What's Most Important In A Condo?

[The New Juniper]

Thanks to everyone for the input.

Ahh, thanks Midtown Coog. I forgot Balcony. Please allow that to be a write in category.

TNJ

[MidtownCoog]

A balcony!

Don't live like a rat in a cage.

[Hunter]

I would also like to add price, space, location and security to my vote as well.

[jm1fd]

I'd love to buy a condo, but can't find anything that meets my needs....here's where they all fail

I need my own patio area....300-400 sqft where I can grow some grass and flowers...rooftop type garden would be really neat

I need my own garage bay slightly oversized, attached to my unit...not a common garage, preferably 2 cars wide, or 2 cars deep

I need only about 700-800 sqft of living space

Location is important, but not critical.

A dual fuel stove, gas heat, and gas hot water are big pluses in my book as well

Price is very important, as is quality of construction

[The New Juniper]

I'd love to buy a condo, but can't find anything that meets my needs....here's where they all fail

I need my own patio area....300-400 sqft where I can grow some grass and flowers...rooftop type garden would be really neat

I need my own garage bay slightly oversized, attached to my unit...not a common garage, preferably 2 cars wide, or 2 cars deep

I need only about 700-800 sqft of living space

Location is important, but not critical.

A dual fuel stove, gas heat, and gas hot water are big pluses in my book as well

Price is very important, as is quality of construction

<{POST_SNAPBACK}>

That is a rare request indeed mostly in that your outdoor space request is so large compared to the size unit you are seeking.

Do you want to be downtown, midtown, galleria?

[jm1fd]

That is a rare request indeed mostly in that your outdoor space request is so large compared to the size unit you are seeking. 

Do you want to be downtown, midtown, galleria?

<{POST_SNAPBACK}>

Yes, I want a fair amount of oudoor space. I like to sit outside and have my coffee, grill, read, etc....I also want to have somewhere where I can throw the BullDog out when I don't feel like walking her, or want her the hell out of the house. On the other hand, I don't want so much space that maintenance becomes a major time consuming issue.

None of the above. Somewhere with some decent size trees. All of the afforementioned areas are pretty much devoid of trees of any size....and that makes me feel like I'm living in a wasteland. Moreover, land prices are sky high in those areas which will of course drive up the cost of the units. I don't want to spend more than $130k, but I would go $150k if it was *everything* I wanted. The near northside, or east end would be just fine as far as I'm concerned.

Its SO annoying how developers come in and cut down all the trees on a lot unless they're 150 year old Live Oaks. I'm not saying keep *all* the trees, but how about designing around the more substantial ones.

[Lowbrow]

There are some older condos in uptown that meet most of those criteria. They are at 701 Bering. They were built in the seventies. Lots of trees. They have a personal backyard that is the width of your unit and about 10 feet deep between your unit and your own garage. But the smaller units like you are interested in go for $160-170. IIRC.

Great area.

[jm1fd]

There are some older condos in uptown that meet most of those criteria. They are at 701 Bering. They were built in the seventies. Lots of trees. They have a personal backyard that is the width of your unit and about 10 feet deep between your unit and your own garage. But the smaller units like you are interested in go for $160-170. IIRC.

Great area.

<{POST_SNAPBACK}>

I searched on har.com for 701 Bering, found several. Not bad, very nice setting indeed. Although I'd like to avoid the traffic mess that is Uptown, plus that's out of my price range. Know of any others that aren't as pricey?

[UrbaNerd]

Ground level retail!

[RayLSU]

Yes, I want a fair amount of oudoor space.  I like to sit outside and have my coffee, grill, read, etc....I also want to have somewhere where I can throw the BullDog out when I don't feel like walking her, or want her the hell out of the house.  On the other hand, I don't want so much space that maintenance becomes a major time consuming issue.

None of the above.  Somewhere with some decent size trees.  All of the afforementioned areas are pretty much devoid of trees of any size....and that makes me feel like I'm living in a wasteland.  Moreover, land prices are sky high in those areas which will of course drive up the cost of the units.  I don't want to spend more than $130k, but I would go $150k if it was *everything* I wanted.  The near northside, or east end would be just fine as far as I'm concerned.

Its SO annoying how developers come in and cut down all the trees on a lot unless they're 150 year old Live Oaks.  I'm not saying keep *all* the trees, but how about designing around the more substantial ones.

<{POST_SNAPBACK}>

sounds like you are more in the market for a house in the burbs than a condo!

[Lowbrow]

I searched on har.com for 701 Bering, found several.  Not bad, very nice setting indeed.  Although I'd like to avoid the traffic mess that is Uptown, plus that's out of my price range.  Know of any others that aren't as pricey?

<{POST_SNAPBACK}>

Well, thats tough. The only others that I can think of off the top of my head and are cheaper are on commonwealth between west grey and westheimer. They go for more in the $120-130k range, have a small personal greenspace in back, but its a open air communal parking lot... one of those pebblestone parking lots (early eighties). I love the neighborhood.

See if I can find it on har.....

HAR Link

Oh yeah andjust a short walk to Rudyards. Thats gotta be worth somethin...

[jm1fd]

sounds like you are more in the market for a house in the burbs than a condo!

<{POST_SNAPBACK}>

I like the no/low maintenance aspect of a condo, and really don't need a whole lot of living space, but it seems like, yes, my needs would be better served by SFR, even if it does mean more maintenace and more living space. As for suburbia....if I worked in suburbia, then I'd be more than happy to live out there....but I refuse to have over a 20 minute commute.

[jt16]

HOA fees are a huge turnoff for me. Most of the "apartment style" or highrise condos have exorbitant fees that really take away the own vs. rent advantage that exists in the market right now.

[rps324]

I like the no/low maintenance aspect of a condo, and really don't need a whole lot of living space, but it seems like, yes, my needs would be better served by SFR, even if it does mean more maintenace and more living space.  As for suburbia....if I worked in suburbia, then I'd be more than happy to live out there....but I refuse to have over a 20 minute commute.

<{POST_SNAPBACK}>

It's so easy to get lawn people to take care of your yard cheap, I certainly wouldn't let that rule you out of a single family house. Of course there are a host of other maintenance issues beyond cutting the grass in homes vs. condos. With searching for condos though you have to make sure the owner occupancy rate is high, and that no one investor owns more than 10% of the units, or it makes it much more difficult to get financing. Plus the monthly maintenance fees on some can be pretty outrageous.

If you go on www.har.com try looking up under condos 2412 Whitney, its a townhome that might work.

If you would consider SFR---

In single family under $150k, inner-loop north there are currently some options available in Lindale Park, and just barely outside the loop in Oak Forest and Shepherd Forest.

Southeast you can get something good inside the loop right now in Idylwood or Houston Country Club for under $150k. Great little neighborhoods! At the loops edge in Glenbrook all day long.

[MidtownCoog]

I think some of y'all are confusing town homes with condos.

If you want a patio, get a town home.

That being said, there are plenty of Perry's in Midtown with no patio, or balcony.

Who in the world would buy that?

[The New Juniper]

I think some of y'all are confusing town homes with condos.

If you want a patio, get a town home.

That being said, there are plenty of Perry's in Midtown with no patio, or balcony.

Who in the world would buy that?

<{POST_SNAPBACK}>

Agreed. Condo to me is 60+ units contained within the same building that share common area facilities. As far as price, it is my guess that the most "affordable" condos in the downtown market in the next 24 months will be $250K. Which, when taken in context, is very cheap for ownership in a CBD of a large city.

Who knows if Houston will ever get it?

HOA fees, obviously depending on purchase price, in the $300-$400 per month range seems reasonable to me. However, I would want very nice facilities including work out room, nice green space and ample parking.

[Lowbrow]

To me Town Home is a more specific term. Condo just means your place is connected to others and you share some amenities. Pretty general term.

[RayLSU]

I think some of y'all are confusing town homes with condos.

If you want a patio, get a town home.

That being said, there are plenty of Perry's in Midtown with no patio, or balcony.

Who in the world would buy that?

<{POST_SNAPBACK}>

1/2 of my block is Perry and every one of the townhomes has a patio (La Branch near Hadley). About 1/2 have a small balcony and a patio, but the balcony is very small. My brother also has a Perry townhome in Midtown near Tuam/Austin and he has a nice balcony, but no patio. It really depends, but you normally get one or the other (within reason).

[rps324]

I think some of y'all are confusing town homes with condos.

If you want a patio, get a town home.

That being said, there are plenty of Perry's in Midtown with no patio, or balcony.

Who in the world would buy that?

<{POST_SNAPBACK}>

the two categories are not mutually exclusive.

[dalparadise]

In a condo, you own an "air lot," meaning the space in your unit, but not any land. A townhouse is very similar to a single family residence with a zero lot line. You actually own the land it sits on, though you may share one or more walls with other owners. Many townhouses begin with little or no HOA fees, which lasts until a comon roof or siding needs replacing. Then, the owners usually get together and form an association to pay for those and future repairs. Any townhouse development that is gated or has any external lighting metered seperately will have at least a minimal monthly fee attached to it. In any case, these fees are non negotiable and are part of the mortgage contract. You may lose rights for non-payment. So, they're very similar to homeowners' associations in the suburbs.

All condos will have a maintenance fee to pay for building upkeep, electricity in comon areas, etc. Often, it is very expensive. There are condo buildings in Houston whose monthly maintenance fees are larger than the mortgage payment it takes to buy the unit.

The other option is Co-ops. Houston doesn't have any of these that I know of, though they're very popular in NY, Chicago and elsewhere. In this case, you essentially own "stock" in a building and may vote your number of shares. You are charged a percentage equal to your stake in the building for upkeep, but you don't actually own any property. You merely have rights to a space in a commonly-held building. Co-op boards are like private clubs. They can restrict who's in or out, without regard to all the equal housing regulations others must follow.

Hope these distinctions clear up some misconceptions.

[MidtownCoog]

you normally get one or the other (within reason).

Agree. But the stretch on Tuam between Jackson and Crawford has a number of units with neither.

Same with the Perry block on Dennis. Nada.

But these were some of the first Perry units.

[The New Juniper]

The other option is Co-ops. Houston doesn't have any of these that I know of, though they're very popular in NY, Chicago and elsewhere. In this case, you essentially own "stock" in a building and may vote your number of shares. You are charged a percentage equal to your stake in the building for upkeep, but you don't actually own any property. You merely have rights to a space in a commonly-held building. Co-op boards are like private clubs. They can restrict who's in or out, without regard to all the equal housing regulations others must follow.

Thank you for this info.

I heard that co-ops were against Texas State law. Do you have any further info on these?

[dalparadise]

Thank you for this info.

I heard that co-ops were against Texas State law. Do you have any further info on these?

<{POST_SNAPBACK}>

I don't believe they are illegal here, but as I said, I don't know know of any in Houston. They're like country clubs in terms of how people apply to get in and are voted upon. The rights we all assume we have in finding a home don't seem to apply to these "private companies".

[largeTEXAS]

I will buy one of your condos if it:

is high quality,

looks like this:

or this:

is priced under $250,000

and is either in Midtown or downtown

[UrbaNerd]

Maybe the first, but not the second.

I was thinking more of:

These 2 are from the game SimCity4: Rush Hour(expansion pack).

[editor]

I will buy one of your condos if it:

is high quality,

looks like this:

That building is Skybridge, and the freeway running in front of it is I-90/I-94 in Chicago. The image has been Photoshopped quite a bit. It is far less colorful in real life, even at sunset. It's mostly just plain white, and most people never see it. It's set back from the rest of the skyscrapers in the city in a marginal neighborhood (think Midtown Houston ten years ago) where the mayor wants to build a casino to revitalize the area.

Here's a more realistic photograph:

Still, it has something that many high-rise condo owners crave: A view. It's what makes living at Post Midtown Lofts bearable. "Sure they cost a fortune, but look at the view!" Or in the case of Dakota Lofts, "Sure it's noisy and infested with roaches and homeless people, but look at the view!" Or in the case of the Rice Lofts, "Sure they're small, but look at the view!"

There's an old New York real estate joke that goes along the same lines.

[largeTEXAS]

Well, as long as the condos aren't FAUX-anything, then I'll be ok. None of that Randall Davis Metropolis crap or fake Spanish Villa style please. Look to the new condos on Montrose just north of Gray for inspiration. Those things are actually looking pretty darn good.

BTW - If anyone here could pull off anything close to as cool as the second pic (the Yerba Buena lofts in San Francisco), I'd have to buy at least two...

[Parrothead]

Legally, a condominium only means that you own "air" and a tiny fraction of the common space. For instance, I live in a condo. I do not own this section of the building--I own the "air", IOW, the unit inside the building. I also own a tiny segment of the greenspace, stairwell, and sidewalk. About 1/16th of it, anyway.

A townhome generally is called "fee simple", which means the owner actually owns the land underneath the townhome as well as the actual townhome itself.

That's about the only difference between a condo and an actual townhome. Most townhomes in Houston are fee simple and are not considered condominiums.

Don't let HOA dues scare you away from owning a condo. You pay that and sometimes more in a Single Family Home. We pay $311 for our 3 br/2 ba association dues, but we get a LOT for that, including commercial electric rates, free cable, free hot water, garbage pick-up and sewage, armed security (off-duty sherriff's deputy) and the property is taken care of beautifully. If we had a house we'd be paying $100 or more for lawn care, well over $200 a month for electricity, and another $30-$50 per month for annual HOA dues in whatever subdivision we choose...not to mention garbage/water/sewer, and house maintenance (roof, siding, etc).

While eventually I do want a house of my own, it's nice right now to not spend our Saturdays mowing grass or getting our roof fixed, etc...someone else does all that for us.

[uncertaintraveler]

We pay $311 for our 3 br/2 ba association dues, but we get a LOT for that, including commercial electric rates, free cable, free hot water, garbage pick-up and sewage, armed security (off-duty sherriff's deputy) and the property is taken care of beautifully.

<{POST_SNAPBACK}>

For a 3br condo, $311 seems to be on the low side on the fee range. From what I've seen, most condos (albeit new condos) are in the $0.22 to $0.24 per sq foot range, which equals around $300 for a 1300 sq. ft place.

To me, when you add the basic mortgage, the property taxes (which I find to be outrageously high), the insurance premiums, and the condo fees, owning a condo in today's environment makes very little economic sense compared to renting, especially if you believe: (i) that the housing market is already overvalued; (ii) that way too many people have adjustable rate mortgages they won't be able to afford as interest rates creep upward; and (iii) condos can be difficult to unload when you want to move.

Also, I think people (and most certainly relators and condo developers) tend to overestimate the value received from the condo fee in comparison to what one might otherwise pay if they lived elsewhere. For example, my mother's subdivision requires a $40 monthly HOA fee, which pays for all lawn upkeep. Add in her satellite tv ($40), her electric bill (around $45), and water/trash/sewer (around $35), and you are at $160 a month....I don't know what her security system monitoring runs, but I'm pretty sure that at the end of the month, she hasn't spent anywhere near what the equivalent amount charged as a condo fee would be.

[Parrothead]

Owning is always better than renting. Always, always, always. I cannot stress that enough. Even if you have the crappiest house on the crappiest street, if you own it, it's always better than renting.

If your mom's electric bill is $45 and she lives in a house, well I'd like to know where she lives. That's truly astounding. Is she in a retirement/senior living patio home area where lawn maintenance is included? If so she has it pretty good if she's paying $160 at the minimum. My guess would have been closer to $250 with everything she would need to live in a decent subdivision.

Remember, one of the most important things about living in a condo that you pay for is convenience. The convenience of not having to worry about your yard, your siding, your roof--it's nice. Your mother may go along just fine at $160 a month, but what happens when her roof needs replacing or her siding is falling off? What happens when her pipes bust in her house or her driveway needs replacing or repairing? How about painting, cleaning gutters, pest control, foundation issues? They add up over the years.

I don't think I've overestimated any part of what we get here in Georgetown. I was honest and upfront, and I'm like that with my clientele as well (I'm an agent), so I am going to have to respectfully disagree with you on that one.