Calgary Construction XXVI

[Suburgatory]

Originally Posted by dg66

I was wondering why you never posted a pic of the outside. I'm guessing it's because this is the outside.

Ceilings.

[Suburgatory]

Originally Posted by thegoodlife

Looking at the same realty website that Western Spaghetti was using I see that if you bump the price range from 400-450 up to 450-500K, you can get up into another tier of housing and it's still far, far cheaper than those Altadore rowhomes.

These are also in the northwest (I know some people have a thing against the northeast.

Evanston




Hansen's Ranch




Sherwood
(Pic from the basement) One of the great things about not living in an apartment)




Tuscany

Why didn't you post the pictures of the garage. Bad Grizzly really wants to see them.

[Bad Grizzly]

You managed to find a place vaunt/loft ceilings in the Beltline, but we all know that’s not the norm. I wonder if you could 3 or 4 others for that price range in the Beltline? I’m betting no.

You can find hundreds out in the suburbs very quickly and easily.

Originally Posted by Suburgatory

Those ceilings are 8'.

Too damn easy.

[suburbia]

Originally Posted by Suburgatory

Those ceilings are 8'.

$499,900

https://www.realtor.ca/real-estate/20167...1-638-11-av-sw-beltline-calgary-beltline

Too damn easy.

In KW's defense, it is a reasonable unit. Still doesn't float my boat because you do not own the land, the price per sf is high IMHO, must pay condo fees that never go away and always come with risks of mismanagement and special assessments. The land part is critical if you are working to build up your net worth so that it doesn't wear away with annual inflation.

Couple of interesting things I found from the statistics page on that property (which provides details on the folks who live in the immediate area):

• 78% do not have children
• 54.3% of families make less than $60K gross income annually (equates to less than two incomes bringing in minimum wage)
• 21% unemployment rate!!!!

[suburbia]

There are some surprisingly low prices in the inner city, but you really need to check all the details.

Here we have a tired looking 867sf 1 bed 1 bath unit with a parking spot selling for $140K. While it does look tired, you get the impression that the price is discounted beyond that. Then you look at the HOA - it is $779 per month / $9,348 per year!!! Whaat? That's more than the mortgage payments!

https://www.realtor.ca/real-estate/20170...-1202-13-av-sw-beltline-calgary-beltline

[SteveP]

It shows well in the interior pics, but that’s about as good as you’ll get in the Beltline for that money. Part of the reason the price is semi-reasonable, is the location, also the building is not very nice. Aside from poor curb appeal, right behind the building is that ever so vibrant Beltline bottle depot. Essentially you’d be buying a fire hydrant, with the building to be urinated on regularly. Given how close it is to the Shumir centre, also expect needles around the building.

Originally Posted by Suburgatory

Those ceilings are 8'.

$499,900

https://www.realtor.ca/real-estate/20167...1-638-11-av-sw-beltline-calgary-beltline

Too damn easy.

[Corndogger]

Originally Posted by suburbia

There are some surprisingly low prices in the inner city, but you really need to check all the details.

Here we have a tired looking 867sf 1 bed 1 bath unit with a parking spot selling for $140K. While it does look tired, you get the impression that the price is discounted beyond that. Then you look at the HOA - it is $779 per month / $9,348 per year!!! Whaat? That's more than the mortgage payments!

https://www.realtor.ca/real-estate/20170...-1202-13-av-sw-beltline-calgary-beltline

HOA? I've never seen that acronym before.

[speedog]

Originally Posted by Corndogger

HOA? I've never seen that acronym before.

You've got to get out more, HOA is a term that's been around for quite a while.

[SteveP]

Originally Posted by Corndogger

HOA? I've never seen that acronym before.

They should rename HOA to BOCA (Bend Over Condo Owners)

[SteveP]

Originally Posted by speedog

You've got to get out more, HOA is a term that's been around for quite a while.

Um, you might need to get out more. He was joking around. Because he owns a single-family home, he’s never had to deal with HOA fees.

Did you hear the joke about the roof?

[Corndogger]

Originally Posted by speedog

You've got to get out more, HOA is a term that's been around for quite a while.

Thanks for the non answer. Do you know about every acronym even if they've been around for ages?

[Western Spaghetti]

Originally Posted by speedog

You've got to get out more, HOA is a term that's been around for quite a while.

Or you could just explain what they are instead of being a dick.

HOA Home Owners Association. HOA fees are condo fees, sometimes also called strata fees.

[Suburgatory]

Originally Posted by Corndogger

HOA? I've never seen that acronym before.

1. highlight
2. right click
3. Search Google for "HOA"

simple

[Suburgatory]

Originally Posted by Western Spaghetti

Or you could just explain what they are instead of being a dick.

HOA Home Owners Association. HOA fees are condo fees, sometimes also called strata fees.

Don't be obtuse. He knows exactly what HOA stands for.

[suburbia]

Originally Posted by Western Spaghetti

HOA Home Owners Association. HOA fees are condo fees, sometimes also called strata fees.

Thanks Western Spaghetti. I didn't know what it was either and am happy Corndogger asked the question. I just saw on the Realtor.ca link that HOA was X amount monthly and so used the same word without known more details.

Originally Posted by SteveP

They should rename HOA to BOCA (Bend Over Condo Owners)

That's funny and sad at the same time. Yeah, with that one $140K unit that had $719 HOA per month, they were indeed looking to corndogger any new unsuspecting owner LOL!

Oh, and LOL means Laugh out Loud

[Corndogger]

Originally Posted by suburbia

Thanks Western Spaghetti. I didn't know what it was either and am happy Corndogger asked the question. I just saw on the Realtor.ca link that HOA was X amount monthly and so used the same word without known more details.



That's funny and sad at the same time. Yeah, with that one $140K unit that had $719 HOA per month, they were indeed looking to corndogger any new unsuspecting owner LOL!

Oh, and LOL means Laugh out Loud

I never saw the term HOA used on that page. I believe it said "Maintenance Fees" which is a really weird term to use for condo fees. I'm well aware of how condos work--I've lived in one for 20 years now. Condo fees cover common utilities, operating expenses and reserve fund expenses. If that place has fees of over $700/month there must have been a lot of mismanagement early on and now they're trying to build up their reserve fund to help pay for huge expenses which are likely coming up very soon.

[accord1999]

Originally Posted by Western Spaghetti

HOA Home Owners Association. HOA fees are condo fees, sometimes also called strata fees.

Though a lot of communities now have mandatory fees as well to pay for the community facilities and parks. IE Cranston:

https://cranstonra.ca/membership-information/

[accord1999]

Originally Posted by suburbia

https://www.realtor.ca/real-estate/20170...-1202-13-av-sw-beltline-calgary-beltline

I've been scraping listing data and this property has gone through a number of price cuts; from $174,500 to $169,500 on July 20, to $154,000 on August 1 to $149,500 in early September, and relisted on December 8 at the current price. Since it's been at this price for over 2 months, people must have concern about the fees and probably will need further price reduction if it has any hope of selling.

[Suburgatory]

Originally Posted by SteveP

They should rename HOA to BOCA (Bend Over Condo Owners)

How much do you spend per month on natural gas? $75+/-?

How much do you spend per month on water? $40+/-?

How much do you spend per month on wastewater/drainage? $55+/-?

How much do you spend per month on waste & recycling? $25+/-?

How much do you spend on insurance? 3 times that of a condo?

How much do you pay for your alarm system?

How much $ and time do you spend on lawn care, snow shoveling, yard maintenance?

How much did your lawnmower, snow shovel, rake, leaf blower, broom, etc. cost? How much did you pay for space to store it?

How much did your fence cost? How much will it cost to regularly stain or paint?

How much do you spend on furnace, hot water heater, water softener and other maintenance?

How much will it cost to repair and maintain the rest of your exterior?

Your roof is going to cost $10k minimum to replace.

How much does your elevator cost to maintain? Don't have one? Hmmmm

When you go away the person you keep asking to take in your mail and check on your house hates you.

A few hundred a month in condo fees ain't looking so bad.

[jc_yyc_ca]

HOA is more of an American term. Sometimes it’s used here in Canada, as witnessed by the realtor ad in suburbia’s post, but most people here in Canada simply say condo fees. Usually the fees cover water, heating and shared amenities like a gym. Sometimes they cover electricity, but not very often.

The thing people need to remember about condo fees is that you will pay them forever. And the other thing to be aware of is that condo fees usually go up, they never go down. If the building is charging $779 for condo fees now you could easily be paying 1000 in the future.

Originally Posted by Western Spaghetti

Or you could just explain what they are instead of being a dick.

HOA Home Owners Association. HOA fees are condo fees, sometimes also called strata fees.