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Loft/Condo owners, come here!

Do you love your loft

  • Absolutely

    Votes: 7 87.5%
  • Not really

    Votes: 1 12.5%

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Bourgie Boho

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I'm saving for an apartment and looking to move out next year. I'm looking to own in the next five years and I'm continuously saving, and looking at areas I see myself in longterm. I'm not really interested in owning a house, and I would love to either own a condo or loft. For the ones in lofts/condos, what has more experience been?

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Fabulous Foxxx

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The lofts I’ve seen in ATL are a bit too cold/drafty/industrial for me, but I do like these unique floor plans. May take some looking but it’s possible you’ll find something bright and cozy.
 

ladyjane999

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I owned a condo for 7 years and I'll just add my 2 cents:

1. Make sure you know how restrictive the Condo Association is. (Mine had mostly retired condo owners on the Board who have nothing better to do all day than to patrol the condos looking for any violation of the rules.)

2. Also, make sure you know if you have to get permission to make even small changes to your condo. (I had to get permission for the smallest things like changing my outdoor light fixture and installing a storm door---I had to submit pictures before the condo association would approve.) It sucks to own your home, but have to get permission to do what you want with it.

3. Ask about rental caps. (A limited amount of the condos that can be rented out.)

4. Just know that you need to be careful if you have allergies to smoke. If you have to share walls with someone who is a heavy smoker, you condo including clothes in the closet will pick up the smell. This issue was my breaking point...I sold and got out.
 

Bourgie Boho

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I owned a condo for 7 years and I'll just add my 2 cents:

1. Make sure you know how restrictive the Condo Association is. (Mine had mostly retired condo owners on the Board who have nothing better to do all day than to patrol the condos looking for any violation of the rules.)

2. Also, make sure you know if you have to get permission to make even small changes to your condo. (I had to get permission for the smallest things like changing my outdoor light fixture and installing a storm door---I had to submit pictures before the condo association would approve.) It sucks to own your home, but have to get permission to do what you want with it.

3. Ask about rental caps. (A limited amount of the condos that can be rented out.)

4. Just know that you need to be careful if you have allergies to smoke. If you have to share walls with someone who is a heavy smoker, you condo including clothes in the closet will pick up the smell. This issue was my breaking point...I sold and got out.


Thank you! The sharing of space is what puts me off about a condo. Is sharing a wall a thing with lofts as well.
 

VeganBae

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I live in a condo and plan to sell next year. I agree what was previously mentioned about condos. I’ll add that sharing a wall or living under a noisy neighbor can be a pain. Some condos are advertised as having a level of soundproofing but you can still run into issues with noise. I didn’t want the maintenance of a house initially but condo life and noise is disturbing my peace.
 

LexC

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I live in a condo and plan to sell next year. I agree what was previously mentioned about condos. I’ll add that sharing a wall or living under a noisy neighbor can be a pain. Some condos are advertised as having a level of soundproofing but you can still run into issues with noise. I didn’t want the maintenance of a house initially but condo life and noise is disturbing my peace.

This is me all day. I’ve started looking at houses as I‘m ready to get out of the condo life. I can’t take folks living over me anymore. It was a nice intermediate step and I have gained equity out of it, but I’m over it.
 

SeeMyselfOut

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I owned a condo for 7 years and I'll just add my 2 cents:

1. Make sure you know how restrictive the Condo Association is. (Mine had mostly retired condo owners on the Board who have nothing better to do all day than to patrol the condos looking for any violation of the rules.)

Been there done it. The Condo/Homeowners Association was a nightmare. They tried to "fee" me on everything. If my car was a tiny bit over the parking white line . . . LOL
 

Bourgie Boho

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So, I decided to look on spare room because I'm considering a roomate and found the place of my dreams. It was a room for rent and it was located in inman park. I would only have to pay 1200 and the townhouse was everything. She is no longer taking applications and I feel like throwing up!! Back to the drawing board.

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Page

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So, I decided to look on spare room because I'm considering a roomate and found the place of my dreams. It was a room for rent and it was located in inman park. I would only have to pay 1200 and the townhouse was everything. She is no longer taking applications and I feel like throwing up!! Back to the drawing board.

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You might as well just get your own place outside of the perimeter for that amount.
 

DeafningSilence

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If you can, get an end unit.

Get a copy of the cc&rs after make an offer but before the final inspection.
Also, their budget and expenses. What is in their reserves. See when the last time they raised dues, when is the next time? When they last placed/ repaired the roof, did termiting, all of it. Last thing you want is to buy in a place that can't afford it if something goes really wrong or just their bills in general. Then they will have to assessments. And those you have to pay. Also when you do decide to sell, it will be harder to do so, because no one else will want to buy in a place for those same reasons.

See if you can get a floor plan of all the various units (if they different ones). Last thing you want is your bedroom wall against the neighbors living room wall.
 

moonologie

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I was considering purchasing a condo because I am by myself and I don't feel ready to be a full fledged homeowner right now.
 

shiloh90

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I live in a condo and plan to sell next year. I agree what was previously mentioned about condos. I’ll add that sharing a wall or living under a noisy neighbor can be a pain. Some condos are advertised as having a level of soundproofing but you can still run into issues with noise. I didn’t want the maintenance of a house initially but condo life and noise is disturbing my peace.
I'm going through this right now too. I live in a townhouse and although i have the end unit; i can hear all noise from the neighbor next to me. The a$$hole who drew the floor plan placed my bedroom right below my neighbors garage. Every-time they open their garage; it shakes my entire bedroom.

The other a$$hole neighbor has a motorcycle and makes noise all day and night. I have gone into deep depression because of this. I want out but i have no where else to live and my mortgage is only $600. I have lived here 6 years, my house has doubled in value and the units here are selling like hot bread.

The HOA fees have increased every year and there's nothing we can do to stop that. The only thing i like about living in a townhouse or condo is the low maintain for yard work etc which is done by the association.
 

VeganBae

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I'm going through this right now too. I live in a townhouse and although i have the end unit; i can hear all noise from the neighbor next to me. The a$$hole who drew the floor plan placed my bedroom right below my neighbors garage. Every-time they open their garage; it shakes my entire bedroom.

The other a$$hole neighbor has a motorcycle and makes noise all day and night. I have gone into deep depression because of this. I want out but i have no where else to live and my mortgage is only $600. I have lived here 6 years, my house has doubled in value and the units here are selling like hot bread.

The HOA fees have increased every year and there's nothing we can do to stop that. The only thing i like about living in a townhouse or condo is the low maintain for yard work etc which is done by the association.
Sorry to hear that and I understand your pain. My low mortgage also has me on the fence about moving. In my area it’s a sellers market right now but it’s hard to find a place to live if you sell. The thought of having to maintaining a house stresses me out but I’m going to have to figure something out soon.
 

shiloh90

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Sorry to hear that and I understand your pain. My low mortgage also has me on the fence about moving. In my area it’s a sellers market right now but it’s hard to find a place to live if you sell. The thought of having to maintaining a house stresses me out but I’m going to have to figure something out soon.
Thank you Queen. I know that i can't even get a Studio in my city fo $600; this is why i have sucked it up and stayed here for so long. I am really thinking about selling in another year or two because i have a lot of equity in my house and i need my peace. Peace of mind is priceless.
 

theprettymiss

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I was considering purchasing a condo because I am by myself and I don't feel ready to be a full fledged homeowner right now.
This is what im in the process of doing, and although HOAS suck.. a condo can still be a good temporary investment if youre in a good location.

As a single woman, I have zero desire to live alone in a single family home..Lol.
 

violette1984

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Thank you Queen. I know that i can't even get a Studio in my city fo $600; this is why i have sucked it up and stayed here for so long. I am really thinking about selling in another year or two because i have a lot of equity in my house and i need my peace. Peace of mind is priceless.
This is why I've put off moving. In a lot of ways, I feel really over it. But I almost have as much equity as I paid for it. It's also really easy to get around. I should have bought a house from the jump, but it's not like it turned out badly for me.

If I came into a little bit of money, I'd buy a little house waaaaaaaay out in the country and just split my time. I'd never be able to buy right in the city again, and I'd love to be able to pass it along to my kids.
 

freckledbruh

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This is why I've put off moving. In a lot of ways, I feel really over it. But I almost have as much equity as I paid for it. It's also really easy to get around. I should have bought a house from the jump, but it's not like it turned out badly for me.

If I came into a little bit of money, I'd buy a little house waaaaaaaay out in the country and just split my time. I'd never be able to buy right in the city again, and I'd love to be able to pass it along to my kids.
Are you in the US? If so, most properties in the country qualify for a USDA loan which is 0% down so you could get the house and rent out the condo to absorb costs.
 

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