jgriff Posted February 16, 2009 Share Posted February 16, 2009 I'm in the market for a larger place and being a fan of MCM I've always been interested in 5050 Woodway. Does anyone know anything about this building? I don't know anything about it other than what has been shown in listings in HAR over the years. The maintenance fee seems to be very low for a high rise. That kind of scares me. I wonder if the maintenance on the building is being done as it should be.Current Listing in 5050 Woodway 1 Quote Link to comment Share on other sites More sharing options...
sevfiv Posted February 16, 2009 Share Posted February 16, 2009 Definitely call and see what that ~$120/month goes toward.Interesting building and decent interior, though... Quote Link to comment Share on other sites More sharing options...
missjanel Posted February 16, 2009 Share Posted February 16, 2009 You should definately call to confirm but based on previous listings that have sold in the same building I'm pretty sure it's a mistake on the agents part. It's likely $1453 monthly, not annually.I'm in the market for a larger place and being a fan of MCM I've always been interested in 5050 Woodway. Does anyone know anything about this building? I don't know anything about it other than what has been shown in listings in HAR over the years. The maintenance fee seems to be very low for a high rise. That kind of scares me. I wonder if the maintenance on the building is being done as it should be.Current Listing in 5050 Woodway Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted February 16, 2009 Share Posted February 16, 2009 You should definately call to confirm but based on previous listings that have sold in the same building I'm pretty sure it's a mistake on the agents part. It's likely $1453 monthly, not annually.You're mistaken, no maintenance fee is more than a typical mortgage. By golly $1500/month fee is silly. Might at well be a rental unit for that much. Quote Link to comment Share on other sites More sharing options...
sevfiv Posted February 16, 2009 Share Posted February 16, 2009 That's typical for high rises - missjanel is probably right.The Lamar's maintenance fee is about $1140/month for a 1700 square foot unit, and the Huntingdon is around $2,000/month for some Quote Link to comment Share on other sites More sharing options...
jgriff Posted February 16, 2009 Author Share Posted February 16, 2009 I think the typical fee in Houston is around 40 cents a sq. ft. for high-rises. I would think this one would be at least $1000 a month. Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted February 16, 2009 Share Posted February 16, 2009 That's typical for high rises - missjanel is probably right.The Lamar's maintenance fee is about $1140/month for a 1700 square foot unit, and the Huntingdon is around $2,000/month for someIf that's true, high-rise living sucks.$7000 - $14000 for water/trash/landscaping/front desk/valet/security/common area/pool/gym. . . No thanks. Quote Link to comment Share on other sites More sharing options...
jdbaker Posted February 16, 2009 Share Posted February 16, 2009 (edited) If that's true, high-rise living sucks.$7000 - $14000 for water/trash/landscaping/front desk/valet/security/common area/pool/gym. . . No thanks.The higher maintenance figure is correct, however, it includes more than the things that you have listed. It also includes insurance, capital repairs (e.g. roof, plumbing, elevators), a reserve fund, and perhaps a doorman. It's a lot of money, but owning a single family home carries a number of hidden monthly costs as well. Edited February 16, 2009 by jdbaker Quote Link to comment Share on other sites More sharing options...
houstonartstudent Posted February 16, 2009 Share Posted February 16, 2009 The higher maintenance figure is correct, however, it includes more than the things that you have listed. It also includes insurance, capital repairs (e.g. roof, plumbing, elevators), a reserve fund, and perhaps a doorman. It's a lot of money, but owning a single family home carries a number of hidden monthly costs as well. Let's ask Suze Orman what she thinks would be the better deal... Quote Link to comment Share on other sites More sharing options...
jdbaker Posted February 16, 2009 Share Posted February 16, 2009 Let's ask Suze Orman what she thinks would be the better deal... I agree that a highrise is not a better deal. My point is that when you compare the true cost of a highrise to the true cost of owning a single family home, it's closer than it looks like it is if you were to just focus on the maintenance fee. Many, but not all, of the same costs (e.g. insurance, periodic capital repairs) are duplicated with a single single family home it's just that they are not as visible as a maintenance fee. Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted February 16, 2009 Share Posted February 16, 2009 The higher maintenance figure is correct, however, it includes more than the things that you have listed. It also includes insurance, capital repairs (e.g. roof, plumbing, elevators), a reserve fund, and perhaps a doorman. It's a lot of money, but owning a single family home carries a number of hidden monthly costs as well. Yeah, I goofed up on those two biggies. Our townhome insurance is $8000 for 10 units. . . ick. Let's ask Suze Orman what she thinks would be the better deal... I dare you to call her Saturday. She loves jackets! Quote Link to comment Share on other sites More sharing options...
kylejack Posted February 16, 2009 Share Posted February 16, 2009 She loves jackets! It would be fun to throw her a curve ball, should I buy food or a really nice jacket I have my eye on? Quote Link to comment Share on other sites More sharing options...
rbarz Posted March 19, 2009 Share Posted March 19, 2009 5050 Woodway has a large fee because it is all bills paid, including Electricity. The fee is something like $0.65 per SF. The buildings averaging $0.40 a SF do not include electricity Quote Link to comment Share on other sites More sharing options...
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