GAWD damn houses are expensive

[capella]

I have to replace my AC. It's 26 years old and several years beyond when it "should" have died. It died. But it's over 5K to replace it! Ahhhh, more debt. Stupid me for buying a sofa last week too (really feeling guilty about that NOW). So now I really have to buckle down with money. But it's either that or sit through a Florida summer without AC. Not happening. Damn, houses are expensive. (just me ranting to let off steam.. I guess that's better than sitting in the steam :rolleyes: )

[weary]

ooohhh, amy, i'm so sorry! i know that sucks BIG TIME.

the last major thing i had was a very bad plumbing problem/leak, and i wanted to cry when they told me what would have to be done to fix it! :eek: :cry:

converted me to a true believer in the home maintenance reserves rule of thumb (always keep at minimum somthing like 3% of your home's value on hand for stuff like this). not the easiest thing to do though...

good luck and again, so sorry! that sucks.

[winneythepooh7]

Is this central AC? We have a windowless AC but I want to buy another one this summer for the living room window. It was really bad last summer because of the heat and the windowless didn't do much.

[capella]

I knew once I bought something big like that shit would fall apart. Ugh! At the very least I have good enough credit to actually finance the AC. We could have gone a lot cheaper, but in the end that's not something to skimp on. We could have gone a LOT more expensive too. In fact, the old system isn't even big enough to support the size of our house in the first place. It's completely inefficient. Our electric bills last summer were around 400 a month so hopefully that will be cut down. *sigh*

Time to reevaluate the bill situation. I am starting grad school this summer too so working in the summer is kind of out. I think we'll just have to get viscious with the budget (like spaghetti every day kind of viscious). :cry:

[old_school_soul]

Yeah I have to get my A/C replaced too (it's older than yours, 29 years old :)) Just the outdoor part. I think they quoted me at about $3k. Summer in DC is pretty bad as well.

[Winter Storm]

Truely sorry to hear that, Amy.


But your posts honestly remind me that I'm so not ready to own. For that, thank you.

[capella]

Is this central AC? We have a windowless AC but I want to buy another one this summer for the living room window. It was really bad last summer because of the heat and the windowless didn't do much.
Yes. It's the compressor outside and the circulator thing inside the house. Our duct work needs to be replaced too, but that was another 2700, but it can wait. At this point, anything we do is better than nothing, ya know?

[capella]

Truely sorry to hear that, Amy.


But your posts honestly remind me that I'm so not ready to own. For that, thank you.
Glad to be of service.... I think. :p

[winneythepooh7]

Posts like yours are very useful Amy because I don't think people always realize the costs of being a homeowner. I am going through this right now with my fiance........our rent is high, but being a homeowner will be double if not triple what we are paying now when you figure in repairs and taxes and all the extras.

[Winter Storm]

Posts like yours are very useful Amy because I don't think people always realize the costs of being a homeowner.

Yeah! That's what I meant. Winney just put it more elegantly than I did. :p

[capella]

*sigh* When we were renting we paid 700 a month for a 2 BR 2BA apartment. (The complex went condo soon after we moved so it's not like that would have been an option long term). We pay twice that now for mortgage, taxes, and insurance. To be fair you really can't rent for much less than what we pay for mortgage in most places around here anyhow so...

We put down 10K in the yard last year when we had to have trees removed. That was SCARY. It was like pulling at a thread only to have the whole sweater in a pile when you're done. First it was taking the trees down (about 6 tall sand pines), then they destroyed the yard in the process so we had it cleared, then the guy was skeevy and we had to hire another guy to come level it, then grass, and then it was like the cheap grass isn't much cheaper than the nice grass, but the nice grass needs a sprinkler system, it's an investment afteralll, and etc., etc., etc. By the time we were done it was like DAMN, why not just finish the job and put up a new fence too. Argh. :eek: :eek: :eek:

Next it's the water heater. I'm sure of it! We also have to replace the windows sometime in the next few years, the kitchen counters will last, but the flippers we bought from just relaminated the countertop with new laminate so it really needs to be replaced altogether sometime as parts peel up and we have to glue it back down again (and the hubby chipping the counter didn't help that matter any).

I could go on and on and on.

[winneythepooh7]

I seriously thought about you this weekend Amy. I was watching Flip this House and they were in the Orlando area (that's where you're from right?). These two dudes bought this house in the middle of falling about trailers to fix up. The real estate agents were like "I don't think you are going to get what you are asking in this neighborhood". I think they did end up selling but it wasn't a huge profit, they may have gotten a little higher then breaking even.

[pisces2473]

To be fair you really can't rent for much less than what we pay for mortgage in most places around here anyhow so...
But if you pay that much for a rent, and something goes wrong, you aren't responsible. That's why I like renting so much (for now).

[capella]

I LOVE that show. It makes me feel better about my house since it really is in good condition considering it was built in 1981. We do have a concrete block house (not wood) and the roof was redone in 2004. The house itself really is not in bad condition. Some things need replacing here and there, but overall it's NOT at all a money pit. The AC was original to the house and it is Florida afterall. And the yard fiasco is really a one time deal as far as the expense goes. I have a damn nice house and it really was not that expensive (we owe 166K on it now). Not too shabby. And yeah, I live about 45 minutes north of Orlando. It's considered a "fringe" town to the metro area (even though some 80,000 people live here).

[winneythepooh7]

But if you pay that much for a rent, and something goes wrong, you aren't responsible. That's why I like renting so much (for now).

Yeah, especially considering that a major fixer upper in my area is between $380K and $480K.

[capella]

But if you pay that much for a rent, and something goes wrong, you aren't responsible. That's why I like renting so much (for now).
Yeah I know. But when we moved here in 2004 you could rent a place for 500-700 a month and it would be a really nice apartment. Now it's more like 800-1200 a month depending on where you live (and the 800 is likely a 1br in the ghetto).

Renting definitely does have its benefits though. We could be moving to TX this summer and making a TON more money if we didn't own (since we can't sell right now for anything that remotely makes financial sense). But that's the trade off. I also feel secure that I do own a reasonably affordable home that is in decent enough condition and size for my needs. Renting and owning both have their perks.

[nikorock28]

Yeah I know. But when we moved here in 2004 you could rent a place for 500-700 a month and it would be a really nice apartment. Now it's more like 800-1200 a month depending on where you live (and the 800 is likely a 1br in the ghetto).

Renting definitely does have its benefits though. We could be moving to TX this summer and making a TON more money if we didn't own (since we can't sell right now for anything that remotely makes financial sense). But that's the trade off. I also feel secure that I do own a reasonably affordable home that is in decent enough condition and size for my needs. Renting and owning both have their perks.

Has your home appreciated in value since buying it?

[capella]

Yes. We bought for 138K in Jan. 2005. It was valued at 180K as of April last year when we refi'd the house (now owe 166K on it). I don't think that value is accurate now though. I'm not sure what it's worth at all at this point since the market here is HORRIBLE. The developers are now selling the new homes starting at 175K so that drags down the price of my 26 year old existing home. I think it's probably worth less than 180K now. I don't really know.

We have just decided to buckle down for the next few years since A) things in the market aren't showing great signs of improvement, B) we aren't exactly going broke here, plus you gotta live somewhere and C) we are in a 30 year fixed rate loan with reasonable payments (no crazy ARM or scary loans here).

I just decided to go to school and get my income raised that way. And if I did National Board then I would be able to get more money that way too. So we'll just sit tight. Not much else to do at this point other than shoot ourselves in the foot and I'm not interested in that at all.

[Xander]

NoooOoooo! I'm going to close on my condo in 15 days. I wont have to worry about a lot of stuff (like removing trees... or trees at all, actually) but it's a really weird condo in that it has an in-unit water heater :?: that I expect to die at any point. Oy.

Is this central AC? We have a windowless AC but I want to buy another one this summer for the living room window. It was really bad last summer because of the heat and the windowless didn't do much.
How does a windowless work? That kind of goes against physics, doesn't it? "Air conditioning" is heat exchange, blab blab compressor blab cold air in, hot air out... interesting though. I'll Wiki it.

[nikorock28]

Yes. We bought for 138K in Jan. 2005. It was valued at 180K as of April last year when we refi'd the house (now owe 166K on it). I don't think that value is accurate now though. I'm not sure what it's worth at all at this point since the market here is HORRIBLE. The developers are now selling the new homes starting at 175K so that drags down the price of my 26 year old existing home. I think it's probably worth less than 180K now. I don't really know.

We have just decided to buckle down for the next few years since A) things in the market aren't showing great signs of improvement, B) we aren't exactly going broke here, plus you gotta live somewhere and C) we are in a 30 year fixed rate loan with reasonable payments (no crazy ARM or scary loans here).

I just decided to go to school and get my income raised that way. And if I did National Board then I would be able to get more money that way too. So we'll just sit tight. Not much else to do at this point other than shoot ourselves in the foot and I'm not interested in that at all.

Yeah, a home is worth only as much as a buyer would be willing to pay. If the new homes are going for 175K, then perhaps yours is not worth as much as the 180K it was appraised for in April. Like you said, who really knows.

Also, as you mentioned, renting versus owning is a trade-off. I always read that you have to be willing to commit at least 5 years to a home. Plus, when you are married, it's probably not so easy to just pick up and move somewhere else because you have to have jobs lined up for both husband and wife. I think owning a home is definitely a wise investment in the long run, but it seems like such a huge commitment. If something happens to your job, you can't just up and leave and relocate to another area/position. You also cannot do this if you are in a marriage (or another committed relationship). My job didn't work out and now I will be relocating about 140 miles south of where I am now for a new opportunity. If I were married or had a home, it would definitely complicate things!

[winneythepooh7]

How does a windowless work? That kind of goes against physics, doesn't it? "Air conditioning" is heat exchange, blab blab compressor blab cold air in, hot air out... interesting though. I'll Wiki it.

It sits on the floor and has a tube that goes out the window. And it doesn't work very well IMO. It cools a room down a bit, but not like a normal window unit. I got this because I used to live in a basement apartment with a very small window.

[capella]

Yeah, a home is worth only as much as a buyer would be willing to pay. If the new homes are going for 175K, then perhaps yours is not worth as much as the 180K it was appraised for in April. Like you said, who really knows.

The developers around here are INSANE. They are getting washed with the housing market (and frankly GOOD I say!). They are offering all kinds of incentives around here to get rid of homes that were built without a buyer on hand. And my stupid town keeps approving more home development!! Enough already! There are already 80K people here with no roads or other community structure to support those who are here. But they keep building. It's so damn aggravating. What my town needs is COMMERCIAL developments and economic developments, not housing. There is FAR more than enough housing where I am. But it's a podunk area that grew too fast for its own good. The city has only been a city for 12 years. As for the developers, I hope they take it hard the way things are right now. Maybe it would run them off to somewhere else. :mad:

[winneythepooh7]

The developers around here are INSANE. They are getting washed with the housing market (and frankly GOOD I say!). They are offering all kinds of incentives around here to get rid of homes that were built without a buyer on hand. And my stupid town keeps approving more home development!! Enough already! There are already 80K people here with no roads or other community structure to support those who are here. But they keep building. It's so damn aggravating. What my town needs is COMMERCIAL developments and economic developments, not housing. There is FAR more than enough housing where I am. But it's a podunk area that grew too fast for its own good. The city has only been a city for 12 years. As for the developers, I hope they take it hard the way things are right now. Maybe it would run them off to somewhere else. :mad:

I heard that about Florida. I also heard that although housing is in abundance, it's good jobs that are lacking.

[winneythepooh7]

Yeah, a home is worth only as much as a buyer would be willing to pay. If the new homes are going for 175K, then perhaps yours is not worth as much as the 180K it was appraised for in April. Like you said, who really knows.

Also, as you mentioned, renting versus owning is a trade-off. I always read that you have to be willing to commit at least 5 years to a home. Plus, when you are married, it's probably not so easy to just pick up and move somewhere else because you have to have jobs lined up for both husband and wife. I think owning a home is definitely a wise investment in the long run, but it seems like such a huge commitment. If something happens to your job, you can't just up and leave and relocate to another area/position. You also cannot do this if you are in a marriage (or another committed relationship). My job didn't work out and now I will be relocating about 140 miles south of where I am now for a new opportunity. If I were married or had a home, it would definitely complicate things!

Other good points!!

[capella]

I heard that about Florida. I also heard that although housing is in abundance, it's good jobs that are lacking.
That's true in a lot of cases. There are some fields that pay well and people do well (someone is affording all those 350K homes in Orlando). But by and large it's still very service sector based. I think that is changing and the economy is becoming more technology driven (esp. in east Orlando).

I also think the price run-up in the last 3 years for housing is ridiculous and there really is not a good reason for it. That's why I refused to buy a house for more than I felt I could afford. I think even the 166K is a little much, but we had to refi and there was a prepayment penalty built in so that ran things up with closing costs and the equity we took out to help with the yard costs. (I'm really glad we refi'd last year when we could because if we had waited we might have been stuck in an ARM). But Orlando is not like in DC where there are tons of lawyers and doctors and legislators affording all the expensive housing. I see no good reason for the high prices.

My job is pretty much the same everywhere though so I don't have a lot to compare with. I know teachers in other locations by and large make more than I do, but usually there is an increase in COL as well. *usually*

[nikorock28]

That's true in a lot of cases. There are some fields that pay well and people do well (someone is affording all those 350K homes in Orlando). But by and large it's still very service sector based. I think that is changing and the economy is becoming more technology driven (esp. in east Orlando).

I also think the price run-up in the last 3 years for housing is ridiculous and there really is not a good reason for it. That's why I refused to buy a house for more than I felt I could afford. I think even the 166K is a little much, but we had to refi and there was a prepayment penalty built in so that ran things up with closing costs and the equity we took out to help with the yard costs. (I'm really glad we refi'd last year when we could because if we had waited we might have been stuck in an ARM). But Orlando is not like in DC where there are tons of lawyers and doctors and legislators affording all the expensive housing. I see no good reason for the high prices.

My job is pretty much the same everywhere though so I don't have a lot to compare with. I know teachers in other locations by and large make more than I do, but usually there is an increase in COL as well. *usually*

Keep in mind that there probably are some people buying 350K homes that are overextending themselves. They may only be able to afford an interest-only, ARM. It's like that one commercial when the guy has the big house, expensive car, riding lawnmower and says "I'm in debt up to my eyeballs! I can barely afford the finance charges!" I am sure most of the people can afford the 350K homes, but I am sure there are some people who fall into the category of the "commercial guy." In my opinion, if you are just paying interest on your home and not tapping into any principal, you are pretty much renting your own home (AND responsible for all the repairs, upkeep and maintenance). There was a time and place for the interest-only, ARM loans when the housing market was going crazy and you were guaranteed a profit when you sold (assuming you moved to a lower COL area, which may be another problem in itself), but I see no advantage to it now.

This may be off topic, but I was reading a finance article and the author knew a couple who had a yearly income of $350K, so they decided to go out and buy two vacation homes, one in the mountains and one on the beach. Of course, they bought when property was at its peak (because ALL property appreciates, right?). The husband ended up losing a major client and eventually his job. Both vacation properties have went down in value and now they are on the brink of bankruptcy. Scary stuff. Home ownership is definitely a positive thing and can be a great long-term investment (so long as you are paying off the principal and not continually tapping into equity), but I really think you have to analyze all the angles and potential consequences before jumping in. You definitely seem to be going about it the right way capella.

So, if you pay off your loan early, there is no prepayment penalty because it is already accounted for in the loan?

[Kitty]

Nobody in CA has AC.

[nikorock28]

Nobody in CA has AC.

I grew up in southern CA and everybody I knew had AC.

[capella]

So, if you pay off your loan early, there is no prepayment penalty because it is already accounted for in the loan?
Not this loan. It's your standard 30-year fixed rate. I made damn sure there was not a prepayment penalty in this loan because the broker slipped that one in on us when we first bought the house (we had no idea). We originally had an 80/20 2-year ARM loan, which we intended to refinance when the time came. We ended up refi'ing last year because of a screw up with the escrow account. That's where we were slammed with the prepayment penalty. I could pay off my current loan tomorrow and not be hit with any sneeky charges like that. I didn't know to look out for that the first time.

[Kitty]

I grew up in southern CA and everybody I knew had AC.

ya know, I almost wrote "northern CA" but then i just put 'CA'

I guess its just a northern CA thing then..no one here has AC. Or maybe it's just the Bay Area..

[capella]

Florida is really not an air conditioning optional kind of place. ;) Unless you particularly enjoy being sticky and sitting in a humid 85+ degree house for 8 months a year. It's only 75 degrees right now and my house is sticky. Thank goodness they are installing it tomorrow!

[nikorock28]

Not this loan. It's your standard 30-year fixed rate. I made damn sure there was not a prepayment penalty in this loan because the broker slipped that one in on us when we first bought the house (we had no idea). We originally had an 80/20 2-year ARM loan, which we intended to refinance when the time came. We ended up refi'ing last year because of a screw up with the escrow account. That's where we were slammed with the prepayment penalty. I could pay off my current loan tomorrow and not be hit with any sneeky charges like that. I didn't know to look out for that the first time.

Ahh, I get it now. Thanks for the heads-up. If I ever buy a home one day, I'll keep the prepayment penalty in mind. :)

[nikorock28]

ya know, I almost wrote "northern CA" but then i just put 'CA'

I guess its just a northern CA thing then..no one here has AC. Or maybe it's just the Bay Area..

Ahhh, gotcha.

[SmilesSoSweet]

I grew up in southern CA and everybody I knew had AC.

I grew up in So. Cali and everyone I knew didn't have an A/C.

Here in AZ though, it's almost a requirement!

[capella]

It's a sub-prime lending practice. I don't think we were really the "sub prime" candidates the first time, but they tend to look for first time homebuyers or people with really bad credit. I don't have really bad credit. It sure ain't perfect, but it's not subprime either. I knew not to get an interest only or a loan that had a ridiculous interest rate, or even to buy what they were qualifying us for (which was WAY more than I felt comfortable spending). But I didn't know to watch out for tricky prepayment penalties. You also have to watch out for bubble payments at the end of the loan.

[nikorock28]

I grew up in So. Cali and everyone I knew didn't have an A/C.

Here in AZ though, it's almost a requirement!

Haha, I see.

Yeah, totally, at least in the Phoenix area. We don't get 100 temperatures up here. ;):

[nikorock28]

It's a sub-prime lending practice. I don't think we were really the "sub prime" candidates the first time, but they tend to look for first time homebuyers or people with really bad credit. I don't have really bad credit. It sure ain't perfect, but it's not subprime either. I knew not to get an interest only or a loan that had a ridiculous interest rate, or even to buy what they were qualifying us for (which was WAY more than I felt comfortable spending). But I didn't know to watch out for tricky prepayment penalties. You also have to watch out for bubble payments at the end of the loan.

Thanks for the info. Yeah, just because they qualify you, does not mean you can afford it. My good friend was qualified for a $485K loan in CA on a $50K income. He rents out the other two rooms in the house.

What is a bubble payment? If you don't mind... =)

[capella]

Thanks for the info. Yeah, just because they qualify you, does not mean you can afford it. My good friend was qualified for a $485K loan in CA on a $50K income. He rents out the other two rooms in the house.

What is a bubble payment? If you don't mind... =)
I think it's called a balloon payment actually I had the wrong term. It's no different than a long term interest only deal. Basically you are paying only interest for the life of the loan and at the end you have a balloon payment (the whole loan upfront just about).

[nikorock28]

I think it's called a balloon payment actually I had the wrong term. It's no different than a long term interest only deal. Basically you are paying only interest for the life of the loan and at the end you have a balloon payment (the whole loan upfront just about).

I read a little online and that sounds very dangerous. Seems like it would be profitable for someone who has the money to pay off a home, but feels they can do better investing the money.

[Xander]

Florida is really not an air conditioning optional kind of place.
Definitely not! When I worked for Disney, I'd have my AC turned down to the low 60s (since The Mouse paid for it) and walk out when it got too cold, then walked back in when it got too hot. :D It's fun when you're drunk (trust me).

Thanks for reminding me about the prepayment penalty! I applied for a 30Y fixed with 20% down, but my lawyer just told me my mortgager submitted a 30Y fixed with 10% down, 10% second loan. Huh?!? So I've been asking her about the second loan (no idea why she did that) and I'm trying to see if it's beneficial to go with that one vs. the 20% down. I just emailed her to check the terms to make sure they're the same (no prepayment penalty).

15 days 'til close! Yikes!

[analogman]

Definitely not! When I worked for Disney, I'd have my AC turned down to the low 60s (since The Mouse paid for it) and walk out when it got too cold, then walked back in when it got too hot. :D It's fun when you're drunk (trust me).

Thanks for reminding me about the prepayment penalty! I applied for a 30Y fixed with 20% down, but my lawyer just told me my mortgager submitted a 30Y fixed with 10% down, 10% second loan. Huh?!? So I've been asking her about the second loan (no idea why she did that) and I'm trying to see if it's beneficial to go with that one vs. the 20% down. I just emailed her to check the terms to make sure they're the same (no prepayment penalty).

15 days 'til close! Yikes!

Two loans equal approximately twice the paperwork to sign (and twice as many places for them to possibly mess up or sneak something in). The second loan rate is also generally higher than the first loan. Just some things to consider :)

[embrassezla]

NoooOoooo! I'm going to close on my condo in 15 days. I wont have to worry about a lot of stuff (like removing trees... or trees at all, actually) but it's a really weird condo in that it has an in-unit water heater :?: that I expect to die at any point. Oy.
Home warranty, dude. It's worth it.

[pisces2473]

How is having an in-unit water heater weird? That's what we have, and we don't own our condo...

[SpaceMonkey]

How is having an in-unit water heater weird? That's what we have, and we don't own our condo...

I agree. Even in apartments I've lived in that were really old houses converted into multi-unit buildings, each unit had its own water heater.

[pisces2473]

I agree. Even in apartments I've lived in that were really old houses converted into multi-unit buildings, each unit had its own water heater.
Yeah, my last place was an old house converted into 3 apartments and we all had our own units...in the basement of the house, which was a shared space. They were all in a row.

[Xander]

How is having an in-unit water heater weird? That's what we have, and we don't own our condo...
Oh, just because it was built as a condo, and I've never seen a condo with an in-unit water heater. Apartment-to-condo conversions might have them, but to me it was strange seeing a straight-up condo with a heater. Usually it's a building-wide system, along with the air/heat. But then again, it also has wall-unit ACs but with radiant (floor) heat thrown into the mix...

And I'll look into home warranty. Thanks embrassezla! I have to get all the insurance stuff taken care of today. 14 days...

[pisces2473]

Oh, just because it was built as a condo, and I've never seen a condo with an in-unit water heater. Apartment-to-condo conversions might have them, but to me it was strange seeing a straight-up condo with a heater. Usually it's a building-wide system, along with the air/heat. But then again, it also has wall-unit ACs but with radiant (floor) heat thrown into the mix...

And I'll look into home warranty. Thanks embrassezla! I have to get all the insurance stuff taken care of today. 14 days...
Interesting, because most condos I've been in have been almost like independent houses, just attached. What you're describing, sounds like an apartment building to me.

My aunt lives in an old school that was converted into condos (but it looks like an apt to me), that kind of condo has everything connected, I believe. I doubt there's enough space in her unit FOR a water heater--it's that small.

[embrassezla]

And I'll look into home warranty. Thanks embrassezla! I have to get all the insurance stuff taken care of today. 14 days...
DEFINITELY look into it. It's indispensable. I swear, people sell their houses in a condition where something somewhere is JUST ABOUT to go.

We got a one year home warranty for $350, and ended up using it to replace the water heater and have the AC serviced.

[redav]

DEFINITELY look into it. It's indispensable. I swear, people sell their houses in a condition where something somewhere is JUST ABOUT to go.

We got a one year home warranty for $350, and ended up using it to replace the water heater and have the AC serviced.
Xander, you did hire a good, thorough, independent inspector to go through everything first, right?

[embrassezla]

Xander, you did hire a good, thorough, independent inspector to go through everything first, right?
Yeah, I guess I could mention that the stuff I encountered was in addition to the busted sump pump and 3 toilets that didn't flush that the inspector did find. But they can't predict the future, even the immediate future in some cases.

[Xander]

Xander, you did hire a good, thorough, independent inspector to go through everything first, right?
Inspector? What's that? :D

Haha, yeah, I got the home inspection. He pointed out a few things, but the only big one was the water heater, which he said could go at any moment, "or will last another 10 years"--he couldn't say. The other big thing was the ceiling leaked (this is the top floor of a 25 floor building) but the condo association says it's fixed. I was mostly concerned because there's a pool on the roof. :frustrate

Home warranty for sure...

[CTGirl]

Interesting, because most condos I've been in have been almost like independent houses, just attached. What you're describing, sounds like an apartment building to me.

My aunt lives in an old school that was converted into condos (but it looks like an apt to me), that kind of condo has everything connected, I believe. I doubt there's enough space in her unit FOR a water heater--it's that small.

I used to think that too, but I actually know of a ton of condos here in CT that look like what you would normally consider an apartment building. I know somone, for example who owns a studio condo.

[pisces2473]

I used to think that too, but I actually know of a ton of condos here in CT that look like what you would normally consider an apartment building. I know somone, for example who owns a studio condo.
What's sad is that my condo, which I rent, is BIGGER than my aunt's. She owns it!

[Xander]

To be honest, all of the fees-to-date have been far beyond what I expected. Serves me right having false expectations. :p

Now my mortgager is saying the building is supposed to be insured for at least $1M, and that I don't need insurance. I'll still get it though. It's only a few hundred bucks a year--peace of mind is worth that much to me. But oy, the costs keep mounting. :rolleyes:

My aunt lives in an old school that was converted into condos (but it looks like an apt to me), that kind of condo has everything connected, I believe. I doubt there's enough space in her unit FOR a water heater--it's that small.
An old school? Weird. That could be cool but also creepy (I'm picturing "Silent Hill"). :p

[redav]

My aunt lives in an old school that was converted into condos (but it looks like an apt to me), that kind of condo has everything connected, I believe. I doubt there's enough space in her unit FOR a water heater--it's that small.
I've heard of families buying old church buildings and converting them into a single house. That just seems crazy to me.

[pisces2473]

An old school? Weird. That could be cool but also creepy (I'm picturing "Silent Hill"). :p
Well, I didn't see Silent Hill, so....

But it was a huge school, like 3 floors, and each condo unit is a few classrooms. Pretty interesting.