Sean,

We have lived in a condex for 7 years now with no problems. We have a clause in our insurance policy that covers any loss occurring from the other side. We own our own land (almost an acre) have our own separate water and utilities, and take care of our property ourselves. ie. no condo or association fees. We have more living space than a lot of single family homes and our neighbors are just that. Our neighbors. We do share the septic, but also share in the pumping fee/maintenance every two to three years. There are many different kinds of units out there, but I think you should know that it does not have to be a terrible liability. You will know what kind of neighbors you have and how responsible they are by the condition of the home and property when you look at it. Good luck.

Sean,

I am with you...putting your and my answers together...the "shared" aspect of a condex is setting oneself up for trouble. I think your answer is straight to the point.

Buddy Pope

Sean,
Don't buy a condex or a 2 unit condo. If the "co-owner" flakes out and does not pay their monthly fees you will be stuck, and, although legally recoverable, a big pain in the butt. Also, typically water and sewer will be measured for the entire home, with the association paying those bills from fees, but, if you are single and the other owner has a family of 5, guess what, you are paying a portion of their water/sewer unless you fork over a couple of thousand bucks to have separate meters. Last, if the other owers go belly up and foreclose, good luck collecting association fees from a bank! Go for a larger complex and leave the hassles to a managing agent, after all, isn't that why you want a shared situation, otherwise, buy a sfh.

I have always had the question of what happens insurancewise if a fire were to break out clearly on one side of the side to side units and bring down BOTH units...does the insurance coverage extend one side to the other. Also, the shared wall and electrical repairs how might that be handled? Also the shared roof...who negotiates and detrmines the "when" of some of these "mutual" updates to the interior or exterior?

Think of a condex, as a condo. The main difference is that there is no association. In NH a condex is usually a duplex. Two owners one for each side owwn frational interest of the homes and land and share all exterior expenses and repairs. The interiors are owned by each person with no shared interior expense.

In new hampshire it is similar to a townhouse. You own fractional parts of a home. Usually no condo fee, but all exterior maintance is shared with unit owners. If it is a duplex and the roof needed repair, the two owners would get together and fix it..

In a condo usually the exterior maintanace, insurance, snow removal etc are taken care of with the condo fee and the condo association. In a condex, you and your fellow owners take care of that.

Hope that helps

Hi Sean
Most simply put, a condex is a former 2-family home or duplex that has undergone a "condo conversion". This requires changing the deed and legal description of the property. There may or may not be a condo-association, and any rules and regulations may be listed in the condo documents (usually referred to as condo docs). Usually there is no condo fee (but always ask!) except for Master Insurance policy that will cover the insurance for the entire building. The cost of this is usually shared between the unit owners. This Master Insurance Policy would cover the building structure and liability issues on the property. Unit owner would be encouraged to get some type Tenant/Homeowner insurance to cover loss or damage of personal property Landscaping, plowing, maintenance etc. is usually taken care of by each unit owner.

I hope you find this info helpful, but if you have more questions, you're welcome to get in touch and I'll help if I can :) My website and contact info is listed below.....