March Chat Thread - Choose Your Own Chat - The Something Awful Forums

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bolind: Jun 19, 2005; Pillbug

Condo ownership can be pretty rad. It can also be a giant pain in the rear end.

There's only one person to pay for poo poo, and there's a picture of him above the sink in the bathroom. If the roof blows off, someone sues you and you need X hours of lawyer, city barges in and demands you fix the sewers/establish green energy/do backflips for an hour, there's always only one place the money can come from, and it's the owners.
HOA/condo board can be a pain in the rear end. The batshit insane scare away the few good people, and don't even begin to think about how much poo poo hinges on finding competent people to work for free and get poo poo done in time.
There's probably property taxes. They're probably only going one way.
There's a bunch of stuff you're likely to have to maintain yourself.
Your neighbours might be shitheads, or worse, shithead tenants.
Selling it again might be hard/expensive/a pain in the rear end.

That being said, you can usually remodel the interior just as you'd like, and if you pay down the mortgage that's money straight towards your net worth. And if real estate is going up, there's some good money to be made.