If you're so rich that money doesn't matter - then obviously, you just buy whatever you like without
worrying about the hidden costs.
If money does matter, or if it will take all you have to swing the deal, think again. Rather than what
you think you're buying: a home that you don't need to do any upkeep on (because that's all the
responsibility of the HOA), you'll likely discover at the worst possible time that: most HOA's are
seriously under funded (inadequately reserved), many if not most are built with defects that later
cause hugely expensive repairs, litigation or not, you could be in for a Special Assessment which
is no insurable (sky's the limit - $39K for us now), most people refuse to serve on the Board, and
those who do probably won't please you with their choices.
We love our house, but it's been a financial nightmare. Lot's of extra stress. No way to solve some
common problems, because they come from Common Area beyond our control. Consider this the
executive summary of the book I want to write on this subject.
Make no mistake buyers, even if the seller pays for the buyer agent commission you are hiring someone to trust with what is likely a huge investment. Don't do it lightly. Make sure your agent/broker is experienced, knowledgeable, reputable, and available.
Lance King/Owner-Managing Broker
I remember coming inside our 1st house and thinking: "The ceiling is too low".
But, the price was right, location was great, so I let my husband talk me into buying
that home. He loved it, but I was not in love. It was a purely rational decision for me.
Well, every day after the closing, I'd wake up and look at the ceiling that was hovering above me,
and think the same thing: "It's too low!"
So, we sold that house 2 years after, and got the one with higher ceilings, lighter, brighter and overall better. Both of us loved that 2nd home.
What I have learned from this experience: If you don't like something about the house that can't be changed later on - don't buy it, and make sure that all purchasers are genuinely happy with the property.
Hope this helps,
Beachfront Realty, Inc.