Poll of the Day > I'm going to see mortgage specialist tonight.

(+) Yeah! (+)

Might buy a condo. Haven't 100% decided yet, but I wanted the option available if I decide to, so getting pre-approval done now.

I both do and don't want a house. A house is a lot more to take care of, particularly with my interesting travel schedule. The main upside to a house for me would be a backyard for my doggo, and they're typically much easier to resell. But I can always choose to rent out my condo if I think it will be difficult to sell.

Condos have cratered in price recently to. They overbuilt them over the last couple years and they have dropped significantly in price because of it. To the point that renting is not really any cheaper that buying. Maybe $200-300 more a month, at most (counting mortgage, condo fees and property tax).

Gonna look at a place on Saturday and go from there.
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make sure you read the governing documents of any association before you purchase the home to see if that is an HOA you would want to live under

also be aware of global assessments in which every homeowner can be assessed for things the HOA wants to do to the community
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I'm pretty familiar with all that fun stuff. Known a few people who've had interesting rules imposed on them by the condo board (such as no coal BBQs, propane only).
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okay cool. i just like to let people know that may not. i deal with HOAs and their governing documents at work.
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Riveting stuff I'm sure...

I'm not thrilled over the idea of being at the whim of a condo board, but if something jumps out at me in the documents, I can just walk away before I sign.
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one reason i'd never want to own a home in an HOA is the common assessment

there's a case going currently where the HOA didn't maintain the common area playground equipment and a teenager fell when it collapsed and is paralyzed.

they got a massive judgment against them for the breach of duty and now they're assessing the judgment against all the homeowners. it's like $20k per person. sometimes your homeowner's coverage can help with that and sometimes it can't. it depends on what caused the loss.

see if the HOA has a property manager. if they have a property manager you'd be at way less risk of something like that happening.
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A Canadian property owner?

Call me sometime
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RCtheWSBC posted...

A Canadian property owner?

Call me sometime

Oh RC. Our love can never be.

Anywho, got everything sorted out with the bank yesterday. It was mostly just me telling them what I wanted and them saying yes.

So I guess I'll start looking tomorrow.
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Dynalo posted...

Oh RC. Our love can never be.

ouch
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Jen0125 posted...

Dynalo posted...

Oh RC. Our love can never be.

ouch

I was personally proud of the rhyme.
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Jen0125 posted...

Dynalo posted...

Oh RC. Our love can never be.

ouch

Always the bridesmaid, never the bride ;_______;
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