Thursday, June 10, 2004

would you like to comment on that?

ok ya'll.. back to the old comments system. yeah! it's so much better, no?

well, an update on the home buying front. a disappointing one, no less. i finally found a place that i fell in love with AND was well within my price range. a few outstanding amenities included the much priortized room for a pool table. maybe not an 8 footer, but hey, i'm a flexible kinda gal. a 7 footer would do me just fine.

next, the kitchen was spacious enough to fit my (small) dining table. the place had a dishwasher, new appliances (though not stainless steel, but i'm ok with that), a front balcony AND a back porch and a decent sized bedroom.

and as a finale, i'll fill you in on the most beautiful bathroom i've ever seen in my not-so-long journey of house hunting. the bathroom had white italian tiles with a few tiles of green, blue and maroon thrown in the mix with a stackable washer-dryer in the corner, a square shaped toilet seat and a corner jacuzzi tub with - get this - a rainshower head that had to be at least 12 inches in diameter that juts directly down from the ceiling. i kid you not. i've since had dreams of taking showers under that thing!

but, as all good things come to an end, so did this. i went through the whole round of offers and counter offers and the seller actually came back with a price that matched the amount i had set as a limit in my brain. but then after reading through the association's financial statements (i am after all an accountant) and their budget for next year which i got via fax after the original counter offer, and several conversations with my realtor and the building's property manager, i realized that it was not a financially sound investment. the assessments are just way too high for what i'm getting. the worst part was when i found out that they've had "special assessments" on going for the past 7 years, and will continue indefinitely because it's a really old building. now, if ya'll haven't been able to fix all you need to fix in 7 years, then damn, ya'll have some serious problems! albeit the seller was going to pay me 2.5 years worth of special assessments at closing.. but what happens after that? and when i try to sell? after the 2.5 years, i'm looking at close to $400/mo just in assessments! that's like paying rent in addition to a mortgage! not to mention 2 or 3 years down the road if i try to sell it there's no way i'll find a buyer willing to pay that much in assessments and still make a decent profit on the sale. i've been shying away from lakefront highrises for that same reason! but at least they had swimming pools and doormen and cable included!

so yeah.. i wasn't born yesterday. my realtor says i should sleep on it. and i will. but i doubt i'll change my mind.

so, my friends.. the search continues. wish me luck!