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Anyone ever live in a condo? Thoughts?

Rummie

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The realtor should be able to get that info from the association. It's referred to as a reserve study. If you are taking out a mortgage they will most likely require that as part of the application process. In Florida, condo associations are required to do a reserve study something like every three years.
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MomsSpaghetti

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Thanks a lot. I will talk to my realtor
 

Cleankat

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It's a coin toss. I had a vacation condo and loved it, neighbors were great. Then they moved out and the new neighbors were terrors. Messy, loud. At this point in my life not sure I could live in one. My parents are retired and live in a 55+ community and they love it, never once had an issue, but that's also due to the fact all the neighbors are elderly.
 

Slapping_Rabbits

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What is with these places not including the recreational fees?! I can't imagine buying on a golf course and it not including the golf fees!! This for some reason really gets my goat. I'm not sure why. Maybe its the preposterousness of it all?
 
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MomsSpaghetti

MomsSpaghetti

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I hear ya. A golf and ski membership would be a no brainer for me. I was surprised to learn that the condos don’t have anything to do with the resort. They are on the resort property but have no affiliation at all
 

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Southbayglad

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I am tossing around purchasing a condo as my residence. Not to rent out as a source of income. It is on a golf and ski resort (golf and skiing not included in the monthly fees). The one I am considering is a middle unit of a 4 unit building so it would be sharing both walls with "neighbors". I don't know if they would be filled with loud and drunken skiers or golfers on the weekends or not.

Pros:
  • No lawn care,
  • no snow removal
  • no exterior maintenance to worry about
  • cable tv and WiFi included
  • trash pickup
  • Use of resort gym/pools
Cons
  • possibly drunk neighbors on weekends
  • resale value?
  • Monthly dues could go up
  • $300 month fees
  • Other?
Anyone?
I live in a 3 bed 3 bath condo in Redondo Beach. For the area it is quite large and was in our price range. I recently sold my business (custom carpentery), thus losing my work shop, and garage. I would say the major con is having no workspace, no backyard, etc, to work in. I literally think about it on a daily basis. We have become best friends with all of our neighbors which seems to be a very rare situation in todays day and age. We meet up outside almost nightly for a drink, have similar interests, children, have dinners weekly, etc. It luckily became an amazing situation. But I could see how it could also be a nightmare if you did not like your neighbors. My one neighbor attached to us has teenage boys that our very loud and shake our walls often. But we know them well, and can tell them to shut up without offending lol. I was willing to give up a house to be 4 blocks from the ocean. Its all give and take I guess. But I sure do miss my work space. ALOT
 
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MomsSpaghetti

MomsSpaghetti

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I live in a 3 bed 3 bath condo in Redondo Beach. For the area it is quite large and was in our price range. I recently sold my business (custom carpentery), thus losing my work shop, and garage. I would say the major con is having no workspace, no backyard, etc, to work in. I literally think about it on a daily basis. We have become best friends with all of our neighbors which seems to be a very rare situation in todays day and age. We meet up outside almost nightly for a drink, have similar interests, children, have dinners weekly, etc. It luckily became an amazing situation. But I could see how it could also be a nightmare if you did not like your neighbors. My one neighbor attached to us has teenage boys that our very loud and shake our walls often. But we know them well, and can tell them to shut up without offending lol. I was willing to give up a house to be 4 blocks from the ocean. Its all give and take I guess. But I sure do miss my work space. ALOT
Thank you. Yeah, I can see it is a give and take. I just need to decide which is better. I still have time until my house sells
 

TheSolarWizard

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I’m in my second condo currently. I accumulated a ton of equity in the first one via property value increase and I’m up almost $200k in this one.

that being said I’m over the condo life and I recently bought a Large acreage to build a house on.

pros: no maintenance outside
Cons: paying monthly so my nosy neighbors can tell me what to do
 

saintpauljeff

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Lived in a condo for 14 yrs, finally into a single family home. My biggest gripe? Unable to work on vehicles in the garage because it was “against the rules”
 

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I realize this thread is a couple of months old, but the number one question should be: why are so many units up for sale in a 20 year old building? The answers will be eye opening.
 
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MomsSpaghetti

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Yeah, I checked the finances. They are good. I said F it and made an offer. I move in next Saturday. It may be a gamble, who knows. Time will tell.
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