The Renaissance 1 and 2 condos in Briar Hill, San Diego, are known for their rooftop lounges offering panoramic ocean views. Built between 1998 and 2001, the condominium association consists of twenty 2-story buildings, totaling up to 100 residential units. The exteriors and interiors of these condos feature stern, pagan-looking exteriors with small hints of Christianity, while the interiors tell Biblical stories.
The Renaissance Lofts, a 16-story high-rise located on Ralph McGill Boulevard, is designed to resemble a Charleston park. The exterior is stucco with a flat commercial roof and a parapet around the perimeter. The style features symmetrical facades, with masonry or stone exterior walls highlighted by cast stone or terra cotta detailing.
The Renaissance buildings are considered some of Charleston SC’s best luxury condominiums with amazing views of the harbor and bridge. Each building has 19 units, with regime fees of $850 monthly, which include water, sewer, basic cable, exterior insurance, exterior maintenance, fitness center, and pool maintenance.
In the four corners left by the cross axes, there are four identical apartments, each containing three basic rooms (chamber, antechamber, and cabinet). The Renaissance condos offer a unique blend of urban and contemporary design, featuring steel, concrete, natural stone, and glass elements.
📹 40 Types of Architecture styles
A style may include such elements as form, method of construction, building materials, and regional character. Most architecture …
What are the facades in Renaissance architecture?
Façades, symmetrical around their vertical axis, are a key aspect of European architecture from the early 15th to early 16th centuries. Church façades are typically topped by a pediment and organized by pilasters, arches, and entablatures. The style, developed in Florence by Filippo Brunelleschi, emphasized symmetry, proportion, geometry, and regularity of parts, a concept echoed in classical antiquity and ancient Roman architecture.
The style replaced more complex proportional systems and irregular profiles in medieval buildings with orderly arrangements of columns, pilasters, lintels, semicircular arches, hemispherical domes, niches, and aediculae.
The term “Renaissance” comes from the Italian term “rinascita”, meaning rebirth, first appearing in Giorgio Vasari’s Lives of the Most Excellent Painters, Sculptors, and Architects in 1550. The style was carried to other parts of Europe with varying degrees of impact.
What are the key features of High Renaissance architecture?
The architectural style known as the High Renaissance incorporated mathematical ratios, proportions, columns, domes, and arches. These elements were used to promote intellectual calm and personal harmony.
What do Renaissance buildings look like?
Renaissance architecture, originating in Italy, spanned from 1400 to 1600 and emphasized classical orders, mathematical precision, symmetry, proportion, and harmony. It featured imaginative use of columns, pediments, arches, and domes in buildings. Notable works include St. Peter’s Basilica in Rome, the Tempietto of Rome, and Florence’s cathedral dome. The style was influenced by illustrated texts and was often mixed with local traditions. The Baroque style, introduced in the 17th century, challenged the Renaissance style. Renaissance architecture is now divided into three phases.
What is commonly the architectural feature of the facade of domestic buildings in the early Renaissance?
Renaissance architecture is renowned for its facades, which feature classical details such as columns and arches. One notable example is the Palladian window, a shallow arch surrounded by smaller columns.
What are the architectural features of Renaissance architecture?
Renaissance architecture utilized classical elements such as domes, columns, pilasters, lintels, arches, and pediments in an orderly and repetitive manner. Early Renaissance buildings aimed to bring air and light to the space, reflecting the dawning of Renaissance ideals. Filippo Brunelleschi, the first Renaissance architect, is credited with the famous red brick Duomo at the Cathedral of Santa Maria del Fiore in Florence, Italy. The cathedral’s construction began in the Gothic period and was completed in 1436, showcasing engineering advancements and influencing religious buildings worldwide.
What is a common element of Renaissance architecture?
Italian Renaissance architects drew inspiration from classical Roman architecture, with a focus on ancient buildings and ruins, such as the Colosseum and Pantheon. Classical orders and architectural elements, such as columns, pilasters, pediments, entablatures, arches, and domes, were integral to their training. Vitruvius’ writings also influenced the Renaissance’s definition of beauty in architecture. Renaissance architecture is characterized by harmonious form, mathematical proportion, and a human scale.
Humanist architects raised the status of their profession from skilled laborers to artists, aiming to create structures that appealed to both emotion and reason. Three key figures in Renaissance architecture were Filippo Brunelleschi, Leon Battista Alberti, and Andrea Palladio. Brunelleschi, trained as a goldsmith in Florence, turned his interest to architecture and studied ancient buildings in Rome. He was the first to consistently use classical orders Doric, Ionic, and Corinthian in architecture.
What are the four main characteristics of the High Renaissance style?
The paintings of the High Renaissance period were notable for their realistic representation, employing techniques such as perspective, accurate proportions, and depth. These works often exhibited a high level of symmetry, a symbol of unity, balance, and harmony that was highly valued in ancient Greek and Roman civilizations.
What are 3 defining characteristics or features of Renaissance architecture?
Italian Renaissance architects drew inspiration from classical Roman architecture, with a focus on ancient buildings and ruins, such as the Colosseum and Pantheon. Classical orders and architectural elements, such as columns, pilasters, pediments, entablatures, arches, and domes, were integral to their training. Vitruvius’ writings also influenced the Renaissance’s definition of beauty in architecture. Renaissance architecture is characterized by harmonious form, mathematical proportion, and a human scale.
Humanist architects raised the status of their profession from skilled laborers to artists, aiming to create structures that appealed to both emotion and reason. Three key figures in Renaissance architecture were Filippo Brunelleschi, Leon Battista Alberti, and Andrea Palladio. Brunelleschi, trained as a goldsmith in Florence, turned his interest to architecture and studied ancient buildings in Rome. He was the first to consistently use classical orders Doric, Ionic, and Corinthian in architecture.
What are the key features of Renaissance architecture?
The Renaissance reintroduced classical Roman and Greek elements into buildings, resulting in symmetrical facades and clear, streamlined volumes. The High Renaissance, starting around 1500, adapted these elements to contemporary 16th-century styles. The Late Renaissance, also known as Mannerism, saw the widespread use of decorative and ornamental classical elements like domes and cupolas, marking a significant shift from the complex Gothic proportions of the past.
What are the characteristics of the Renaissance structure?
Renaissance architecture is defined by a set of stylistic elements that can be traced back to classical antiquity. These include columns, arches, domes, harmonious proportions, vaulted ceilings, and ashlar masonry. In contrast to the robust, fortified structures characteristic of medieval architecture, Renaissance architecture is defined by a lighter, more ornate style.
What were the criteria for Renaissance architecture?
Renaissance architecture, originating in the early 14th century, is a European architectural style that emerged in the 17th century, a departure from the Gothic style. It draws inspiration from classical antiquity, particularly ancient Rome and Greece, and emphasizes symmetry, proportion, geometry, and regularity of parts. This style is characterized by the use of classical orders, such as Doric, Ionic, Corinthian, Tuscan, and Composite, which convey a sense of order and beauty.
Renaissance architects also used domes and arches, drawing inspiration from Roman architecture, such as the dome of Florence’s Santa Maria del Fiore and the arches of the Palazzo Rucellai. They often incorporated geometric patterns and spatial illusions, creating an illusion of depth and space. Renaissance architecture featured elaborate façades with decorative elements such as friezes, cornices, and pediments, often featuring sculptures and reliefs.
The human scale and functionality of Renaissance architecture were a reflection of the Renaissance humanist philosophy, which emphasized the importance of individual experience and well-being. This human-centered approach to building design was a significant departure from the Gothic style and a significant contribution to the development of modern architecture.
📹 ( 7 MISTAKES ) When Buying A Condo…
If you are buying a condo, selling a condo, or living in a condo this video is a must-watch! Many condos in Florida are already …
4 years ago here in North Texas as I was shopping for a house. There was a condo unit available. 2 bedrooms, 2 full baths, 5th floor overlooking the northeast of town and a corner unit with nice wrap around patio. Kitchen was great. The price was affordable and I really liked it a lot. I could afford it. Problem was when I asked to see the HOA fees. Those extra fees included $400 for swimming pool, $285 for parking, $300 security, $300 for fitness center, and $200 for the association. Those fees were MONTHLY 😬. It didn’t take me long to walk away. Putting the pencil to it, those fees would have cost me MORE than the unit itself and interest rates were at 2.5%. Found me a 3 bdrm, 2 bath, large lark w/brick fireplace, 2 car garage, a large covered patio, privacy fence, with a nice yard with plenty of space separation from neighbors, and NO HOA fees. I do pay my grandson to mow my yard weekly during spring summer and fall but it is worth it. Condos equal SCAM.
I inherited my late mother’s Florida condo in June. It is a two story garden style unit 5 miles from the beach on a golf course. Since then the condo fee went from $375 to $650. The insurance on the unit went up about 300%. If it were a single family home I would drop it and self insure like some of my friends are doing, but the HOA requires it. We got hit with a special assessment to cover emergency repairs on the building. Then they put the roof on a 3 year replacement cycle which means more fee increases in the future. My wife and I decided to keep it to clean it out gradually, do some renovations, use it as a vacation home, and possibly move into it someday. There are many elderly people living in the complex that are being forced out to live with relatives. There are about 25 units on the market the past few months that are not selling and the prices are going down.
We have an ocean front condo (3BR, 2BA) in Myrtle Beach. The $1530/mo HOA fees cover water, electricity, HO6 insurance, internet, indoor and outdoor pools, free EV charging in the parking garage. That’s a 10.6% increase over last year, mostly due to rising insurance costs. Reserves look reasonable. HOA meetings are mostly about what we need to pay for, and not about what we can avoid paying for as long as possible.
I am so glad I purchase a small 738sq feet private home back in 2016 in Florida. My girlfriend went with a condo. We both paid cash. Her condo is truly beautiful and her condo fee was only 195.00. Today is just shy of 750.00 a month. My home zero fees. She tells me all the time she truly wishes she did what I did. Her neighbors are all up in her business too Rules, rules and more rules. Fighting over parking spots! Me, Zero issues. She mentioned a few months back she might have to sell and rent as her condo fee is getting outrageous and I told her good luck. Her condo at best is worth 90k. Where do u go with only 90k. My home, I paid 40k put 50k into it and it’s paid in full. I only pay for insurance and taxes. So glad I went with my gutted. I knew a condo was not for me as I have Rottweilers and they are not allowed in many areas.
Bought condo in Aug. 2020 Hilton Head SC (2/2 1665 sq. ft.) for $305K cash. POA fees $403/month (insurance, grounds, pool, outside bldg maintenance). POA boards and companies cannot be trusted! Sold Aug. 2023 for 565K. POA increased to $525/month and DID NOT cover new insurance premium. Was assessed $1775 for 1/2 year premium increase. Luckily we were only liable for one month due to our closing date. We are renting now looking to move off this money pit of an island by summer. However we were very, VERY fortunate (and lucky!) to buy and sell at the right times. We learned our lesson about condos and never again! Off to a “4 season” area (Smokey Mtns?) for new retirement plan. Beach life is WAY over rated! Run away!!!
My buddy has a 2200 square foot condo in Riverside, CA and his HOA fee is $400 a month. We have a 900 square foot rental condo in Palm Desert, CA and the HOA fee is also $400 a month. In California the HOA fee can not increase more than 20% from the previous year unless member vote for a higher increase. I think HOA members should be required to be residents of the complex. Many HOA’s here are like that.
Upkeep is paramount whether you own a home or a condo….Some out of our out of pocket expenses we’ve paid for our single family home over the past 7 years that was built in 1985…..prices include labor, $8500 new roof, $1600 new water heater, $4200 deck refurb, $1200 outside repairs, $4000 new gutters and roof for deck. This doesn’t include new kitchen countertops and appliances as well as carpeting where needed…We are fortunate we could pay cash for all of this but owning a home has a cost if you want to keep it in good working order and ensure the property will retain value. Granted our property has appreciated way more than the upkeep cost but it would suffer if these things hadn’t been done. I’ve never been part of an HOA but there is no free lunch…
I live in South Florida. I’m so grateful I sold my very old condo with board members who never spent any money on the property right before the Surfside collapse. They also had O dollars in reserves. This article is extremely helpful for people like me who never did my due diligence before purchasing. Thank you.
I have been an HOA board member in AZ. People don’t want to participate until the prices go up. The fiduciary duty the HOA has and the viewpoint/vision is vitally important. The last thing I want to do is a special assessment because we didn’t do our duty. The condo HOA’s are way more complex than single family housing. That engineering assessment of your building and how the HOA addresses it is really important. I think that if you’re thinking about investing, watch the summary of the Champlain towers. Lot’s of commentary, but listen to engineers describe failure and what should have been done. Then you’ll understand the dynamic.
I am a 40 year Mariner. I am NOT a climatologist, and know nothing about changing climates, global warming, or whatever. BUT. . . .I can testify to the ocean getting taller every decade. And the taller it gets, the faster it seems to be rising. If you have ANY property within 1/4 mile, and less than about 100 feet elevation, YOU NEED TO SELL YESTERDAY!! Oceans are rising about 1/5″ per year, or 1″ every 5 years. Experts say every 1″ of rise causes 200 feet of lateral erosion. This is easy to see in the Outer Banks of NC, or Pacifica, CA, or North Shore, Oahu, Hawaii. Don’t be the last sucker left holding the bag. Somebody HAS TO LOSE.
It’s the owners, not the board who could vote to reduce or eliminate reserves. (Florida) Reserves will be required for condos over two stories, not all condos. (Florida) You can use the Google to read the actual law and law change. (Florida) Please correct me (preferably with a source reference) if I’m wrong on any of this.
My parents made the mistake of buying an older vacation resort studio condo built in the early 80s, in the NC mountains. Shortly after, they were assessed a $10,000 maintenance fee toward renovating the complex. Which was noticeably dated & beginning to show signs of neglect. They paid $30K for the unit, but the value had now dropped to <$17K by 2010. (During the real estate collapse.) They ended up selling the condo to a friend, cheap, just to get out of the mess. Plus, they found out the unit was being used, rent-free, to house homeless friends of one of the condo office personnel. 😡?! I know these are comparatively small dollar amounts, but this is about unforseen costs & scammy doings. So yes, be very careful & research fee caps & limits before buying any condo. Esp older properties. And agree that older people on fixed incomes need to be super thorough & diligent about research. Many are being forced out of coastal FL, SC & NC by these problems. I see it where I live steadily, now. (The same issues apply to buying into FL/coastal mobile home communities.)
be it a water system, sewer system, storm water system, streets, and power lines. One thing is constant. Do you save money now instead of borrowing money later and have a huge pot of money for capital projects but have to raise rates for the yearly operations and maintenance of the building and grounds. What does a roof cost, mid-life repairs for the structure, end of life replacement and when is that? sell build sore where else or demolish and rebuild..
I’m on our board here in SC on a near beach front condo complex (2-4 of our buildings are ocean front). We try to keep the monthly increases every 3-5 years but it’s tough. We raised them about 9% for the first time in a few years. But, we have separate annual assessment for the master HOA property insurance/flood insurance which went up 25% from 2022 to 2023. This year, it’s up another 4% or so. The insurance assessment will keep coming due to insurers pulling out of that coastal flood market and increasing building costs, along with the “Florida” impact. What happens in FL affects all other coastal insurances. Always has, always will. Potential owners must do research prior to buying, make sure it’s affordable to them. There’s a local complex that assessed its owners 330k/each due to structural deficiencies about 2 yrs ago.
What about in south east Florida beachside condo. They hire one construction company to do the necessary repair works to get the building up to code. That co gets fired. Now another assessment to pay for the new construction company !! What are elderly residents to do ? And who’s going to buy there now ? Thank u !
Condos are nothing but glorified apartments without any of the advantages of an apartment. Do you really want to pay for the upkeep of a building you really don’t care about? Pride of ownership?? You’re controlled by others! If you want to own you need to buy a house. And renting is just as fine if you know how to invest. Oh, but you can paint the walls! And not an avoid the stigma of not being a ” home owner”! I fell into that trap fifteen years ago and I got out of it, thank god.
I just wouldnt buy a condo, not in Florida at least. Even my cousin in VA, had his condo fees go up and and up 10 years ago. The sprinkler pipes in the attic would burst when it got very cold, causing floods below. And instead of insulating the pipes, they just fixed the burst section and let it happen over and over.
we recently bought a condo in Barefoot in Ironwood. Our HOA went from 443 to 525, It does cover internet, basic cable and water along with the pools etc. Recently checked on a condo on Waterview in Barefoot and their condo. fee went from 890 to 1525 a month. No longer on my radar and I am seeing the values plummet for sure. Just saw a 1400 sq foot unit listed for 299k, but with the HOA, taxes etc if you pay cash you still have a 2k monthly bill, crazy!
What if you own the land below and give it to an investor that builds the condos on top and compensate you with some properties ?. Do you still have to pay the monthly fees ? or its for people that buy the condos with no land below them ?. Do you have any rights to that or you just have the land and properties and you are forced to pay all these fees to manage the building and the complex around it ?.
In Alaska, they generally hold steady between $400 and $550 and usually include heat (that’s a HUGE deal up here, obviously). One building needed new windows and hit the residents with a $10,000 special assessment AND made them have them installed theirselves! Everyone listed them for sale, cheap cheap, but with the assessment still in place.
In Baltimore Maryland so far the Surf Side collapse has resulted in a 30% increase in condo fees last year with what looks like another 30% increase this year. The condo board is spending money like drunken sailors at a house of easy virtue. I lot of what they are doing makes sense. But lots of money is going to dumb stuff like “curb appeal!” Our building is old but well built with a few exceptions. We missed the bullet a bit because we just replaced the elevators before inflation went mad. We just spent 10 million or so on concrete reconstruction that was much needed. We are not near the ocean or any water. Our foundation is on a huge stone formation. 4 big ticket items remain, building rerskin, sprinklers, window replacement, & pipe replacement.
Thank god that back in 70s and 80s we built soviet styled commie blocks and not shitty fall-apart buildings. I own 2 apartments which are 45 years old and one which is around 60. All standing strong. 2 big earthquakes hit them several years ago. No structural damage at all, some plaster and plaint and it was back to new. Apart from being ugly a.f. on the outside – they are so well built that none require more then 30 eurocents per sqf for building maintenance in monthly HOA fees.
WTF wasn’t all those fees included in your contract? What’s was the Condo Associations fees for before this? Always use a tragedy to increase control and write new laws! What happen to building annual inspection? What government and local agencies are responsible for buildings codes? Insurance companies are GREEDY!
Psssst 🤫 the country is out of control… reduce your debts, pay attention, reduce frivolous spending, be prepared. Improve what you have. If moving, move to states w reasonable costs of living. But it’s getting expensive everywhere. When full global de-dollarization really kicks in…Americans will pay more than double for everything and then some. Everything could more than double in 1 season. Ask Argentina . Slim down Now.
Bluewater (the building behind him at the start) was one of THE WORST condo’s possible in Myrtle Beach. We owned at SeaWatch for 17 years and could have DOUBLED our money if we had sold 9 months after buying it but we held on through the ups and downs and essentially broke even over all those years but we DID get 17 years of enjoyment and free (to us) vacations, golf trips, motorcycle rallys without having to pay any additional $s as rentals covered everything. Sold it about 5 years ago and moved those funds into a ski condo in Snowshoe WV and did double our profits in 2 years and rolled those $s into a larger ski condo that we also remodeled just like we had done with all prior condos including our SeaWatch 2 BR in Myrtle.
We have two great condos in a large US city, both built in the early 70s. One has really high maintenance fees, about $630 per month. I hate that the fees are so high but the buildings are well maintained and we have hefty reserves, plus we self maintain it. The other condo has a really small maintenance fee, under $300 a month. Although this is a really nice unit we hardly have any reserves and the covenants established back in the 70s don’t allow for an increase without approval of 65% of the owners, and with a bunch of retirees in there most people won’t agree to the increase. We’re planning to sell this one in the fall when our current renter’s lease runs out.
Whoever the owners collectively elect to be on The Board MUST be trustworthy. I lived in a 80 unit condo in CA for 2.5 years. The Board president & 1 trustee were reelected repeatedly by their friends, other owners in the building that truly believed these 2 women who lived together were worthy of our trust. Incredible considering these 2, one a trustee who did the maintenance work around the building constantly would screw us all with high & frequent HOA increases for no obvious reasons. She would go to the nursery gardens across the street, with our HOA $$$ in her hands, buy dozens of new plants, drop them off in the same planter they were purchased in & never water or transfer the plants into the ground. She did this over & over again. This couple also never treated the wood porch near the community spa and in no time found termite damage & rotted wood all around that area. Again, where were our +$275-350/mo per unit HOA fees going? The problem was, these 2 roommates had blind supporters to all their theft & refused to investigate these women.
Where can I find that list of condos you mentioned. I own a PUD in South Louisiana and our HOA fee had to be increased due to our wind and hail coverage doubling. A real insurance crisis here too! That being said I own 2 weeks in a high rise resort in Daytona Beach Shores. We were spared as the building was not affected by the hurricanes, but out pol, hot tub, deck and sea wall were destroyed. An assessment of $750 per week, and the BOD is aware of the new law. Fortunately they have been budgeting for reserves and upkeep that is inevitable in a beach front building.
Our home in Cebu, Philippines took a huge hit with typhoon Odette a couple years ago. We happen to be at the right angle as the storm came off the water. Lost a good portion of our roof. Our 1 bedroom condo unit a couple blocks closer to the water also was damaged. No power or water for several months. It cost us 20k at least to fix both places up. No insurance, ever tried to get a 3rd world ins. company to pay up? Sold the condo last Dec. for 4 million Pesos ( $80k ) Our home is maintained constantly, Don’t care where you are, stuff happens.
So nothing is wrong except people were not paying enough for their maintenance and now have to allocate their saved/invested money back for maintenance. It’s a wash. Not new expense. New expense is people paying enough for proper maintenance and THEN comes a new higher fee on top of already a sufficient Reserve. The new maintenance fees I heard are for those with insufficient Reserves only. My condo has more than sufficient Reserve and we do not have any increase.
I’m a homeowner, a single family home. I would never buy a condo or townhome and I would never buy cheap into a 55+ retirement community. All you have to do is look at what is happening to homeowners on rented lots out west in retirement communities, they are essentially having their homes stolen as the land owners, knowing the homeowners can’t move their homes increase the fees and rents until the homeowners walk away.
Lets not forget that horrific tragedy that happened in 2021 with the Miami beach condo collapsed killing hundreds of residents sleeping in the middle of the night 1:00 a.m. oh my gosh. Do you think it was from the ocean salty air that penetrated the structures? Such a horrific sad case and not to mention terrifying for these people before they passed away and were crushed to death. RIP
Buildings require maintenance especially facing the ocean with saltwater etc. Buildings need regular maintenance, like your vehicle. They have a life span of perhaps 30- 50 years. It’s normal to eventually be faced with roofs, plumbing, safe balconies, elevators, etc. etc. Building don’t last forever without serious repairs and replacements. Everyone should be impounding for maintenance items even if you own a single family home. If your condo ownership association is not impounding for maintenance, each owner should be setting money aside on your own and blame are property owners themselves as well. Your severe weather in Florida can make it even more difficult. Welcome to the real world of owning real estate.
A lot of this article to me, seem to like a lack of common sense people have nowadays. water, moisture, damages property. Whether it be from the ocean, snow, rain it all impacts the structure. Make sure the roof is tight, make sure the windows are sealed, make sure there is no water infiltration from the patio that will go along the way for structural integrity. this non-publicize blacklist you talk about is quite disturbing, if it is true. How can it be made public? As it stands, it seems quite discriminatory. before purchasing, always look at what the HOA reserve rate is for each unit. 5:42
I have been looking for Condos, Townhomes, Houses to retire to. It was a dream of mine to retire in a downtown condo in one of a handful of cities I have chosen. I have stopped looking at and I will NOT buy a condo. The HOA fees are so high and not capped that it should be a punishable crime. Why would I spend $350- $400,000 on the condo itself and then risk being priced out of my home by an HOA fee that adds a $1000 to my monthly and could go up much higher if they please? It’s worse than having an adjustable rate! Retirees need financial stability and certainty since they are now retired, a condo’s HOA is the opposite of that.
I believe the rule is within 5 miles of the coastline, not 25 miles…for the 25 year recertification? The problem with all of this is the state is not giving the condo Associations any time to revamp and collect the new level of reserves needed, say over 5 years. Instead, they demand every reserve has to be fully funded based on the recertification/structural integrity report basically immediately. This is why people are receiving huge assessments of $175k or $200k. Normally, you have a reserve study done and you have a cost estimate to replace an item and a remaining useful life in years for that item. So say I need to replace a roof in 10 years, and it is predicted to cost $120,000. I would collect $12,000 per year to fully fund that item so I have $120,000 when needed. Plus, reserves for all the other items are done the same way, some will be 5 or 10 or 20 years, with annual contributions. If you follow this, you will collect enough from the owners to pay for needed repairs and replacement. The structural integrity review at 25 years is new. It was previously set at 30 or 40 years. It does not apply below 3 stories.
I believe I bought a hidden gem condo though it is a few hours drive to the nearest beach. Our building is well managed by a third party property management company and they are very transparent with our board. So far we have had reasonable increases in our fees which are currently about $400 a month. The building is nearly 20 years old but the association has been addressing the various needs as they arise as well as planning for future capital improvements such as a planned upcoming roof replacement and air conditioning. We also have a financial planner that has been investing our money in laddered CDs while the rates are elevated to help keep us in good financial shape. The condo is in a central location and it is relatively close to most of my physicians which was also a big factor going the condo route. As I am nearing retirement, l am also facing the likelihood that I will have mobility issues down the road so this was the best route for me.
The problem in my area of the country is there’s no time to look into associations and their fiscal health before buying – units are listed and sold immediately, mostly above asking. Bylaws, financial documents, etc… are also impossible to obtain – I’ve tried. I’m in my new build townhouse for three weeks now, 2 miles from the beach. My plan for numerous reasons is to sell in about 5-7 years, well before any potential problems I’m hoping.
I enjoy your articles very much. I prefer your content over others that seem to be more interested in viewers than their content. The wife and I were looking for the past several years in Fl. and due to the uncertainty we passed on it and instead purchased a 36′ diesel RV and go to Fl. for the winter without the headaches of the ridiculous costs. $900.00 monthly all inclusive – food and entertainment. The RV is used and purchased from the original owner who was meticulous with maintaining.
The best policy when buying into any HOA whether it be a condo, single or multi family in a gated or non-gated community, or mobile home in a land leased park is to RUN (not walk) away from any deal as fast as you can. Also beware of CDDs in newer housing developments. CDDs are often not disclosed properly when properties are being marketed.
I buy and rent condos. The first thing I investigate is the management of the community. Are the reserves fully funded? When were the roofs last replaced? What is the demographic of those allowed to live there? Are ghetto rats allowed to live there? What is the ration of investor owned to primary residences? Look at the budget to see how it’s spent. Once I find a good community I typically buy multiple units there to increase my vote and influence.