A failed experiment... possibly

[Pax]

Thanks, Crankin.

Thats where we're at, Emily. Condos are fine if the involved parties have the same basic viewpoint regarding money and behavior, but so far we're finding that to be rather rare. No, I don't think it's a good idea to spend tens of thousands of our reserves on boat docks used by 15 of 75 units, no I'm not thrilled with people giving out their pool and clubhouse keys to local "friends and family" numbering in the 100's to use the facilities night and day. Mostly I think we should all be polite and respectful, keep an eye on "our" property and help out our elderly neighbors... these points we seem to differ on. *sigh*

[Sky King]

As someone who qualifies for the category I can type this, Have you looked at 55 and older neighborhoods ~ We don't live in one but we do live above our bike shop in a small retail/residential area so am extremely spoiled.

[Pax]

I would definitely look at one if they existed in our town, I like little kids but prefer not to live amongst them. There are areas that appeal to retirees so we'll look there.

[Catrin]

I think it's cool that you're getting back into your old place. Wishing you the best as you consider what might come next. Personally I've never owned, and at this stage in my life I don't see that happening, but I can certainly see the attraction. The next time I move it may well be to a complex that caters to the >55 crowd, I'm certainly there. I find that I appreciate the quiet much more than I once did, though where I currently live is quiet 99% of the time.

[Pax]

We keep looking at the math, trying to decide if we want to bother buying. In our market it's a wash monthly cost wise between owning and renting. The two differing points come from a) in 20 years you'll have good equity, and b) in 20 years you won't have paid a cent for maintenance. So we go back and forth.

[ny biker]

Financially, buying a condo was not a good decision for me. I didn't realize it when I bought 12 years ago but it was a terrible time for me to buy a place. It was such a seller's market, I ended up with a real fixer-upper because I was outbid on everything else. If I'd known how much it was going to cost to renovate I think I would have continued to rent, at least for a few years if not longer. If I tried to sell it now I would end up getting the same price I paid back then. I don't even have all that much equity, due to having to refinance with an FHA loan and mortgage insurance to get rid of the original adjustable rate mortgage.

However there are other reasons why I like owning my place instead of renting. And around here rents do seem to increase significantly from year to year, so maybe owning a fixer-upper is not the worst investment.

It's just a complicated decision.

As for retirement communities, I think I would at least consider living in one at some point. But yes it would have to be quiet -- solidly built like the pre-war apartments where I lived in NY and Chicago (she types after turning up the TV volume to the max to drown out the clomp-clomp-clomp of the elephant upstairs...).

[Crankin]

In my opinion, it's always better to buy, unless you are buying something that is going to require a lot of repairs that can break the bank. And sometimes, you never know what is going to come up, with home ownership. Personally, although I live in a very small, cut-de-sac townhouse development, I don't like having to see my neighbors come and go, knowing their daily routines, etc. I know, it's weird, but after 25 years of living in somewhat secluded neighborhoods, it is different. It's not noisy at all and everyone behaves, but I haven't lived this close to neighbors since I left AZ in 1990. I guess that's why all the houses there have block walls around the backyards. I truly only knew the people on either side of me.