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Condos on PEI
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Author:  Aphr0dite [ July 19th, 2008, 1:19 pm ]
Post subject:  Condos on PEI

Ok, so I am looking at finally moving from where I am as my son is moving out mid August. I have been considering a condo. I like the thoughts of having an investment and no hassle of cutting grass etc.

Well holy crap, how does anyone afford such a thing?

Check out the old YMCA Condos:

www.whycondos.ca

\cheapest condos I could find was $149,000 plus monthly condo fees! That's crazy. You should see the ones priced over $400,000 here! Their condo fees are almost as much as I am paying for rent right now.

Any suggestions on what single woman who makes not bad money should do? Any nice 2 bedrooms out there?

Author:  MrCanadian [ July 19th, 2008, 2:18 pm ]
Post subject: 

I couldn't understand why they would put expensive condos in the old YMCA, it just doesn't seem like a very good area for them.

Also, can the condo monthly fee change? As in go up, or would that be stated in the contract?

Author:  Aphr0dite [ July 19th, 2008, 2:29 pm ]
Post subject: 

I don't know, I wonder about that also.

Author:  FerryRoad [ July 19th, 2008, 2:35 pm ]
Post subject: 

MrCanadian wrote:
I couldn't understand why they would put expensive condos in the old YMCA, it just doesn't seem like a very good area for them.

Also, can the condo monthly fee change? As in go up, or would that be stated in the contract?


Yes. A lot of the new builds I've looked at have pretty low condo fees to entice buyers. But nothing to stop them from upping them. And they will and do it.

My parents recently retired in Ontario. Their newish condo build has a pretty low fee of $240/month. Down the street an older build started at about the same, but is now at $450. It all goes into a condo fund for cleaning, maybe a gym, parking, snow removal and so forth, but I'd rather save my $240 to $450 each month to have money available for my own repairs or buy a snow blower.

And I was looking at condos in Fredericton and all have 'free' parking. And most charge an extra $5000 if you have 2 cars. :lol:

Author:  Aphr0dite [ July 19th, 2008, 3:11 pm ]
Post subject: 

Here is a link to some other condos in Charlottetown: http://www.oniproperties.com/home.php?page=opening

Author:  socktan [ July 19th, 2008, 4:18 pm ]
Post subject: 

good gawd. Look like it's a few more years of trailerhood for me!

Author:  betamaxman [ July 19th, 2008, 4:38 pm ]
Post subject: 

Actually a new mini home in a park is not a bad idea for someone wanting to escape from total renting., with out the upkeep of a full house We have been doing so for some time. Lot rent $100 to $120 and a tank of oil a year. 8)

http://www.trmh.com/inventorydetails.as ... d=2&id=358

Author:  FerryRoad [ July 19th, 2008, 4:44 pm ]
Post subject: 

I should have said it is $5000 to buy the parking space. NOT $5000 per year. And if you sell your condo that space is included with the unit.

Still, it may be underground, but that's a lot of money to store your winter-beater.

Author:  socktan [ July 19th, 2008, 6:26 pm ]
Post subject: 

betamaxman wrote:
Actually a new mini home in a park is not a bad idea for someone wanting to escape from total renting., with out the upkeep of a full house We have been doing so for some time. Lot rent $100 to $120 and a tank of oil a year. 8)

http://www.trmh.com/inventorydetails.as ... d=2&id=358


Yeah, it's better then renting. Being sardined in a park means I can hear my neighbor pee.

I wouldn't get that on a my own lot somewhere else. haha

Author:  Aphr0dite [ July 19th, 2008, 6:32 pm ]
Post subject: 

betamaxman wrote:
Actually a new mini home in a park is not a bad idea for someone wanting to escape from total renting., with out the upkeep of a full house We have been doing so for some time. Lot rent $100 to $120 and a tank of oil a year. 8)

http://www.trmh.com/inventorydetails.as ... d=2&id=358


I would love to do a mini home but there is a monolpoly in Charlottetown and they are not taking any new ones in. The older ones people stille xpect you to pay a new purchase price for one. I am also scared of who I would get for a neighbor and they are very close.

Author:  Janelleb001 [ July 19th, 2008, 7:58 pm ]
Post subject: 

Well. Maybe write out a list of questions and go door to door introducing yourself. Tell your 'possible new neighbours' that you would like to come in an ask them some very personal questions about their life, but it'll only take an hour of their time... lol..

Author:  socktan [ July 19th, 2008, 8:30 pm ]
Post subject: 

Aphr0dite wrote:

I would love to do a mini home but there is a monolpoly in Charlottetown and they are not taking any new ones in. The older ones people stille xpect you to pay a new purchase price for one. I am also scared of who I would get for a neighbor and they are very close.


When we looked, minimum was $100,000 for a mini home on a lot outside of Charlottetown. We paid $74,000 for a home on a lot in a park. The home was 4 years old when we bought it.

I understand your concern about unknown neighbors. The park landlord has rules and regulations which should keep most problems to a minimum.

Author:  Aphr0dite [ July 19th, 2008, 8:54 pm ]
Post subject: 

Thanks Sock. I plan on moving in the spring when I have a downpayment. I will keep that in mind of the rules.

Author:  betamaxman [ July 19th, 2008, 9:00 pm ]
Post subject: 

Our lot is roughly half that of a house in a sub division. There are even some lots with waterfront. I do not feel congested and you are still going to have neighbors in a condo. Lots do become available from time to time especially in the Hillsborough park. 8)

Author:  socktan [ July 19th, 2008, 9:00 pm ]
Post subject: 

Aphr0dite wrote:
Thanks Sock. I plan on moving in the spring when I have a downpayment. I will keep that in mind of the rules.


No trouble..

Ours even define what breeds of dogs are not allowed as pets... It's more strict than the general public. haha

Author:  Whiney Galute [ July 19th, 2008, 9:47 pm ]
Post subject: 

betamaxman wrote:
... you are still going to have neighbors in a condo.


Exactly - and the only thing separating you from them is walls and halls.

Author:  Aphr0dite [ July 19th, 2008, 9:50 pm ]
Post subject: 

I just checked MLS and there is only 7 available right now. I think the ones there are all over 10 years old and over $70,000. I will keep checking, I have until March.

Author:  socktan [ July 19th, 2008, 10:10 pm ]
Post subject: 

They sell quickly, ours was on the market for less than a week, same with one up the road from us.

Author:  Aphr0dite [ July 19th, 2008, 10:13 pm ]
Post subject: 

Well if you see anymore please let me know :)

Author:  socktan [ July 19th, 2008, 10:14 pm ]
Post subject: 

Will do

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