4 ms·
To your point re 400k condos, I would very much question the quality, size, and location for these. 400 seems very low and below market for the city.
by coaxial 8y ago
To your point re 400k condos, I would very much question the quality, size, and location for these. 400 seems very low and below market for the city.
- rchaud 8y agoYou can get an OK-quality condo for $400k, but it's definitely not going to be located in downtown or midtown. The condo fees I've seen however are unfortunately pretty high across the board, anywhere from from $500 to $900/month.
- user3359 8y agoUsually $0.60-$0.70/sqft. Some terribly built and managed buildings are higher. If you're at 600 square feet I wouldnt expect to pay more than $450/month. This is however much less than the repairs and maintenance on a house. Replacing a roof? Furnace? Lawn work? Have fun. Plus having concierge to receive packages for you is fantastic.
- ABCLAW 8y agoThe condo fees explode in most new developments between year 2 and 5, often tripling in the city. Additionally, the baseline fee burden is amplified by the practice of developers counting guest suites as sold by pre-selling the suite to the condo corporation, who then place the financing costs of the guest suites onto the unit owners.
- rchaud 8y agoI did not know about this. I'm pretty inexperienced in this area, so I appreciate the heads up about that.
- user3359 8y agoThey're small, to be sure. You get 400-500 square feet. Enough to eat, sleep, work a little from home and watch movies with company. Perfectly livable. There's both modern and older buildings at that price range.