General Area in Norwalk>Question Details

Francisco, Home Buyer in echeverria

how but is dreammy holow community, why is no cheap compare with other properties, ???

Asked by Francisco, echeverria Mon Feb 11, 2008

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Dreamy Hollow is a co-op, which is more rare in CT than NY. The common charges are quite high (on average about $950/ mo) but they cover all taxes, heat, hot water, pool, garbage, and property maintenance. The benefit of a co-op is that you can write-off your common charges on your annual tax return (something you cannot do in a condo). Mortgage and common charges would average about $1600/ mo. for a 1200 sq ft. Townhouse with two bedrooms and bathroom. You will not find this kind of space and layout in Lower Fairfield County for this price. I am a resident here ten years (meaning I bought at the height of the market) and still feel it is the best investment I could have made.
0 votes Thank Flag Link Wed Oct 23, 2013
Dreamy Hollow is a co-op, it is also difficult and time consuming to be accepted by the board. The common charges can go as high, or higher than $1,200.00 per month. They include property taxes and controlled heat and hot water, as well as pool maintenance and all other expenses. There are one - three bedroom units. Some come with garages, but not always the case. You can get on a list to purchase a garage. There is no assigned parking. People that were grandfathered in may rent out their units, but there are very few of those.
0 votes Thank Flag Link Thu May 5, 2011
Dreamy Hollow is a co-op with about $850-$899 in monthly fees. You cannot rent out the properties you buy in a co-op situation and everyone who wishes to live there is interviewed by the co-op board. In a condo the common charges are much lower, ie. $100-350, based on whether it has a swimming pool, cluhouse, tennis courts etc.
If I can assist you more please call me.

Ripee Sawhney
Century 21 Landmark
Cell: 203-243-3273
0 votes Thank Flag Link Wed Apr 30, 2008
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