Comments on: repairs: 1345 w. 6th Ave

By: patriotz

patriotz — Fri, 11 Jan 2008 06:24:30 +0000

Let's see now - I buy a condo today, get a 40 year mortgage and still pay twice what it would cost me to rent the same place, pay off practically none of the principal over the next 10 years, and have no control over extraordinary expenses which I have to pay or else. Where do I sign up?

Current score: 0 (to vote for this comment, please visit the site)

By: Panda

Panda — Fri, 11 Jan 2008 05:27:42 +0000

Thanks for the info and sharing this story, exx. It is downright scary. Hope your parents' place is all good now.

Current score: 0 (to vote for this comment, please visit the site)

By: exx

exx — Fri, 11 Jan 2008 04:30:27 +0000

They sure do. Not only that, but they'll also get a ridiculous bill at the end. I think my parent's leaky condo in Coquitlam takes the cake as far as cost goes though, they were just shy of $100K to repair their townhouse. I attended some of those strata meetings and everything was just shoved down your throat, the only decisions you could make were whether to spend MORE money on decorations. Included in that price was landscaping that would make the area look wonderful. 2 years later and all I see are weeds everywhere, and tree stumps. Wonderful! The amount of work that actually went into the repairs was laughable. The $100K went towards chopping down all the previously nice bushes & trees, covering the townhouse with the green scaffolding we've all come to recognize, and repairing *2* exterior walls. Then they just replaced the stucco with the equally recognizable post-leaky-condo rainscreen exterior. OH, and overhangs of course. These repairs ate up all of the value in their townhouse, which they've owned for 15+ years, so if they were to sell now they'd break even. Ouch.

Current score: 0 (to vote for this comment, please visit the site)

By: Panda

Panda — Fri, 11 Jan 2008 03:46:26 +0000

A naive question here. Do people live in their condos while they in a conditions such as this? If so, it sure doesn't look pleasant.

Current score: 0 (to vote for this comment, please visit the site)