I think you guys have probably saved me from making a major mistake. I
will now rethink my housing plans. I never would have thought so many
problems could arise in what looked like an ideal housing choice for
someone who is getting on in years. Thanks to all at home repair.
Glad to be of help!
If the problem is maintaining your home you might ask your neighbors
and friends about a handyman type, for minor repairs, and hire someone
to cut grass etc.
Even those these cost bucks it will be far cheaper than selling your
home and buying a condo.
just consider the realtor fees and fees to sell a home. 6 or 7% of the
total equity in your home:(
If your short on cash and up in years investigate a reverse mortage,
which will draw down on the equity in your home while paying you enough
$ to cover costs.
If I were getting on in years, There are a few things that I would consider:
Ranch house (no steps)
Or a modern trailer on a small lot. (Fairly cheap, allow you to put
money you've put in your current house into something earning interest
to help you live with the reduced income)
Small yard (less maintenance, cheaper to hire out if you need to do so.)
Close to local stores. (walk or scooter to the store)
The trouble with some of those, is that it can often mean less safe
neighborhoods. Of course, the thing to do there is to work on a call
tree with your neighbors. Something bad happens, call the police and
then call your neighbors, who call the police and more neighbors...etc.
The police know that if something happens in that neighborhood,
they'll be getting a ton of calls... and eventually put the area on
regular patrol. A friend of mine helped organize this in their
"transitional" neighborhood and it really helped to clean it up.
Not sure if this amounts to harassing the police though.
May no harm befall you,
Ich habe keine Ahnung was das bedeutet, oder vielleicht doch?
Hey, don't rule them out completely- I'm not personally a big fan of condos,
but I can see where they make sense for people in certain situations, like
the snowbirds who are gone a third of the year, or folks like you that don't
feel up to doing outside upkeep any more. You just need to go into the
situation with your eyes open, do a lot of research, and take everything the
sales guy says with a big grain of salt. If you can find a community where
you already know some people, asking them for an honest account of their
ownership experiences is a good place to start. A few hundred bucks to a
lawyer to examine the tiny-print boilerplate contract before you sign
anything is a good idea, too. Ask about worst-case scenarios- can the condo
association spring huge suprise assessments, and are you locked into
arbitration by their designated service in the case of any disputes?
Might I suggest renting a condo for a year? Perhaps you can find a rental in
a community where the owner you rent from isn't quite ready to sell? If you
can rent, and get the owner to share the paperwork over a years time with
you, that would give a good taste of how well the place is run, how
competent the management company is, etc. IIRC, the IRS gives you a couple
of years to roll over the proceeds from selling your current house.
As to the physical aspects of a condo- most of the ones I have seen are
physically similar in quality to mid-level apartments. The upper-end condos
are about the same price as buying a fancy house, and just hiring a lawn
service and regular handyman to do the outside work. Only the upper-end ones
will have similar quiet and solitude to a private house.
Yet another idea- if you own your current house free and clear, and like it,
and if you have the income to afford it, have you priced out just hiring out
the work you don't feel able to do anymore? My father stopped doing yard
work around ten years ago when he started having vision and balance
problems, and found a guy to do the yardwork and simple outside upkeep.
Costs 80-100 per month, depending on how fast the grass grows. That is
comparable to the monthly hit in many condo communitys.
My sister just moved out of a nice condo to a different condo place. The
old neighbors were so loud she got sick of calling the police. She moved
to a better town, so the trashy types didn't have enough money to move to
the new town.
I'd have to be desperate before I ever moved to a condo. Couldn't stand
living so close to people like that.
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