bedroom has become my Computer/Music room. If I had to actually use it as another bedroom, I'd have no space for my "Fun" stuff.

 

[mike_frontier]

WOw! great replies all. It does seem like a town home is not for me.

Dont get me wrong, my home now is over 2200 sq ft. Love it, but not truely Texas.



Your not lieing. Property taxes here in AUSTIN is rape!! nnot just that, but school tax then 8.25% sales tax and to top it off, our governor Rick Perry jacked up the rates for concer purposes and to find out he was stuff his pockets! or at least I heard.

I pay about 4K a year just on the taxes on my home. Which in Colorado in the same sq feet, which i cannot afford, but they pay like 1900.00 a year.. about 50% different. Yep I am aware we dont pay state tax, but if I get it taken out,, i know that the end of the year I will get allot of it back at least .
I used to live in Colo Spgs and moved back in 96 to Austin, TX,, I am ready to go back. Electricity high in Summer months, I pay over 200.oo an month and gas in winter will be high again. At least lving in denver summer is not hot as here and back at our old parents home in colo spgs it did not have ac, nor did it need it .

Oh well...... flying out in 2 weeks to probably lease a apt and then off w/ my search.

 

[Colin Dunn]

Denver is about twice as expensive as Austin for the same house. Homes that go for $150K-$170K here go for more like $280K and up there.

You can qualify to borrow more money there than in Texas because property taxes are lower (about 1% of the home'e value per year rather than 3%), but you won't be able to afford a decent place there unless you're offered about $90K per year or better. That's the salary you would need to comfortably qualify for a $280K home.

The overall salary levels in Denver are not double the prevailing rates in Austin. In terms of how much house you get for your hard work, you WILL lose out if you move from the Austin area to the Denver area.

Out in the suburbs you may be able to get about a 1,500 sq. ft. house for $230K. Traffic doesn't move at quite as slow a pace as in Austin unless you're in a construction zone, but you may have to drive a longer distance to get to your workplace. Commute times end up being about the same.

The high housing costs there were a major reason I left Denver and moved to Austin. The only more expensive areas I know of are on the coasts (NYC, L.A., San Francisco, Seattle, etc.) or Hawaii. About five years ago, Denver's average house price was only 10% lower than that of Hawaii.

I can understand high prices for homes in Hawaii, with a year-round perfect climate. But Denver is subject to snow nine months out of the year (only June-August are guaranteed snow-free). And not every home there has stunning mountain views.

If Philip_G is correct that the value of his condo is dropping, I would suggest renting there (rents aren't as out-of-line as sale prices for houses and condos). Maybe the housing bubble is bursting there. But I won't even think of moving back until home prices in the Denver area are "only" 10-20% greater than those in Dallas, Houston, or Austin.