re: Condo’s....here in Fla condo’s are a bad word..Because when so many were blown apart by the hurricanes, the condo owners were hit with huge special assessments to replace the entire building..One high rise condo that i heard of had a special assessment of $50,000 per condo owner !..Imagine the owner who had lived there for 15 years and had paid maybe $30,000 and was maybe still paying a mortgage...They can hardly give away a condo down here...
Also, many apartment owners converted their properties to Condos and now they are converting them back to apartments because very few condo s are selling...Guess it all depends on what state you live in and your location to see if it makes sense to buy a condo...
Yikes I can imagine that scenario. You got to be carefull where you buy, that’s for sure.
Places like that you have to weigh out what insurance coverage you can get, and if it’s really worth the prestige of owning property there.
If moneys no problem, then its really not a problem, but if it’s half your retirement money, then think again. Maybe somewhere more inland near a mountain pond is a better way to go.