Driver...I agree about strongly checking owning vs. renting...I have friends from Ontario who own condo homes/villas in Florida who are really worried about the high vacancy rate in their complex. No "for sale" signs are permitted and they are get getting assessed because those owners who have bailed are not paying their condo fees any longer.
As a Canadian citizen, don't you have to pay much higher property taxes than a Florida owner/resident?
I would hate to see my neighbour who lives so close to me in Burlington get in a mess of worry...there is also the issue of estate tax as a Canadian who owns property in Florida...in case you ever get in the way of a stray golf ball!
The temptation is great, I admit, as prices are so low. I really feel for those who have been caught in the real estate price spiral.
Does anyone want to guess why??? Free dues to Edmunds for 2 years if you get it correct!
Here is the official reason why fire trucks changed from red to yellow or lime green, and then back to red. All your answers were good, especially the one about being green/yellow until it matured.
Several years ago some research was done to determine what colors are most visible to the human eye. The idea was to paint firetrucks this color to avoid accidents. The results revealed that a lime green or yellow was the most visible. Many departments began using these colors in the interest of safety. These colors are more visible at night as red turns black in low light conditions. After a few years it was determined that departments whose apparatus had changed colors from red to one of the "safer" colors were actually more likely to be involved in an accident as motorists were less likely to identify them as fire trucks, often mistaking them for the power company, or construction vehicles. As to being more visible as night, emergency lighting keeps this from being a factor.
Regarding Condo's ,you need to be aware of the maintenance fee deliquency rate.
Thanks for your thoughts...and I have lots of concerns too. I will say, there are only 72 units and the people who live in this development like it. Right now there is only one unit being sold through a realtor and 2 units are for sale privately.
When we calculate it we think you would have to be there for about 4 or 5 months to make it cost effective, over renting. We would only stay for about 2 months.
There is something about owning your own place and having all your things there when you get there. On the other hand, renting has lots of benefits too.
It is a difficult decision,. and your input along with others nycguy and dougb10 help with coming to a decision.
I offered 10% below what she was asking, but I wanted the furniture which was all new and beautiful. She said she thought it was lower than she expected (doesn't everyone say that), but she would get back with a counter price.
I just got out of the bed after four days with the flu. Man it was a rough one. I think that the worst is over. Decided to be my own doctor this time---those antibiotics never seem to work. I used hot chicken soup, plenty of juices, took some Advil for the fever, and tried to just sleep as much as I could. On day five, I feel nearly human again.
Driver, don't go near those condos. Flood and hurricane insurance can cost a fortune. Also, people are defaulting on the HOA fees which are passed on to current owners. Even if you go to Florida twice a year for a month each time, it's not worth it. Ownership limits you to one place. There are nice places like Sarasota, Jacksonville, West Palm, Port St. Lucie, Juniper, Vero Beach, Key West etc. that you may like to visit. Remember: All that glitters is not gold. By the time that you pay insurance, taxes, fees, maintenance, etc., your money is better spent on staying where you like and then going home worry free. Though we are only three hours from North and South Carolina beaches, we decided years ago not to buy at the beach. When we go, we stay at different beaches at different times of the year. We feel that we get more variety, and don't have to worry with keeping up a beach house. On top of that, we also enjoy trips to the mountains. I rather rent and let the other guy deal with the headaches. Keeping up one house is more than enough for me.
. I recently sold a condo in NY (suburbs) and lost about $80,000.
People do have to consider certain things when prices go down. Your condo may have gone down $80000 but the place you want to buy may have gone down $120,000.
Things are relative. The townhouse villa we are considering (a long way from a done deal) was built in 1992. There are 72 units in the community and the people stay in them, not too many for sale at any one time. You are also buying a way of life. You are not just going to spend a month or two in isolation. You are meeting people with similar interests who will become your Florida neighbors and friends.
I am not sold on it completely too, just presenting the other side.
The units we stayed in other years are in a real messy state. There were about 400 townhouses and condo apartments and only about 15% ever sold. They have dropped in value from $500,000 to $99,000 in one case, and most are $179k to $199k. There weren't enough buyers to register it, so buying there is like buying in no man's land.
The temptation is great, I admit, as prices are so low. I really feel for those who have been caught in the real estate price spiral.
I do too! It is a shame when people buy a house and then watch the value go down to half. So many people walk away because they can rent for a fraction of the cost.
My Burlington Ont friend, we are going to get 6 to 8 inches of snow tonight. How can that compare to mid 70s and sunshine for one week, watching dolphins, eating seafood at all the good restaurants in the St Petersburg area, walking around in short sleeves and shorts in February?
I do agree though, there is something to be said for peace of mind, and buying your vacation as it comes up.
I learned my lesson a long time ago. Bought a little sailboat, thinking that would be fun and relaxing. It is hard work. Had to take a course, then buy a trailor, license, and insurance and worst of all figure out where to store the thing. I said after that, in most cases, it is better just to rent something like that if you are only going to use it a few times a year. Also, it wasn't too easy to sell in the end either.
I just got out of the bed after four days with the flu.
Nice to have you back with us.....did you get a flu shot? This years flu is a really bad one.
I value your comments and I agree with all the points you have made. The advantages to owning, with all the additional costs and worry do not make sense looking at it logically.
The advantages of owning are that you will probably enjoy your vacation home more...it is the way you want it.
You will see the same people each year and so you will meet other people. One week or two isn't too bad but vacations are usually better if there are people around to do things with.
You would probably stay longer because it is already paid for anyway.
It is difficult to find nice dog friendly places. It really limits you when you have a dog.
Generally, I agree, it doesn't make sense from a practical standpoint. It is almost all emotional. Buying in this case is not to make a profit in real estate. I am not good enough to predict the future about these things. I believe you buy a house because you want to live in it. But, I do think the risks are very large, and I am not sure if the upside is worth the risk.
Thanks for your thoughts and for taking the time to write (when you aren't feeling 100%), and hope you are feeling better.
If you have stayed there and like it, that makes a big difference. Is the wife sold on the idea? That price is so tempting I can see your dilemma, and yes, buying a home is very personal and emotional. Just make sure you know all the costs involved, etc.
Would it be possible to rent it out, if you wish, to help defray costs? Or maybe you have relatives who could use it on occasion? Just do your homework and if it works, go for it.
Your condo may have gone down $80000 but the place you want to buy may have gone down $120,000.
My experience with condos - admittedly limited to the suburbs of NYC - is that they trail the market when prices are climbing but lead the market when prices fall. In other words, the downside risk is greater than the upside potential.
IMO, this is because a significant percentage of prospective buyers simply won't look at or even consider a condo, no matter how nice it is. So when the time comes to sell your condo, your pool of potential buyers is smaller & you have to drop your asking price accordingly just to generate interest in your property.
I happen to enjoy condo living because I'm a slug when it comes to household chores, but I've learned that a single-family house holds its value better than a condo does.
"Or maybe you have relatives who could use it on occasion."
LOL! Don't worry. They will! Just don't expect them to offer to pay.
"Would it be possible to rent it out..."
Then you have to pay a management company to rent it and keep it clean, plus the additional wear and tear on a unit that is nearly 20 years old. Just doesn't sound like a good plan to me.
"So many people walk away because they can rent for a fraction of the cost."
That's what the bankers should have told those people a few years ago who couldn't really afford those larger homes---go rent, and return when you have some money and a good paying job. Greed, greed.
"Bought a little sailboat, thinking that would be fun and relaxing."
Keep that picture in your mind for the next thirty days. This fever,too, shall pass. I hate to be so negative to your idea. You deserve to be happy. I just don't think that a 20 year old condo in Florida at this particular time will make you that happy later. You can have a lot of happy trips for the cost of this condo. Still, it's your money and your life style. Just give it a month and see how you feel. Winter will soon be over. Your feelings could change.
would it be possible to rent it out, if you wish, to help defray costs? Or maybe you have relatives who could use it on occasion?
One couple we talked to have been renting there for 3 years. One came up this year and they liked renting so much they decided to buy. So that is a point definitely in favor of buying.
I don't really like relatives coming and staying when we are there...kind of like privacy on vacations.
Renting out defrays costs, but can really ruin the place for a few extra bucks. And you have to have a way of putting your personal stuff away.
My wife wasn't for staying in Florida for more than 2 or 3 weeks at a time. But, after this year she likes the idea of staying for 2 months, and she would be much more inclined to go if we actually owned the unit.
is that they trail the market when prices are climbing but lead the market when prices fall.
I like condos when they work right, which doesn't happen that often. I still think people who are trading up, and think they could have got more for their home say a year ago, often forget the home they are buying is also going to cost less.
If people don't get much joy out of looking after their own home a condo is a good solution. My prediction is condo prices will go up, more baby boomers coming into the market, more retired people who don't want to look after a home, more people who just don't need semi-detached homes.
I even think Florida will start to boom a bit in a few years for these reasons. More baby boomers retiring and the cold is harder to take, the older you get. But, I wouldn't buy for that reason.
"Or maybe you have relatives who could use it on occasion." LOL! Don't worry. They will! Just don't expect them to offer to pay.
The fellow that takes us to the airport told us about people he just took to the airport. He had both sets of children with spouses and grandchildren visit for a week. He was exhausted....and broke, had to pick them up and take them to the airport, take them out for meals, babysit grandchildren while the group was there. He finally got a week to himself and his wife.
I even think Florida will start to boom a bit in a few years for these reasons.
I wouldn't hold my breath waiting for this to happen. It'll take more than just a few years to work through the excess housing in Florida.
As a rule, the real estate market is driven by job availability. An abundance of good-paying jobs in a particular area pretty much equates to a strong real estate market in that location.
Florida's problem is that in the boom years, too many of the good jobs were tied to home construction. One business writer observed that the Florida economy was largely built around getting people to move to Florida.
What model XPS did you get? The 7100? My dad needs a new desktop for his office, and this sounds like it might hit the sweet spot.
I've read mixed reviews about the AMD Phenom II processors that have 6 cores, but the Intel i7 Quad Cores are more expensive for what seems like relatively comparable performance. We aren't talking a computer that is going to be used for gaming or even movies - just typical work tasks.
2025 Jetta GLI Autobahn, 2024 Jeep Grand Cherokee 4xE
I offered 10% below what she was asking, but I wanted the furniture which was all new and beautiful. She said she thought it was lower than she expected (doesn't everyone say that), but she would get back with a counter price.
Let me tell you her counter offer/s:
(1) She will accept your 10% lower offer but she keeps the funriture...or
(2) Pay full boat and get the furniture.
I don't like those 'pig in a poke' condo fees...they never go down. So, FWIW, I'm with the others and vote not buy.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Like I said, I learned about condos the HARD way. My wife and I (we were engaged at the time) moved from the Upper West Side to a 2 bedroom, 1.5 bath in Hartsdale (Westchester County). We closed in late January 2004 & in addition to the monthly mortgage there was a $425 common charge. By the time I got the 1st common charge bill, it had gone up to $550 per month. The assesments started from 6 months after I moved in for a new parking structure that was estimated to cost $150,000 (they budgeted $175,000 & ended up costing $400,000, then they had to have an assesment to keep the capital reserve, then another assesment to redo the lobby, then they started to collect for redoing the exterior facade of the building, that went over budget, so then the board voted to take out a "line of credit" that will keep the assesment going for at least the next 10 years. I was paying close to $1000 a month between the common charge and the assesment for most of my close to 7 years of ownership. They decided that since they already were collecting the assesment, that they should "save up" to redo the elevators, lobby (again), and hallways.
Besides the $1000s of dollars I spent on common charges and assesments, it took me close to 2 years to sell, and after paying brokers fees I ended up losing $80,000 just to get rid of it.
Cost our forum a couple of "STORIES FROM THE SALES FRONTLINES" as well.
We have friends from NJ who are expecting their 1st child any day now. They came up to CT to visit & have dinner with us a few weeks ago. The topic of real estate came up & they said they are trying to deide to rent for another 2 years, then buy a starter home or buy a condo. I told them to rent if they must, but a House is a far superior way to go than a condo.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
Fortunately, we owned our condo (in central Suffolk County, LI) long enough to sell at a profit. Still, having compared our buy/sell prices to those of friends who bought & then sold single-family houses at the same times & in the same general area, I estimate that we would have netted at least an additional 50% if we hadn't gone the condo route.
I've seen some luxury condos on the North Shore that I've liked, but I wouldn't buy one unless I knew that it would be the last home I'd ever buy. Then my heirs could worry about selling the place.
I didn't place the order yet, but yes it is a 7100. Now of course you have me worried! I was putting my faith in Dell. Thanks, dude!
they do have a good deal on these from what I can tell though, for what you get for not much more than a gussied up lower level model.
the other unit that seems to be a good deal is the HP 6720f (my other, cheaper choice). 4 core AMD, but just integrated graphics. Probably still overkill for anything I will ever do with it, but I like to be prepared!
I think the dell also has better components/construction (more usb ports, better power supply, stuff like that.).
That's the reply we got.....she said it was too hard to give up her beautiful home and the furniture is all brand new. I was surprised she didn't come down a little bit.
The condo fees (the villas are actually built in quads, but they look like individual homes) are $350 month, and that covers grounds, roof, exterior walls and exterior insurance, termite control, swimming pool, club house etc.
I don't think that is too high if you consider what you pay for looking after lawns and exterior, a pool, insurance, roof, paint etc...that would be a minimum of $2000 a year for a house.
But, as nyc pointed out, extra assessments can really add up and if a unit goes vacant then those fees have to be covered, probably by other owners. And, of course getting along with the board of directors who aren't always capable.
Well, now that you have ruined my dream home fantasy (actually I appreciate the comments, I think it is great to know about the pitfalls), I have to try to persuade my wife that it will be better to rent.
the other unit that seems to be a good deal is the HP 6720f (my other, cheaper choice). 4 core AMD, but just integrated graphics.
If the HP has an open PCIe x16 slot - it probably does - you can easily add a dedicated graphics card later on. Just make sure that the power supply unit can handle the extra load. (If not, it's no big deal to replace the PSU with something beefier.)
A good way to acquire a powerful computer on the cheap is to buy a refurbished desktop for $300-400 & then spend another $150 or so to upgrade the components.
I'm doing research and I think the 7100 is probably the best bang for your buck right now. To even get a comparable quad-core Intel i7 processor (which is their upper level quad core) its a couple hundred more, at least. To get their i7 six core processor, it is out of the question to stay under $1000.
I have a real mental block about spending over $1000 for a Windows based PC for, I'd say, 97% of applications. You can't get that many Mac PC's under $1000, so that is my exception to computer buying, but I love them for their operating system and their overall durability.
2025 Jetta GLI Autobahn, 2024 Jeep Grand Cherokee 4xE
Well, now that you have ruined my dream home fantasy (actually I appreciate the comments, I think it is great to know about the pitfalls),...
I’m glad that you can see that I wasn’t trying to “ruin” anything. If you bought and it didn’t turn out as you “figured”, you’d be the one that got ruined by Mrsdriver.
Maybe this is a little selfish of me but we can’t afford to lose dues paying members here. We’re already down a little as it is and I’m trying to avoid a bump in dues because of lost membership. This is almost like that condo thingy.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
After 5 days of the flu at my age, I look like HELL. I'm getting ready to shower, shave off a week's growth, and go get a hair cut. Perhaps that will help some. Man, it was a killer week. Both cars need washing really bad, the yard work has piled up, and I need to pay the bills. I'm so far behind it will take forever to catch up. On top of that, the moving van arrives Thursday with all of that stuff from the cousin's house. Still, it's great to be feeling better. As they say, one day at a time.
Both cars need washing really bad, the yard work has piled up, and I need to pay the bills.
In our house the car and yard stuff is on me but the checkbook stuff is done by ‘you know who’.
I’ve told the tale before about me screwing up the ckeckbook so bad, about 3 months after we were married, that I had my checkbook privileges yanked forever. There is an advantage to having that happen.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
'In our house the car and yard stuff is on me but the checkbook stuff is done by ‘you know who’.
I’ve told the tale before about me screwing up the ckeckbook so bad, about 3 months after we were married, that I had my checkbook privileges yanked forever. There is an advantage to having that happen'
There can be a bad side to that also. I wrote a big check last week for a vehicle and took it to the bank to get it blessed. Only thing was per their procedure they wanted to see my signuture on a check (any check from our account), but because I very seldom sign any they couldn't find one anywhere. Bit of a hassle that to 15 minutes or so to get straight (they didn't hassle me, just needed to follow the procedure)
If you bought and it didn’t turn out as you “figured”, you’d be the one that got ruined by Mrsdriver.
Well, I presented the negatives to Mrs. Driver but she is still interested in the villa home. I can understand her point too and it does make sense.
*If we are going to spend 2 or 3 or even 4 months in Florida during the winter it is nice to have a place the way you want it. *It is very difficult to find a rental unit that is what you are looking for, and that will accept dogs. *Units don't come up too often and there has only been one foreclosure in the past few years...out of 72 units. *If you are spending a month in a place you have to be in a community with people who are doing similar things. At the villa there is a common pool area and club house for get togethers. When you rent you aren't buying into a lifestyle, you are buying accomodations. You are isolated as people come and go.
Nothing is decided yet for sure, and we are still a long way off on price and closing dates etc.
We are meeting with our financial guy later this week and he has a winter condo townhouse in Arizona, so that should be informative.
I like that idea of the Edmunds guys from the north all buying a share. 12 people, at $10000 each and we can draw straws to see who stays in what months!
Think of how many BMWs..." Best advice yet! That is the one argument that will work on Driver.
That's funny. I don't really need any more BMWs though....actually that Fusion I rented in Florida was pretty good............though, uh, not quite the same.
If we get the condo then I probably won't be getting a new BMW this year, so I won't have a car sales story for you,....I'll have to find "Condo Stories from the Sales Frontlines".
...but because I very seldom sign any they couldn't find one anywhere.
I could have that problem too but I take Mrs.j with me when I buy a car and she writes the check. As she's writing the check I usually hear, “this is probably why you wanted me to come along, huh”?
Damn, she’s got me figured out.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
It's been perfect weather here in the greater Ft. Lauderdale area for awhile...we haven't used the a/c since November until last night, when it got up to 80 in the house. Sunny with mild breezes & no changes expected all week.
Paradise right now, but that's why we moved here in the 1st place.
The Sandman :sick: :shades:
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
What area is it in? We're in Coral Springs & Boca Raton is the next town north of us.
It is north of Bradenton, a little south of Tampa in Ruskin...the tomatoe capital of Florida. It is very residential....not commercial like St Petes, but has everything, restaurants, stores, golf, tennis, sunshine.
We were there for 2 weeks, first week temps were mid 60s, second week mid 70s, and this week, now that we left was supposed to be mid to hi 70s with very little chance of rain.
What a shock when we got off the plane and the temp was about 25 and last night we had 5 inches of snow.
What am I doing here??????????
I think I am talking myself back into it. :shades:
Funny, my wife, the CPA, controls the check book(s)& when I put up a fuss back in November, she gave it to me...but after an hour she was so agitated about it, I just gave it back to her...wasn't worth the hassle. I just charge everything now & we get the "bonus cash" our particular Chase card gives. I went to the bank & set up where I can see everything online so no more problem...one click & I'm in the account. A win/win situation!
The Sandman :sick: :shades:
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
Comments
As a Canadian citizen, don't you have to pay much higher property taxes than a Florida owner/resident?
I would hate to see my neighbour who lives so close to me in Burlington get in a mess of worry...there is also the issue of estate tax as a Canadian who owns property in Florida...in case you ever get in the way of a stray golf ball!
The temptation is great, I admit, as prices are so low. I really feel for those who have been caught in the real estate price spiral.
Doug
Here is the official reason why fire trucks changed from red to yellow or lime green, and then back to red. All your answers were good, especially the one about being green/yellow until it matured.
Several years ago some research was done to determine what colors are most visible to the human eye. The idea was to paint firetrucks this color to avoid accidents. The results revealed that a lime green or yellow was the most visible. Many departments began using these colors in the interest of safety. These colors are more visible at night as red turns black in low light conditions. After a few years it was determined that departments whose apparatus had changed colors from red to one of the "safer" colors were actually more likely to be involved in an accident as motorists were less likely to identify them as fire trucks, often mistaking them for the power company, or construction vehicles. As to being more visible as night, emergency lighting keeps this from being a factor.
why are fire trucks red or yellow
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Thanks for your thoughts...and I have lots of concerns too. I will say, there are only 72 units and the people who live in this development like it. Right now there is only one unit being sold through a realtor and 2 units are for sale privately.
When we calculate it we think you would have to be there for about 4 or 5 months to make it cost effective, over renting. We would only stay for about 2 months.
There is something about owning your own place and having all your things there when you get there. On the other hand, renting has lots of benefits too.
It is a difficult decision,. and your input along with others nycguy and dougb10 help with coming to a decision.
I offered 10% below what she was asking, but I wanted the furniture which was all new and beautiful. She said she thought it was lower than she expected (doesn't everyone say that), but she would get back with a counter price.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Driver, don't go near those condos. Flood and hurricane insurance can cost a fortune. Also, people are defaulting on the HOA fees which are passed on to current owners. Even if you go to Florida twice a year for a month each time, it's not worth it. Ownership limits you to one place. There are nice places like Sarasota, Jacksonville, West Palm, Port St. Lucie, Juniper, Vero Beach, Key West etc. that you may like to visit. Remember: All that glitters is not gold. By the time that you pay insurance, taxes, fees, maintenance, etc., your money is better spent on staying where you like and then going home worry free. Though we are only three hours from North and South Carolina beaches, we decided years ago not to buy at the beach. When we go, we stay at different beaches at different times of the year. We feel that we get more variety, and don't have to worry with keeping up a beach house. On top of that, we also enjoy trips to the mountains. I rather rent and let the other guy deal with the headaches. Keeping up one house is more than enough for me.
Richard
People do have to consider certain things when prices go down. Your condo may have gone down $80000 but the place you want to buy may have gone down $120,000.
Things are relative. The townhouse villa we are considering (a long way from a done deal) was built in 1992. There are 72 units in the community and the people stay in them, not too many for sale at any one time. You are also buying a way of life. You are not just going to spend a month or two in isolation. You are meeting people with similar interests who will become your Florida neighbors and friends.
I am not sold on it completely too, just presenting the other side.
The units we stayed in other years are in a real messy state. There were about 400 townhouses and condo apartments and only about 15% ever sold. They have dropped in value from $500,000 to $99,000 in one case, and most are $179k to $199k. There weren't enough buyers to register it, so buying there is like buying in no man's land.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I do too! It is a shame when people buy a house and then watch the value go down to half. So many people walk away because they can rent for a fraction of the cost.
My Burlington Ont friend, we are going to get 6 to 8 inches of snow tonight. How can that compare to mid 70s and sunshine for one week, watching dolphins, eating seafood at all the good restaurants in the St Petersburg area, walking around in short sleeves and shorts in February?
I do agree though, there is something to be said for peace of mind, and buying your vacation as it comes up.
I learned my lesson a long time ago. Bought a little sailboat, thinking that would be fun and relaxing. It is hard work. Had to take a course, then buy a trailor, license, and insurance and worst of all figure out where to store the thing. I said after that, in most cases, it is better just to rent something like that if you are only going to use it a few times a year. Also, it wasn't too easy to sell in the end either.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Nice to have you back with us.....did you get a flu shot? This years flu is a really bad one.
I value your comments and I agree with all the points you have made. The advantages to owning, with all the additional costs and worry do not make sense looking at it logically.
The advantages of owning are that you will probably enjoy your vacation home more...it is the way you want it.
You will see the same people each year and so you will meet other people. One week or two isn't too bad but vacations are usually better if there are people around to do things with.
You would probably stay longer because it is already paid for anyway.
It is difficult to find nice dog friendly places. It really limits you when you have a dog.
Generally, I agree, it doesn't make sense from a practical standpoint. It is almost all emotional. Buying in this case is not to make a profit in real estate. I am not good enough to predict the future about these things. I believe you buy a house because you want to live in it. But, I do think the risks are very large, and I am not sure if the upside is worth the risk.
Thanks for your thoughts and for taking the time to write (when you aren't feeling 100%), and hope you are feeling better.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Would it be possible to rent it out, if you wish, to help defray costs? Or maybe you have relatives who could use it on occasion? Just do your homework and if it works, go for it.
2013 LX 570 2016 LS 460
My experience with condos - admittedly limited to the suburbs of NYC - is that they trail the market when prices are climbing but lead the market when prices fall. In other words, the downside risk is greater than the upside potential.
IMO, this is because a significant percentage of prospective buyers simply won't look at or even consider a condo, no matter how nice it is. So when the time comes to sell your condo, your pool of potential buyers is smaller & you have to drop your asking price accordingly just to generate interest in your property.
I happen to enjoy condo living because I'm a slug when it comes to household chores, but I've learned that a single-family house holds its value better than a condo does.
LOL! Don't worry. They will! Just don't expect them to offer to pay.
"Would it be possible to rent it out..."
Then you have to pay a management company to rent it and keep it clean, plus the additional wear and tear on a unit that is nearly 20 years old. Just doesn't sound like a good plan to me.
Richard
That's what the bankers should have told those people a few years ago who couldn't really afford those larger homes---go rent, and return when you have some money and a good paying job. Greed, greed.
"Bought a little sailboat, thinking that would be fun and relaxing."
Keep that picture in your mind for the next thirty days. This fever,too, shall pass. I hate to be so negative to your idea. You deserve to be happy. I just don't think that a 20 year old condo in Florida at this particular time will make you that happy later. You can have a lot of happy trips for the cost of this condo. Still, it's your money and your life style. Just give it a month and see how you feel. Winter will soon be over. Your feelings could change.
Richard
One couple we talked to have been renting there for 3 years. One came up this year and they liked renting so much they decided to buy. So that is a point definitely in favor of buying.
I don't really like relatives coming and staying when we are there...kind of like privacy on vacations.
Renting out defrays costs, but can really ruin the place for a few extra bucks. And you have to have a way of putting your personal stuff away.
My wife wasn't for staying in Florida for more than 2 or 3 weeks at a time. But, after this year she likes the idea of staying for 2 months, and she would be much more inclined to go if we actually owned the unit.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I like condos when they work right, which doesn't happen that often. I still think people who are trading up, and think they could have got more for their home say a year ago, often forget the home they are buying is also going to cost less.
If people don't get much joy out of looking after their own home a condo is a good solution. My prediction is condo prices will go up, more baby boomers coming into the market, more retired people who don't want to look after a home, more people who just don't need semi-detached homes.
I even think Florida will start to boom a bit in a few years for these reasons. More baby boomers retiring and the cold is harder to take, the older you get. But, I wouldn't buy for that reason.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
LOL! Don't worry. They will! Just don't expect them to offer to pay.
The fellow that takes us to the airport told us about people he just took to the airport. He had both sets of children with spouses and grandchildren visit for a week. He was exhausted....and broke, had to pick them up and take them to the airport, take them out for meals, babysit grandchildren while the group was there. He finally got a week to himself and his wife.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I wouldn't hold my breath waiting for this to happen. It'll take more than just a few years to work through the excess housing in Florida.
As a rule, the real estate market is driven by job availability. An abundance of good-paying jobs in a particular area pretty much equates to a strong real estate market in that location.
Florida's problem is that in the boom years, too many of the good jobs were tied to home construction. One business writer observed that the Florida economy was largely built around getting people to move to Florida.
driver - if you need one of richard's they come down and don't expect them to pay sorts we're available. Just send me the key!
2013 LX 570 2016 LS 460
What model XPS did you get? The 7100? My dad needs a new desktop for his office, and this sounds like it might hit the sweet spot.
I've read mixed reviews about the AMD Phenom II processors that have 6 cores, but the Intel i7 Quad Cores are more expensive for what seems like relatively comparable performance. We aren't talking a computer that is going to be used for gaming or even movies - just typical work tasks.
I absolutely remember those days, which is why I'm stunned at the capability of my laptop, or my phone, for that matter.
Whenever I travel to Europe or Asia I'm still amazed at my ability to communicate with my office and others as if I were in the next zip code.
Time marches on, and some of what happens as a result is good. It's hard to keep that in mind sometimes.
OK...but how do you look. When getting over an illness looks are not deceiving. But I'm glad you are "feeling" better.
Maybe it was the chicken soup. :surprise:
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Let me tell you her counter offer/s:
(1) She will accept your 10% lower offer but she keeps the funriture...or
(2) Pay full boat and get the furniture.
I don't like those 'pig in a poke' condo fees...they never go down. So, FWIW, I'm with the others and vote not buy.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Besides the $1000s of dollars I spent on common charges and assesments, it took me close to 2 years to sell, and after paying brokers fees I ended up losing $80,000 just to get rid of it.
Cost our forum a couple of "STORIES FROM THE SALES FRONTLINES" as well.
We have friends from NJ who are expecting their 1st child any day now. They came up to CT to visit & have dinner with us a few weeks ago. The topic of real estate came up & they said they are trying to deide to rent for another 2 years, then buy a starter home or buy a condo. I told them to rent if they must, but a House is a far superior way to go than a condo.
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
I've seen some luxury condos on the North Shore that I've liked, but I wouldn't buy one unless I knew that it would be the last home I'd ever buy. Then my heirs could worry about selling the place.
they do have a good deal on these from what I can tell though, for what you get for not much more than a gussied up lower level model.
the other unit that seems to be a good deal is the HP 6720f (my other, cheaper choice). 4 core AMD, but just integrated graphics. Probably still overkill for anything I will ever do with it, but I like to be prepared!
I think the dell also has better components/construction (more usb ports, better power supply, stuff like that.).
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
That's the reply we got.....she said it was too hard to give up her beautiful home and the furniture is all brand new. I was surprised she didn't come down a little bit.
The condo fees (the villas are actually built in quads, but they look like individual homes) are $350 month, and that covers grounds, roof, exterior walls and exterior insurance, termite control, swimming pool, club house etc.
I don't think that is too high if you consider what you pay for looking after lawns and exterior, a pool, insurance, roof, paint etc...that would be a minimum of $2000 a year for a house.
But, as nyc pointed out, extra assessments can really add up and if a unit goes vacant then those fees have to be covered, probably by other owners. And, of course getting along with the board of directors who aren't always capable.
Well, now that you have ruined my dream home fantasy (actually I appreciate the comments, I think it is great to know about the pitfalls), I have to try to persuade my wife that it will be better to rent.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
If the HP has an open PCIe x16 slot - it probably does - you can easily add a dedicated graphics card later on. Just make sure that the power supply unit can handle the extra load. (If not, it's no big deal to replace the PSU with something beefier.)
A good way to acquire a powerful computer on the cheap is to buy a refurbished desktop for $300-400 & then spend another $150 or so to upgrade the components.
I'm doing research and I think the 7100 is probably the best bang for your buck right now. To even get a comparable quad-core Intel i7 processor (which is their upper level quad core) its a couple hundred more, at least. To get their i7 six core processor, it is out of the question to stay under $1000.
I have a real mental block about spending over $1000 for a Windows based PC for, I'd say, 97% of applications. You can't get that many Mac PC's under $1000, so that is my exception to computer buying, but I love them for their operating system and their overall durability.
I’m glad that you can see that I wasn’t trying to “ruin” anything. If you bought and it didn’t turn out as you “figured”, you’d be the one that got ruined by Mrsdriver.
Maybe this is a little selfish of me but we can’t afford to lose dues paying members here. We’re already down a little as it is and I’m trying to avoid a bump in dues because of lost membership. This is almost like that condo thingy.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
2001 Prelude Type SH, 2022 Highlander XLE AWD, 2025 Camry SE AWD
After 5 days of the flu at my age, I look like HELL. I'm getting ready to shower, shave off a week's growth, and go get a hair cut. Perhaps that will help some. Man, it was a killer week. Both cars need washing really bad, the yard work has piled up, and I need to pay the bills. I'm so far behind it will take forever to catch up. On top of that, the moving van arrives Thursday with all of that stuff from the cousin's house. Still, it's great to be feeling better. As they say, one day at a time.
Richard
Best advice yet! That is the one argument that will work on Driver.
Richard
In our house the car and yard stuff is on me but the checkbook stuff is done by ‘you know who’.
I’ve told the tale before about me screwing up the ckeckbook so bad, about 3 months after we were married, that I had my checkbook privileges yanked forever. There is an advantage to having that happen.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
I’ve told the tale before about me screwing up the ckeckbook so bad, about 3 months after we were married, that I had my checkbook privileges yanked forever. There is an advantage to having that happen'
There can be a bad side to that also. I wrote a big check last week for a vehicle and took it to the bank to get it blessed. Only thing was per their procedure they wanted to see my signuture on a check (any check from our account), but because I very seldom sign any they couldn't find one anywhere. Bit of a hassle that to 15 minutes or so to get straight (they didn't hassle me, just needed to follow the procedure)
Well, I presented the negatives to Mrs. Driver but she is still interested in the villa home. I can understand her point too and it does make sense.
*If we are going to spend 2 or 3 or even 4 months in Florida during the winter it is nice to have a place the way you want it.
*It is very difficult to find a rental unit that is what you are looking for, and that will accept dogs.
*Units don't come up too often and there has only been one foreclosure in the past few years...out of 72 units.
*If you are spending a month in a place you have to be in a community with people who are doing similar things. At the villa there is a common pool area and club house for get togethers. When you rent you aren't buying into a lifestyle, you are buying accomodations. You are isolated as people come and go.
Nothing is decided yet for sure, and we are still a long way off on price and closing dates etc.
We are meeting with our financial guy later this week and he has a winter condo townhouse in Arizona, so that should be informative.
I like that idea of the Edmunds guys from the north all buying a share. 12 people, at $10000 each and we can draw straws to see who stays in what months!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Best advice yet! That is the one argument that will work on Driver.
That's funny. I don't really need any more BMWs though....actually that Fusion I rented in Florida was pretty good............though, uh, not quite the same.
If we get the condo then I probably won't be getting a new BMW this year, so I won't have a car sales story for you,....I'll have to find "Condo Stories from the Sales Frontlines".
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I usually get one or two bad colds a year, and I can't do anything, my head feels like a bowling ball, I have to lie around all day...I am useless.
If my wife gets a cold, she keeps going like nothing happened...she can function normally.
I don't get it!
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I could have that problem too but I take Mrs.j with me when I buy a car and she writes the check. As she's writing the check I usually hear, “this is probably why you wanted me to come along, huh”?
Damn, she’s got me figured out.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
You holding out on a sales story ???
2013 LX 570 2016 LS 460
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2013 LX 570 2016 LS 460
I think we could arrange that quite easily. I think it will be Dec, Jan and Feb that people will be fighting over.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Naw, I said it was for a vehicle
Nothing to special about the story, just run of the mill stuff with the exception of one little annoying thing with dealer that I got taken care of.
Hey ‘fez’, when you get a chance, how bout takin care of this for me.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Paradise right now, but that's why we moved here in the 1st place.
The Sandman
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
2013 LX 570 2016 LS 460
The Sandman
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
It is north of Bradenton, a little south of Tampa in Ruskin...the tomatoe capital of Florida. It is very residential....not commercial like St Petes, but has everything, restaurants, stores, golf, tennis, sunshine.
We were there for 2 weeks, first week temps were mid 60s, second week mid 70s, and this week, now that we left was supposed to be mid to hi 70s with very little chance of rain.
What a shock when we got off the plane and the temp was about 25 and last night we had 5 inches of snow.
What am I doing here??????????
I think I am talking myself back into it. :shades:
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
The Sandman
2023 Hyundai Kona Limited AWD (wife) / 2025 VW GTI (me) / 2019 Chevrolet Cruze Premier RS (daughter #1) / 2020 Hyundai Accent SE (daughter #2) / 2023 Subaru Impreza Base (son)
Sounds tempting.