valerie wrote: I guess I am fortunate because there are no rats or bugs in my house but I do spray
about three times a year inside and several times a year outside.
Rats are not something you should find in your home ever, unless you live in a rats infested area or downtown
As far as bugs, well, they are common and everywhere, you just don't want them in your house, but sometimes bugs can hide behind walls or bed bugs
or more commonly they crawl through cracks or openings and into your home. If you have a backyard you most certainly have bugs, it's a matter of keeping them in check and keeping your home clean. It's almost WASP season, in May they start to look for a nest
so do the ants....oh yeah and let's not forget those spiders so big you wonder how could they possibly have entered the house, BUT spiders are a good thing, they actually eat all the bugs
so you leave those alone, they work hard 24/7 for you.
Real estate has increased here too. The reason why it has increased is because the
intrust rates have gone way down. Houses for the most part are sold very quickly.
It's complete madness - but it's not only interest, it's the HUGE demand vs. low inventory, it is definitely a seller's market, as there are far more buyers than homes available, so, as you know with offer and demand, the same principle applies, combined with low interests, people can jack up the value of their home 4x and they will get a buyer willing to spend 30%-100% above the value of the home even if it is run down..........I think this pandemic has done something to people's brain - and I think the shit will hit the fan very soon - is it smart for a buyer to spend $600k on a home that was worth only barely $300k a year ago, NO! It's probably the worst decision they have made in their life.......Because eventually as they move in and "snap out" of their madness, they will realise that the home is in need of repair and badly too, and with raw material and construction also going through the roof, they will find themselves paying $100k-$200k in repairs........eventually this real estate bubble will settle, it will have to, it's crazy, are old run down homes going to keep rising until it hits $1 million ? it's crazy, eventually it will settle, decline or the bubble will burst - so that $600k home now might "correct" down to $400k OR they will have a very hard time selling that. Imagine when interest rates go back up, buyers will then look for a bargain, and people who have ended up with over valued cardboard boxes will struggle to sell unless they spend a fortune on remodels........... Besides, how long of a mortgage will it take to pay those over valued homes, 50 years, 70 years, 80 years, lifetime ?
In some areas house prices have gone up 30% literally in 1 year, where normally house prices are up 3%-4% yearly, not 30% !!! and to think that one expected house prices to go DOWN during the pandemic, I guess people are not thinking long term, they rush to buy an overvalued home in the worst possible moment, thinking they are getting a bargain because of interest rates, but not thinking that they will need an extra $100k-$200k to remodel.
I've been considering moving further South and into a smaller house or a condo.
ahahaha don't fall for the infamous "condo" trap, that's another MADNESS going around, you have buildings being built everywhere, some cities are surrounded by buildings, it's ridiculous, it's all about money. A condo might be a comfort for those who no longer can manage a house, but often people buy them not thinking of all the cons.......You probably discovered only ONE of them, fees, which in some cases are as high as rent. There are other issues too, you are paying such ridiculous prices for a MUCH smaller space, unless you are moving into a penthouse
a lot of those condos are just as expensive as homes and yet they are tiny. Another thing, you are subject to the rules of the building, you are subject to paying your share of repairs to common areas if the reserve does not cover them, which is often the case if the administration does not manage things properly, and often is the case if fees are too low, but eventually comes huge repairs - and those reserves made by the fees only cover for basic maintenance, and most of the time not for the BIG repairs. So when comes time to make those huge building repairs that cost several hundreds of thousands of $ or millions, guess who pays for them, yep, each condo owner pays their share, so if there is a $ 1 million repair to the elevators, the owners will have to pay for them, collectively, and you have no choice, you can't refuse under ANY circumstance. So in the end, a condo can end up costing you more than a house, far more, because in a home you can stretch repairs and do them when you can, but not in a condo, building repairs are far more costly. If you are still on your 2 feet, you are better off with a home, one that has no hidden defects and where you know you won't need major repairs - and it is even cheaper to hire someone to mow the lawn and remove the snow in the winter if you are unable to eventually, far cheaper than the $500/month or more condo fees. + Condos don't valuate as quickly as homes.
There are areas in Canada where condos fees are in the $800-$1k a month, that is bloody madness, you can live in a home and hire a few butlers, but I guess a lot of senior citizens are attracted by this model of living, often because they don't realise they can still remain in their home and get the help needed, for FAR CHEAPER than a condo !
Apartments here are tiny, and I'm guessing in the states too, I have family there and it's no different there, they are quite small, unless you can afford to live in New York in a penthouse or large apartment, it will probably be bigger than a standard home, but be prepared to pay the high price too
But most condos here are what I call, shoe boxes
It's like airplanes, everybody is packed like sardines in a can, they are using every available space to squeeze in a seat to fit more passengers, well they are doing the same with buildings, it's total insanity, they are building 20+ story high rise and yet apartments are getting smaller and more expensive, might as well live in a home, you will need the space, unless you fancy living in a room the size of a jail cell
The problem I find with condo's is many of the nice ones want to charge HO fees.
The fees are monthly and can be very extreme. I don't mind pay a monthly fee
if it is reasonable. However, many of them are over $500 a month and I wouldn't
pay that. Seems stupid. A lot depends on what is included in that fee but most
really don't include much of anything.
ahahahaha the fee includes maintenance to common areas, don't let anybody fool you otherwise, here that $500 can pay you a whole winter season of snow removal or mowing the lawn, that's why staying in a home and paying for maintenance is far cheaper than moving in a condo just to avoid doing work in your house. There are also condos that lure people with LOW fees, again a huge trap, because these buildings are below the minimum reserve they need, so when comes time for repairs, they will charge bigger amounts to owners. I know someone who used to live in a condo, she paid $400+ a month in condo fees, yet one day she got a nice letter that she must contribute $12,000 for roof repairs. Total bill for the building $400k refection of roof, she had a deadline to pay and had to........ ALSO in a Condo you are on your own with repairs inside your apartment, that includes repairs to the heating / cooling, duct maintenance, repairs, she had to pay $800-$1000 for that multiple times a year.
I am thinking of the future and it is mighty handy where I am. Still, my house is
truly too big for me. I don't need the space and as I age, I know things will become
too much for me to handle. So I am thinking of moving to Florida or the Carolinas.
Florida, the crazy state, bad choice unless you enjoy hurricanes and crazy people, and crocodiles in your backyard
As far as space and age, yeah that's why a lot of people a certain age move out of their home - but if you do the math, it is less costly to hire help than move out into a condo. Here, it's not uncommon for older folks to stay in their homes, there are lot of 80-90 year olds here living homes, they don't have to mow the lawn or shovel the snow, they pay for it, it's far cheaper than spending $2k-$4k a month in a senior home or spending $7k+ a year in condo fees