Comments on: Downsizing to a Condominium – Is it Too Soon?

By: Anita

Anita — Wed, 21 Jul 2010 14:48:13 +0000

I’d like to have some more insight in condo from someone with dogs. We are planning a visit to Long Branch Lakes in TN soon and will be looking at condos vs building a 1400-1500 sq foot home. We also have horses that would be boarded at LBL. Any comments/insights on life in a condo with a couple of mid-sized dogs?

By: Mr. GoTo

Mr. GoTo — Sat, 07 Feb 2009 05:54:26 +0000

Weakonomist: I hope I’m right. I read in our local paper today that a large, almost completed condo unit has just gone into receivership, with only 9/150 units occupied.

Middleway: Great tips – it helps to hear these things from someone with experience in condo living.

By: Middle Way

Middle Way — Fri, 06 Feb 2009 14:09:10 +0000

In my late 20′s, I downsized from a sprawling ranch backing onto a pond to a townhome condo in a gated community with a club house. It was the first of its kind in my area.

My friends laughed at me because my neighbours were all retired people. I told them that since I wanted to retire early, I might as well get used to living in a place where I do not have to worry about clearing snow, mowing lawn, watering lawn (we had sprinkler system) etc.

The real reason was that I was lazy and wanted to travel without any worries about my home. My neighbours are wonderful people who are active, traveling and have done some very cool things in their life. I lived there 7 years.

If I were to do it again, I would be looking for more solid walls between units (concrete would be perfect) for more sound proofing. I would look for a solid reserve fund. (I bought new so it was in the building stages).

I would speak with the property management company to get an idea of what the board members (your neighbours) are like and if there are any outstanding issues with the complex especially the club house (pools can be notoriously expensive to keep, as well as landscape features like a pond, putting green) because that has a direct impact on the condo fees.

Because there may be different phases of the development, each phase will have their own board of directors so there are potentially a lot of personalities involved.

By: the weakonomist

the weakonomist — Fri, 06 Feb 2009 14:03:30 +0000

That’s an impressive drop. The town where I went to college had some nice new luxury condos that my fiance and I loved. There isn’t much industry in the town beyond the university, so we think we’d like to retire there. The thought of a nice condo near an area we love is very appealing.

My parents are near retirement now and have a house. I’d like for them to move into something smaller sometime in the next decade.

I like the thinking you’ve got, the trick will be like you said finding a place that is actually downsizing, in size and price.