aja8888
Moderator Emeritus
HOA dues are $900 and covers everything outside the condo (including insurance.)
That must cover the elevator door guy and valet parking too?
HOA dues are $900 and covers everything outside the condo (including insurance.)
That must cover the elevator door guy and valet parking too?
I've often wondered why it's so high, but when you look at the various costs AND the reserves, it all kinda makes sense (especially since it's Hawaii.)
We just replaced the elevators and I think that cost half a million. But we didn't need an assessment because it was built into the HOA dues (sinking funds.)
The HOA fee DOES include cold and HOT water, TV/internet, sewage, trash removal, building insurance, etc. It's not cheap but it is supportable and sustainable.
I suspect that if homeowners tracked their maintenance cost for 20+ years, they would find similar costs. Of course, in some cases, you can use your own time. That's not an option for an HOA. YMMV
The HOA I was in (55+ community) of 437 single family homes covered all outside maintenance, painting the house exterior every 7 years, taking care of common areas, the clubhouse expenses, pool, etc, etc, for $250 month. So $900 was surprising to me for one building with probably minimal grounds.
There are "extensive" grounds, a parking structure, pool, BBQ pit, grass, trees, irrigation, generator, electricity, sidewalks (need to be power washed 2X/year.)
Keep in mind, in Hawaii, everything grows 365 days/year. Trees must be trimmed once a year. Grass is constantly needing cut. Mother nature tries to destroy the building but provide amazing growth for her plants! SO, on and on.
The place IS kept beautifully.
Sounds great. Everything grows all year here too.
I am now moving into a 1450 sq, ft NEW house in this area. Now that DW is gone, that's all I need. HOA fee is $500/year. Taxes much lower and it's an energy efficient home.
I looked at apartments and condos but was not impressed living in a box.
There are "extensive" grounds, a parking structure, pool, BBQ pit, grass, trees, irrigation, generator, electricity, sidewalks (need to be power washed 2X/year.)
Keep in mind, in Hawaii, everything grows 365 days/year. Trees must be trimmed once a year. Grass is constantly needing cut. Mother nature tries to destroy the building but provide amazing growth for her plants! SO, on and on.
The place IS kept beautifully.
things DW & I agree on:
- need to eventually live in a place without stairs
- don’t really want to buy next home in Western NY where we live now
- it’s hot in Florida where youngest son & wife live
- we could hire most everything done around the house for what we’d pay in rent
- we want to keep our 20 ft travel trailer and would prefer not pay extra to store it
There are very few home maintenance chores I enjoy.
I also have a hard time paying someone else to do it IF I can find someone reliable.
I’m curious to hear about experiences moving into condos, single story freestanding homes, owing 2 places summer/winter (especially the maintenance), getting rid of 30+ years accumulation, etc.
I searched using the app for similar topics with no results.
The mobility issue is a very real concern - as we were shopping for our forever/retirement house, there were two imperatives:
1) Minimal entrance stairs and potential for a ramp if needed
2) Master BR on 1st floor w/walk in shower
3) Wide enough doors for WC access
Our home is two floors, but if need be, everything that is required is on the 1st floor.
It was a lot harder to find a house that met these criteria than I would have thought!
The mobility issue is a very real concern - as we were shopping for our forever/retirement house, there were two imperatives:
1) Minimal entrance stairs and potential for a ramp if needed
2) Master BR on 1st floor w/walk in shower
3) Wide enough doors for WC access
Our home is two floors, but if need be, everything that is required is on the 1st floor.
It was a lot harder to find a house that met these criteria than I would have thought!
Our former home was also like that. We could have just lived on the ground floor if needed- turn the office into a bedroom.
But the other thing was the house was set back 700 feet into the woods. Lots of tree and driveway maintenance. And too isolated for retired people who are home all day.
We were darn lucky to find what we did because it is rare in New England and the Northeast in general.
. . .
No income or sales tax here in NH either. Plus homeowners and car insurance much cheaper here. Yeah- property taxes can be high in some places but due to the downsize we are still paying half of what we paid in NY, so we are ok with that.
. . .
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New Hampshire currently taxes income from dividends and interest - which may be relevant to retirees obtaining all or part of their income from dividends and/or income. Per their website it is being phased out - but this income IS currently taxed.
https://www.revenue.nh.gov/assistance/tax-overview.htm#interest
When we looked for a condo with a view of the Pacific. We found the PERFECT view. BUT, just to get into the condo, you had to do one flight of stairs. THEN once inside, you had to do a flight of stairs to use the bathroom (not even a powder room on the main floor.) We liked the view so much we put in an offer OVER the asking price - but we didn't get it. We still thank God that we didn't get it. A couple of years later, DW tore a tendon in her foot. She had to be in a wheel chair for 6 weeks and had difficulty walking for another 6 weeks.
What was it Garth Brooks wrote in a song? "Sometimes I thank God for unanswered prayer." YMMV
We have been in a 14-unit, over 55, duplex/townhouse condo community in MA for 10 years. Our unit is about 2400 sq. ft, two stories. Also a large unfinished walk-out basement. We can easily live on the main level (has master bedroom and bath there) and often go weeks at a time without going upstairs. I am in the basement every day for working out or letting the dog out. We are 78/76 and (so far) stairs have not been a problem. Community is quiet and neighbors are all pleasant and respectful. We have to drive to beach, stores, medical, library, etc as we’re in a residential area away from downtown. Our first condo experience and while not awful, there are a few things I wish I’d been more knowledgeable about before buying. I’d grade our overall experience/satisfaction a B or B-.
We’re not entirely sure this is our “forever” home but so far haven’t seen an alternative that would cause us to go through the hassle of moving. Have looked at a couple of CCRCs but find them too institutional (as well as expensive). Don’t like the idea of apartment living. Possibly an updated 1200-1600 sq. Ft ranch/rambler but then there’s the maintenance - either DIY or hire out (probably the latter). We also wouldn’t mind being a bit closer to our daughters - the 1.5 drive and Boston traffic are getting old.
Condo issues:
- ever-rising condo fees. Partly due to a relatively low number of units covering the costs. No economies of scale. (We are in good shape with respect to reserve fund, thank goodness.)
- No town sewer, trash pickup, snow plowing. Private road and septic system. Residents pay taxes and still bear those costs.
- fewer residents willing to serve on condo board.
On the plus side, those who have sold have gotten very good prices with short time on the market, so it’s obviously a desirable community. If we weren’t careful we could do a whole lot worse so we hesitate todo anything too rash.
Wait! You’re 78 and 76 and your not sure if this is your forever home?! lol!
I know at our ages of 67 and 69 this is the last home we will own. The next phase is assisted living or nursing home or 6 feet under! ?
Haha......I'm turning 80 this Fall and building a new house as I type this (small one) that may not be my last house either. I may get the itch to move somewhere else in the future and this house will be on the market or turned into a rental.
God bless you! I think you’re nuts, though. Ha! Ha!
In the past few years we’ve lived in our retirement state we know several people who have since passed- one in his 50’s, one 60, another at 64, one at 69, another in her 80’s, another at 75.
Nope. I’m content to stay right here. I'm
Not searching for anything.
You gotta do something. Has it been fun picking out the details on the house?
Wait! You’re 78 and 76 and your not sure if this is your forever home?! lol!
I know at our ages of 67 and 69 this is the last home we will own. The next phase is assisted living or nursing home or 6 feet under! ?
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Wait! You’re not even 70 and you’re already talking about nursing homes?