Any condo dwellers around?

[Rex_Goodheart]

I'm 53 and thinking seriously about moving into a condominium.

Upside? Downside? Regrets? Would you do it all over again? How are the neighbors?

[AlCzervik]

1. i lived in a condo for almost 10 years, we had a corner unit so we only had

neighbors on one side, it was a pretty quiet building so no noise complaints from us. The downside was the monthly fee and our unit only came with one parking space so we had to rent one from another homeowner. No lawn to mow, no maintenance either, overall i'd gladly do it again.

[grace0418]

2. We've owned our condo for 7.5 years now.

Everything has its upsides and downsides of course but here are mine:

Upsides:
It allows us to own property and live in a neighborhood we enjoy (where we could never afford a house).
We have a management company that handles mowing, shoveling, cleaning the hallways, etc.
If the roof needs repair or the water heater busts, the cost is spread out amongst all the tenants instead of being our sole responsibility.
If you have a good condo board (we do), advance planning keeps big surprises like special assessments at bay.
Less to clean and maintain.

Downsides:
Less room than a house.
Less privacy.
Often no yard or garage.
Upstairs neighbors. 'Nuf said. Even the really nice ones can drive you crazy sometimes.
Lots of things you can do without a second thought if you own a home must be decided on by the board (i.e. paint your front door, change the windows, remodel, etc.)


I don't regret our decision at all, to answer your question. We love our condo and we LOVE our neighborhood. We never could've afforded living here any other way. But we're ready to move on, even if it means moving to a less desirable 'hood. We want a yard, and more space, and no upstairs neighbors.

One thing to watch out for, regarding neighbors, is how many renters there are in the building. Many condo associations limit the number of units that can be rented at one time to 20% or less. This is a good thing. I was a renter for many years, so I'm not trying to dis renters, but renters generally don't care as much about the building and their neighbors as owners do. This is perfectly understandable, of course, because there really is something to that whole "pride of ownership" idea. Just something to keep in mind when you are looking.

[philosophie_en_rose]

3. Yes. Overall wonderful, but choose your condo wisely.

The upside is that I live among wonderful people. It is a far better value than renting, and I couldn't really afford a house in this neighborhood. I also have a wonderful, casual (but efficient) condo board and a diligent management company. No complaints there.

My advice to you would be to try to attend a board meeting or drive around the neighborhood a little. Try to get as much information to help you decide whether it is the right place for you. Ask to see safety reports and ask about any pest or safety problems. In many respects, it is just like living in an apartment complex --> except it's much more difficult to pick up and leave.

It can be a great opportunity, but make sure you choose the right unit in the right place with the right management.

[Jimbo S]

4. Checking in

We bought ours four years ago.

A decent house would have cost us $75K more.
We like the sense of community.
Any minor repairs get fixed in a timely fashion.
All lawn care and snow removal is done for us.
This is not for everyone: standard set of rules, so some crazy neighbor doesn't start doing batshit stuff.

Better than renting. As of now I can think of no downside.

[graywarrior]

5. If you don't mind condo fees and "rules."

[Rex_Goodheart]

6. Thanks, everybody...

This particular condo will be as much as a house, I'm afraid... but it's a duplex with lots of spaces between the buildings... I'll have an end unit sharing only one wall...

I think I'm going to like it. I'm looking forward to a sense of community.

[sleepyhead]

7. Try to get yourself on the board, if you have time.

That gives you a bit more say in how things get done.

[Generic Brad]

8. Heck, yes

Downside are the associations decisions to make special assessments. But since I'm a tightwad it is nice to have someone force me to pay for maintenance I would otherwise put off.

I have no external work to do, which is a blessing. As soon as the days get longer and the weather warms up, my wife and I will be able to pursue our catch and release fishing hobby with full vigor. We get off work, jump in the car, and make our way for the nearest lake. If we had yard work to do, we would never be able to do that as much as we do now.

[Blue-Jay]

9. maybe when I'm too old to mow grass, shovel snow, & listen to loud music.

That could be around the corner, though.

I like condos OK, but I also like having a yard. AND I dislike HOAs.