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Discussion Groups: Home maintenance, renovations


Topic: Condos
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fuzzybunny

4/21/2017 8:31:55 AM
Member since:
Mar 2010
Total posts:16
Condos

Wondering if there are any condos in Brandon that are more private than the "condo villages". We like the idea of a condo but do not like losing our privacy.  
Also, what are the pros and cons of living in a condo?

hisluvmonkey

4/21/2017 10:00:35 AM
Member since:
Oct 2009
Total posts:1010
Brandon condo listings

You can go to breb.mb.ca and filter by "condo", it will show you all the condos currently on mls in Brandon. As you go up in price you will notice you get more space and potential privacy. Also, you can get your realtor (if you haven't got one, I like Murray McLeod at Royal LePage 725-8800) to set you up on a "portal" to get a regular email list of all condos on mls, plus updates as new listings go on.  
 
As far a pros and cons-do your research, don't rely on one opinion, talk to a real estate lawyer as a condo is a corporation; a legal entity that has a board of directors, financial reporting obligations, etc. Also, you still pay taxes as well as a monthly fee to maintain the "common areas" You may also pay an additional fee to keep up the reserve fund, which is like a savings account for the corporation to pay for big repairs, etc in future. There are also rules regarding pets, landscaping, even draperies, it all depends on the corporation. Do your research.

NOYB

4/21/2017 9:52:04 PM
Member since:
May 2008
Total posts:320
north hill

I think the ones beside the Northern Pines golf course are basically separate houses but condo style ownership

CG42

4/21/2017 10:07:35 PM
Member since:
Mar 2010
Total posts:404
North Hill west of 18th

I think the ones behind the old Fountain Tire are condos. They are duplex style but nothing behind them. They look pretty private

Bee...

4/22/2017 10:20:18 AM
Member since:
Mar 2011
Total posts:39
Condos

Watch the Monthly Condo Fee. They range from 150.00 to 500.00.

Grandmama

4/22/2017 10:58:27 AM
Member since:
May 2009
Total posts:449
Parking for ";toys";

Another thing to consider is if you have "toys" - boat, Sea-doo, RV, snowmobile, etc. - many condo corps have rules that you are not allowed to park these items in your driveway or on the street (and in most cases, condo driveways are not large enough and the streets are too narrow for these anyway). Definitely do all the research as mentioned in previous posts.

Grandmama

4/22/2017 10:58:31 AM
Member since:
May 2009
Total posts:449
Parking for toys...

Another thing to consider is if you have "toys" - boat, Sea-doo, RV, snowmobile, etc. - many condo corps have rules that you are not allowed to park these items in your driveway or on the street (and in most cases, condo driveways are not large enough and the streets are too narrow for these anyway). Definitely do all the research as mentioned in previous posts.  
 
Edited by Grandmama, 2017-04-22 10:59:02

Grandmama

4/22/2017 11:45:51 AM
Member since:
May 2009
Total posts:449
Sorry for the duplicate post

- not sure what happened!

Blade

4/22/2017 4:56:09 PM
Member since:
Apr 2008
Total posts:516
Condo fees

I wouldn't touch a condo. I have a friend in Winnipeg who lives in an apartment type condo (40 years old) on the 4th floor, south of the perimeter on Pembina. Condo fees are $495 a month and taxes $250 mthly. I think they will creep up that high here eventually if they haven't already.

wgabe

4/22/2017 5:40:37 PM
Member since:
Mar 2009
Total posts:254
sent

I sent you a PM, check your in box.

CG42

4/22/2017 5:52:07 PM
Member since:
Mar 2010
Total posts:404
But this is not Winnipeg

  
Blade said "I wouldn't touch a condo. I have a friend in Winnipeg who lives in an apartment type condo (40 years old) on the 4th floor, south of the perimeter on Pembina. Condo fees are $495 a month and taxes $250 mthly. I think they will creep up that high here eventually if they haven't already. "

Not sure what your point is. This is Brandon not Winnipeg. Most condos I have just looked up in Brandon range from $150 to $250 for condo fees with the latter having more facilities like swimming pools or community centres and property taxes are payable whether a house or a condo. Not having to worry about outside maintenance - grass cutting, snow removal etc is an ideal situation for a lot of people. Obviously not you and that's ok.

Blade

4/22/2017 7:27:48 PM
Member since:
Apr 2008
Total posts:516
**

  
CG42 said "
  
Blade said "I wouldn't touch a condo. I have a friend in Winnipeg who lives in an apartment type condo (40 years old) on the 4th floor, south of the perimeter on Pembina. Condo fees are $495 a month and taxes $250 mthly. I think they will creep up that high here eventually if they haven't already. "

Not sure what your point is. This is Brandon not Winnipeg. Most condos I have just looked up in Brandon range from $150 to $250 for condo fees with the latter having more facilities like swimming pools or community centres and property taxes are payable whether a house or a condo. Not having to worry about outside maintenance - grass cutting, snow removal etc is an ideal situation for a lot of people. Obviously not you and that's ok. "

My point is the fees continually rise and apparently so when the building gets older. These fees did not start out at $495 they just keep creeping up. The ones you mention of being $150 to $250 will continue to rise. These fees are more than if you had purchased a house and paid someone to mow the grass or remove snow. You are right the ideal situation for me is home ownership but not as a condo,and no I am not going to debate maintenance costs with you.

Fishin Guy

4/22/2017 9:57:11 PM
Member since:
Dec 2005
Total posts:5800
...

  
Blade said "
  
CG42 said "
  
Blade said "I wouldn't touch a condo. I have a friend in Winnipeg who lives in an apartment type condo (40 years old) on the 4th floor, south of the perimeter on Pembina. Condo fees are $495 a month and taxes $250 mthly. I think they will creep up that high here eventually if they haven't already. "

Not sure what your point is. This is Brandon not Winnipeg. Most condos I have just looked up in Brandon range from $150 to $250 for condo fees with the latter having more facilities like swimming pools or community centres and property taxes are payable whether a house or a condo. Not having to worry about outside maintenance - grass cutting, snow removal etc is an ideal situation for a lot of people. Obviously not you and that's ok. "

My point is the fees continually rise and apparently so when the building gets older. These fees did not start out at $495 they just keep creeping up. The ones you mention of being $150 to $250 will continue to rise. These fees are more than if you had purchased a house and paid someone to mow the grass or remove snow. You are right the ideal situation for me is home ownership but not as a condo,and no I am not going to debate maintenance costs with you. "

That is what people fail to realize. Sure it sounds cheap now. Give it 15-20 years or less. The condo association will need to top up the fund and increase rates. My sister in Alberta got screwed like that. One year it snowed a lot eating up the budget, then all the buildings shingles needed replacing, plus in the same period all the water tanks were replaced. They owed many many thousands that were to be paid right now or financed through the board costing thousands extra in interest fees. Who sits on 5-10 thousand just in case the condo board needs a top up?

Bob George

4/23/2017 12:35:22 AM
Member since:
Oct 2009
Total posts:467
...

  
Fishin Guy said "
  
Blade said "
  
CG42 said "
  
Blade said "I wouldn't touch a condo. I have a friend in Winnipeg who lives in an apartment type condo (40 years old) on the 4th floor, south of the perimeter on Pembina. Condo fees are $495 a month and taxes $250 mthly. I think they will creep up that high here eventually if they haven't already. "

Not sure what your point is. This is Brandon not Winnipeg. Most condos I have just looked up in Brandon range from $150 to $250 for condo fees with the latter having more facilities like swimming pools or community centres and property taxes are payable whether a house or a condo. Not having to worry about outside maintenance - grass cutting, snow removal etc is an ideal situation for a lot of people. Obviously not you and that's ok. "

My point is the fees continually rise and apparently so when the building gets older. These fees did not start out at $495 they just keep creeping up. The ones you mention of being $150 to $250 will continue to rise. These fees are more than if you had purchased a house and paid someone to mow the grass or remove snow. You are right the ideal situation for me is home ownership but not as a condo,and no I am not going to debate maintenance costs with you. "

That is what people fail to realize. Sure it sounds cheap now. Give it 15-20 years or less. The condo association will need to top up the fund and increase rates. My sister in Alberta got screwed like that. One year it snowed a lot eating up the budget, then all the buildings shingles needed replacing, plus in the same period all the water tanks were replaced. They owed many many thousands that were to be paid right now or financed through the board costing thousands extra in interest fees. Who sits on 5-10 thousand just in case the condo board needs a top up? "

It's no different than owning a house. If you need your shingles or hot water tank replaced in your house, how would you pay for it. Same thing with the condos.  
 
It's a home, there will be costs. If you don't want to maintain a home, I would suggest renting.

Fishin Guy

4/23/2017 7:18:36 AM
Member since:
Dec 2005
Total posts:5800
....

I got no problems paying for maintenance on my house. Hot water tank was 250 bucks. New shingles when the time comes will put be back just under 3 grand. To ask someone for 10 grand plus paying condo fees is huge. And this was for an apartment turned condos so there was no pool or anything. There was a weight room. She sold pretty fast after that stint and bought a house. Was much cheaper. The thing is I priced grass and snow removal at 100 a month. That using 200 a month in condo fees leaves 100 a month into my own account. Over the last 10 years that is 12 grand left in my own pocket and not some association pocket. Now since I cut and shovel myself that is another 12 grand that I have saved. If developers were to build the 250 grand houses not condos people would buy them up. Seems that you can't get a new home for less than 350-400 thousand mark so people if wanting a new home are forced to buy old homes or condos.

Alrighty then

4/23/2017 8:54:35 AM
Member since:
Apr 2014
Total posts:75
Condo is not for everyone

Shingle replacement would come out of the reserve fund that a portion of each months condo fee goes in to and is required and regulated by legislation, the Condo Act. Hot water takes, as previously discussed is up to each individual condo owner and would NOT come out of the reserve fund or have the entire condo development replace at once. They are no cheaper than owning a house but are great for those that don't want to mow grass or shoevel snow or go away for the winters. The problem I have with condos is the lack of privacy and parking. Most developments squeeze far to many units into a small space. When you come outside you have neighbors everywhere. Like I said, it's a personal thing, some love it and others don't.

Bob George

4/23/2017 1:56:24 PM
Member since:
Oct 2009
Total posts:467
...

  
Fishin Guy said "I got no problems paying for maintenance on my house. Hot water tank was 250 bucks. New shingles when the time comes will put be back just under 3 grand. To ask someone for 10 grand plus paying condo fees is huge. And this was for an apartment turned condos so there was no pool or anything. There was a weight room. She sold pretty fast after that stint and bought a house. Was much cheaper. The thing is I priced grass and snow removal at 100 a month. That using 200 a month in condo fees leaves 100 a month into my own account. Over the last 10 years that is 12 grand left in my own pocket and not some association pocket. Now since I cut and shovel myself that is another 12 grand that I have saved. If developers were to build the 250 grand houses not condos people would buy them up. Seems that you can't get a new home for less than 350-400 thousand mark so people if wanting a new home are forced to buy old homes or condos. "

Condo fees at many places in Brandon i:nclude:  
- home insurance on the base unit  
- water bills including lawn sprinklers  
- full lawn service (cut, spray, fertilize)  
- snow removal  
- use of pool and gym  
- exterior maintenance  
- management of the above services  
- Annual audits of the condo board books (as mandated by the province)  
- Reserve fund studies every 3 years, as mandated by the province  
 
Additionally, a portion of the condo fees are directed into reserve funds to ensure that the condo owners "save" up for future maintenance repairs. Since condo corps cannot borrow money to pay for maintenance, these reserve funds are truly savings accounts which should pad the owners from one time high cost repairs (such as your cousin was asked for).

 
 
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