Wednesday, May 25, 2011

TyL: Why I'd Never Own A Condo

"Her monthly fees have now reached $900 per month but at least she isn’t a newly-landed immigrant or low-income parent, like many of the other residents. In his affidavit, Bisaillon also wrote that each unit could be on the hook for almost $20,000 before the condo’s finances are back in the clear."
Read on.

Seriously, a 30 year old building where you're paying essentially one bedroom apartment monthly fees for that part of town just in maintenance simply because apathy and disinterest in actually dealing with issues on behalf of the owners has let repairs build up to the point where there's "millions of dollars" worth to be done.

And this is a credible investment?

Screw that. Own a freehold house, pay your taxes, and then if you don't feel like fixing the walls or mowing the lawn at least it's your own damned fault when they fall in on you and the raccoons are advancing upon your trapped body from the overgrowth. I'd propose government address this through legislation to ensure it can't happen but this idea that we can push repairs and maintenance off onto the next guy as long as we don't have to pay for it has such a prevalent mindshare amongst "leadership" there as well that we've a $123 billion Infrastructure Deficit* that's going to come back to haunt someone.

They'd probably wonder what exactly the problem is they're being asked to solve.

* And that was just to stabilize things. In 2007.

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