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WAN
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Would you ever buy an apartment unit? Why or why not?
#21721227 - 05/25/15 02:49 PM (8 years, 8 months ago) |
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Hello. By that I mean either a condo, or a one-bedroom unit in a high rise building. I like living in a high-rise (especially on the higher floors), because of the view. However, I have also heard of people paying exorbitan amounts of money when the building gets old and the management decides to renovate/update the smoke alarm system/paint the exterior..etc, basically a whole host of things that pertain to the upkeep of the building, which can be very costly, because it's a high rise and it has so many units.
Based on these, would you want to own an apartment/condo in a high rise building? Why or why not? Thanks.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Would you ever buy an apartment unit? Why or why not? [Re: WAN]
#21721383 - 05/25/15 03:28 PM (8 years, 8 months ago) |
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Having family members who have owned and lived in condominium units (and having lived in them as a renter myself), I would absolutely not want to live in one. While I can understand that some people may like the social aspects of multi-family housing, community property such as on site gym/pool/etc, and the view on upper floors can admittedly be nice, I would absolutely prefer to live in single family housing on a private lot. I value my privacy quite a bit, but beyond that, I know how difficult it can be to deal with a Home Owner's / Management Association, from a complex list of rules about what you can and can't do (and how you can be fined if you don't follow them to the T), to the unexpected assessments you must pay when the building requires maintenance or the board votes on any type of upgrade, to the noise or leaky fixtures from your neighbor's units that may affect your own living space. I'd much rather live in a building that I can call my own, decide to do with as I please and be solely responsible for.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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WAN
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Re: Would you ever buy an apartment unit? Why or why not? [Re: geokills]
#21721409 - 05/25/15 03:36 PM (8 years, 8 months ago) |
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I kind of like your idea of living in a single house where one would have complete control over. However, where I live (close to Vancouver, Canada), it is simply not possible for young people to own single, detached houses. Houses here range from 900K to multi-million dollars.
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ManianFH
living in perverty


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Re: Would you ever buy an apartment unit? Why or why not? [Re: WAN]
#21724214 - 05/26/15 09:48 AM (8 years, 8 months ago) |
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I prefer private residences. I don't feel like one should be told what to do with the place they are living in. Home owners associations and land taxes just don't make sense unless we were somehow forced into that position.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Would you ever buy an apartment unit? Why or why not? [Re: WAN]
#21725935 - 05/26/15 06:33 PM (8 years, 8 months ago) |
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Quote:
WAN said: Hello. By that I mean either a condo, or a one-bedroom unit in a high rise building. I like living in a high-rise (especially on the higher floors), because of the view. However, I have also heard of people paying exorbitan amounts of money when the building gets old and the management decides to renovate/update the smoke alarm system/paint the exterior..etc, basically a whole host of things that pertain to the upkeep of the building, which can be very costly, because it's a high rise and it has so many units.
Based on these, would you want to own an apartment/condo in a high rise building? Why or why not? Thanks.
You should do it. Make your mom proud.
-------------------- Anxiety is what you make it.
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WAN
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Re: Would you ever buy an apartment unit? Why or why not? [Re: LunarEclipse]
#21730338 - 05/27/15 09:05 PM (8 years, 8 months ago) |
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Quote:
LunarEclipse said:
Quote:
WAN said: Hello. By that I mean either a condo, or a one-bedroom unit in a high rise building. I like living in a high-rise (especially on the higher floors), because of the view. However, I have also heard of people paying exorbitan amounts of money when the building gets old and the management decides to renovate/update the smoke alarm system/paint the exterior..etc, basically a whole host of things that pertain to the upkeep of the building, which can be very costly, because it's a high rise and it has so many units.
Based on these, would you want to own an apartment/condo in a high rise building? Why or why not? Thanks.
You should do it. Make your mom proud.
I can't tell if you were mocking me or not.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Would you ever buy an apartment unit? Why or why not? [Re: WAN]
#21731259 - 05/28/15 05:30 AM (8 years, 8 months ago) |
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I couldn't come up with another reason to buy a condo, so I was being serious.
-------------------- Anxiety is what you make it.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Would you ever buy an apartment unit? Why or why not? [Re: LunarEclipse]
#21733490 - 05/28/15 05:30 PM (8 years, 7 months ago) |
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I would never buy a condo unless I just was looking for something to retire in that had all the amenities I wanted. If they had lots of things I had no interest in I would pass. For example, a pool if you don't like swimming, a tennis court if you don't play, etc. You have to pay for those things with the monthly dues so it better be something you want. I would also not expect the value to go up in most cases
I would not consider a condo as an investment, no way. I almost bought a condo unit, the price was very very low, a nice unit with furniture and they were throwing in the furniture free. It was tempting but then I found it was restricted to over some age so that would dry up the supply of tenants and the board had to check out and approve each tenant so that they met their standards, whatever they were. I said fuck that even though it was dirt cheap.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
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WAN
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Re: Would you ever buy an apartment unit? Why or why not? [Re: LunarEclipse]
#21739277 - 05/29/15 11:31 PM (8 years, 7 months ago) |
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Quote:
LunarEclipse said: I couldn't come up with another reason to buy a condo, so I was being serious.
Ah I see. Sorry for misunderstanding your post.
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WAN
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Re: Would you ever buy an apartment unit? Why or why not? [Re: Stonehenge]
#21739289 - 05/29/15 11:34 PM (8 years, 7 months ago) |
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Quote:
Stonehenge said: I would never buy a condo unless I just was looking for something to retire in that had all the amenities I wanted. If they had lots of things I had no interest in I would pass. For example, a pool if you don't like swimming, a tennis court if you don't play, etc. You have to pay for those things with the monthly dues so it better be something you want. I would also not expect the value to go up in most cases
I would not consider a condo as an investment, no way. I almost bought a condo unit, the price was very very low, a nice unit with furniture and they were throwing in the furniture free. It was tempting but then I found it was restricted to over some age so that would dry up the supply of tenants and the board had to check out and approve each tenant so that they met their standards, whatever they were. I said fuck that even though it was dirt cheap.
Sound advice there, Stone. Yes, a while ago me and my mother were surfing craigslist and we found a gem. But later it turned out that the building had a swimming pool, which neither of us was interested in. My mother told me that having a pool would drive up the strata fee significantly. So we passed that one up, even though it was in a location that we both really wanted.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Would you ever buy an apartment unit? Why or why not? [Re: WAN]
#21739975 - 05/30/15 07:14 AM (8 years, 7 months ago) |
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Seriously, do yourself a favor and don't buy a condo at the peak of this real estate cycle. Don't make me have to say "I told you so" in a couple of years! Your mother can wait, and so should you. Until 2020.
Of course I have 20:20 vision (corrected)!
-------------------- Anxiety is what you make it.
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