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Post new topic Reply to topic  [ 26 posts ]  Go to page 1, 2  Next
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 Post subject: Condos on PEI
PostPosted: July 19th, 2008, 1:19 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
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?


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 Post subject:
PostPosted: July 19th, 2008, 2:18 pm 
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Almost an Islander

Joined: March 3rd, 2007, 3:00 pm
Posts: 275
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?


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 Post subject:
PostPosted: July 19th, 2008, 2:29 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
I don't know, I wonder about that also.


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 Post subject:
PostPosted: July 19th, 2008, 2:35 pm 
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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:


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 Post subject:
PostPosted: July 19th, 2008, 3:11 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
Here is a link to some other condos in Charlottetown: http://www.oniproperties.com/home.php?page=opening


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 Post subject:
PostPosted: July 19th, 2008, 4:18 pm 
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True Islander

Joined: September 22nd, 2005, 1:43 pm
Posts: 6517
good gawd. Look like it's a few more years of trailerhood for me!


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 Post subject:
PostPosted: July 19th, 2008, 4:38 pm 
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True Islander
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Joined: May 4th, 2008, 2:13 am
Posts: 6461
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


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 Post subject:
PostPosted: July 19th, 2008, 4:44 pm 
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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.


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 Post subject:
PostPosted: July 19th, 2008, 6:26 pm 
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True Islander

Joined: September 22nd, 2005, 1:43 pm
Posts: 6517
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


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 Post subject:
PostPosted: July 19th, 2008, 6:32 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
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.


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 Post subject:
PostPosted: July 19th, 2008, 7:58 pm 
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Joined: December 2nd, 2007, 3:30 pm
Posts: 1455
Location: Charlottetown
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..


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 Post subject:
PostPosted: July 19th, 2008, 8:30 pm 
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True Islander

Joined: September 22nd, 2005, 1:43 pm
Posts: 6517
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.


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 Post subject:
PostPosted: July 19th, 2008, 8:54 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
Thanks Sock. I plan on moving in the spring when I have a downpayment. I will keep that in mind of the rules.


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 Post subject:
PostPosted: July 19th, 2008, 9:00 pm 
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True Islander
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Joined: May 4th, 2008, 2:13 am
Posts: 6461
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)


Last edited by betamaxman on July 19th, 2008, 9:02 pm, edited 1 time in total.

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 Post subject:
PostPosted: July 19th, 2008, 9:00 pm 
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True Islander

Joined: September 22nd, 2005, 1:43 pm
Posts: 6517
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


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 Post subject:
PostPosted: July 19th, 2008, 9:47 pm 
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Member
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Joined: November 2nd, 2003, 12:05 pm
Posts: 1053
Location: Canada, eh?
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.

_________________
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Wa Waa Waaa.... He called me a whiner!! Waaaahahaaaaa!!


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 Post subject:
PostPosted: July 19th, 2008, 9:50 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
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.


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 Post subject:
PostPosted: July 19th, 2008, 10:10 pm 
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True Islander

Joined: September 22nd, 2005, 1:43 pm
Posts: 6517
They sell quickly, ours was on the market for less than a week, same with one up the road from us.


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 Post subject:
PostPosted: July 19th, 2008, 10:13 pm 
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True Islander

Joined: January 12th, 2006, 8:04 pm
Posts: 4437
Well if you see anymore please let me know :)


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 Post subject:
PostPosted: July 19th, 2008, 10:14 pm 
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True Islander

Joined: September 22nd, 2005, 1:43 pm
Posts: 6517
Will do


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