| Author |  Topic  |
chrizzy100
 USA
7152 Posts
Joined: 26 May 2003
Status: offline |  Posted - 22 Nov 2006 : 14:55:43  
| | For retirement...I can't see what wrong with a small condo...friends of ours have a lovely place in Vero beach...$120k...it has everything you need there or a walk away...a lot of the homes are locked up over the summer....with low running costs no need to rent out.... | | Report this post to a moderator | goto top of page |
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No Shoes
 United Kingdom
57 Posts
Joined: 21 May 2006
Status: offline | Posted - 22 Nov 2006 : 21:38:48
| Chrizzy
Do you know how long ago they bought?
I have also been looking at similar options to this - if you get away from the STR developments there are a few that are between 120k and 200k. It would be interesting to know whether they get any break-in issues with these type of properties.
We are in Florida for 3 weeks from next wednesday. Whilst we will not have much time to look around on this visit (we are with friends and also meeting other friends) I am planning to collect all the information I can for review on my return.
Have a happy Thanksgiving and many thanks for all your comments!
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chrizzy100
USA
7152 Posts
Joined: 26 May 2003
Status: offline | Posted - 22 Nov 2006 : 22:31:58
| | They got the place a few years ago...the $120k is what its worth now...they got it cheaper than that....no breakins that I know off...everyone knows everyone else...and the area is gated...nice places....2 bedrooms.. dinning room...sitting room... Florida room...2 baths...the dinning room is small so is the kitchen...but the rest of their place is a good size... | | Report this post to a moderator | goto top of page |
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tezz7628
 United Kingdom
1637 Posts
Joined: 20 May 2004
Status: offline | Posted - 24 Nov 2006 : 11:02:41
| house sharing has been mentioned on the forum before they called it co-ops which if i remember right was made to sound a bit iffy
have just seen this on wikepedia i always thought a condo was the building and not the house share
http://en.wikipedia.org/wiki/Condo=minium
(take out the = sign)
it gives info on condos, co-ops
it says at top of page condos can consist of single family dwellings |
tezz 7628 |
Edited by - tezz7628 on 24 Nov 2006 20:36:28 | | Report this post to a moderator | goto top of page |
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blott
 United Kingdom
21730 Posts
Joined: 22 Feb 2002
Status: offline | Posted - 24 Nov 2006 : 12:10:16
| Tezz, the forum doesn't like the long format of the word condo.
A condo is
An apartment house, office building, or other multiple-unit complex, the units of which are individually owned, each owner receiving a recordable deed to the individual unit purchased, including the right to sell, mortgage, etc., that unit and sharing in joint ownership of any common grounds, passageways, etc.
according to an online dictionary resource.
So, in order to be called a condo, the house share would have to have the criteria above.
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Blott
www.orlandovillas.com/villas/150.aspx
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No Shoes
United Kingdom
57 Posts
Joined: 21 May 2006
Status: offline | Posted - 24 Nov 2006 : 12:16:07
| Tezz
If I understand it correctly in the US a condo is what we call a 'flat' which is owned by an individual. An apartment is normally a rental. A co-op is something completely different, where the owners all have a stake, but normally of the whole building/development rather than of a single unit.
Sharing an individual unit/property would be (dare I say it) timeshare - which I think the americans sometimes call 'period ownership'.
Any comments? | | Report this post to a moderator | goto top of page |
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Arby
United Kingdom
186 Posts
Joined: 17 Aug 2005
Status: offline | Posted - 24 Nov 2006 : 17:05:30
| | A co-op is whereby a group of people form to own or control the housing or community where they live. The actual group owns the real estate as a whole, and maintenance and running expenses are divided equally to each owner. Each owner has the right to vote in the affairs of the co-operation. You don't actually own real estate, you own shares in the co-operation which owns the real estate. When you come to get a mortgage, you get a loan based upon this. You can with your 'ownership' live in your unit or rent it out. It's not condo ownership nor timeshare. |
Edited by - Arby on 24 Nov 2006 17:06:12 | | Report this post to a moderator | goto top of page |
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Robert5988
United Kingdom
1466 Posts
Joined: 15 Apr 2004
Status: offline | Posted - 24 Nov 2006 : 17:11:40
| quote:
Tezz
If I understand it correctly in the US a condo is what we call a 'flat' which is owned by an individual. An apartment is normally a rental. A co-op is something completely different, where the owners all have a stake, but normally of the whole building/development rather than of a single unit.
Sharing an individual unit/property would be (dare I say it) timeshare - which I think the americans sometimes call 'period ownership'.
Any comments?
The difference between flats/apartments and condos, is that the former are on a lease and condos are not. (you can own or rent an apartment)
A block of Condos is owned outright and jointly by the owners and includes the land on which they are built. There are very strict laws laid down on how they are to be managed and to achieve this there is an elected Board of Directors that determine rules, costs, etc.
In UK some owners in blocks of flats have purchased their Freehold and have, in practice, a similar situation. Although in this case the individual flats still technically have a lease and the power of the owners of the freehold is not as wide ranging as for USA condos.
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Edited by - Robert5988 on 24 Nov 2006 17:13:57 | | Report this post to a moderator | goto top of page |
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tezz7628
United Kingdom
1637 Posts
Joined: 20 May 2004
Status: offline | |
Robert5988
United Kingdom
1466 Posts
Joined: 15 Apr 2004
Status: offline | Posted - 25 Nov 2006 : 15:04:03
| quote:
by the way i'm pressuming a duplex is a semi-detached house
A duplex is a 2 storey apartment with an inner staircase. e.g. the living rooms on one floor and the bedrooms on another.
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tezz7628
United Kingdom
1637 Posts
Joined: 20 May 2004
Status: offline | Posted - 25 Nov 2006 : 15:07:54
| quote:
Originally posted by Robert5988
quote:
by the way i'm pressuming a duplex is a semi-detached house
A duplex is a 2 storey apartment with an inner staircase. e.g. the living rooms on one floor and the bedrooms on another.
what's the difference between that and a town house then? |
tezz 7628 | | Report this post to a moderator | goto top of page |
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blott
United Kingdom
21730 Posts
Joined: 22 Feb 2002
Status: offline | |
Robert5988
United Kingdom
1466 Posts
Joined: 15 Apr 2004
Status: offline | Posted - 25 Nov 2006 : 16:02:03
| quote:
what's the difference between that and a town house then?
68th St and 1st Ave
APARTMENT: Unique penthouse duplex built on the top of a six story elevator building. All new construction. Large living room with 16 foot ceilings. Formal dining room or 3rd bedroom, kitchen and second bedroom on the first level. Large terrace and open city views. Upstairs - Master bedroom with two exposures, walk-in closet, second marble bath. Sky line windows.
BUILDING: Eight story elevator building. Laundry on premises. Video intercom system. Live-in super. Renovated lobby and hallways.
PRICE: $5000.00 per month
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Arby
United Kingdom
186 Posts
Joined: 17 Aug 2005
Status: offline | Posted - 25 Nov 2006 : 21:29:07
| No a duplex is actually a building which has been split to make more than one family home. You can actually have a single storey house which has been split into two separate dwellings to accommodate two families equally. Each has it's own entrance, each will be responsible for their own mortgage/rent and bills and taxes accordingly.
A duplex is not necessarily shared staircase, it's not necessarily one home on top of another. It's simply something which has been split to accommodate more than one dwelling. Sorry to correct you. Check with Realtor.Com for actual duplexes. Many are single storey, bungalow like structures, with separate entrance doors to each accommodation. The original entrance door may or may not lead to a hallway which then has separate doors to each accommodation or there may be two front doors either side of each other. |
Edited by - Arby on 25 Nov 2006 21:31:37 | | Report this post to a moderator | goto top of page |
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Robert5988
United Kingdom
1466 Posts
Joined: 15 Apr 2004
Status: offline | Posted - 26 Nov 2006 : 18:02:38
| Arby,
We live and learn! With property I had only ever heard of the term 'duplex' in relation to two storey apartments. However looking it up it shows that,in the USA, you are correct that it can mean my definition(as shown in post above) and yours.
I don't believe there is any other recognised way in the USA of describing an Apartment spread over 2 floors(in a block of apartments)other than duplex.
The problem is that 'Duplex' is widely used in UK to describe 2 storey apartments, particularly in London and that, as far as I am aware, is the only definition - a search will produce loads of examples viz:
quote:
An outstanding three bedroomed duplex penthouse apartment on the 7th and 8th floor in this superb contemporary apartment block with porterage and gym moments from Kew Bridge and the River Thames.
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tezz7628
United Kingdom
1637 Posts
Joined: 20 May 2004
Status: offline | Posted - 26 Nov 2006 : 19:30:58
| quote:
Originally posted by Arby
No a duplex is actually a building which has been split to make more than one family home. You can actually have a single storey house which has been split into two separate dwellings to accommodate two families equally. Each has it's own entrance, each will be responsible for their own mortgage/rent and bills and taxes accordingly.
It's simply something which has been split to accommodate more than one dwelling.
Many are single storey, bungalow like structures, with separate entrance doors to each accommodation. The original entrance door may or may not lead to a hallway which then has separate doors to each accommodation or there may be two front doors either side of each other.
??? semi-detached ??
have looked up realtor sites and they also mention triplex and fourplex |
tezz 7628 | | Report this post to a moderator | goto top of page |
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Arby
United Kingdom
186 Posts
Joined: 17 Aug 2005
Status: offline | Posted - 26 Nov 2006 : 20:45:52
| No semi detached are two separate houses which are linked in the middle together. They were built as two separate houses and intended as so. Triplex and fourplex are as said, they are from one structure which has been amended to accommodate 3 or 4 dwellings. It's the same as when you have a house in England whereby the top floor is zoned as a flat and the ground floor has been sectioned off as another flat. They have had permission applied for and have been rezoned as two separate addresses, eg. Flat A, Flat B, at 100 Happy Street, originally one address when built and now rezoned as two. Same for triplex and fourplex.
Two storey apartments today are simply known as two storey apartments. |
Edited by - Arby on 26 Nov 2006 20:58:02 | | Report this post to a moderator | goto top of page |
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tezz7628
United Kingdom
1637 Posts
Joined: 20 May 2004
Status: offline | Posted - 26 Nov 2006 : 20:58:09
| my cousin in sc was looking at new duplexes a few months ago
these haven't been converted
i was going to ask about your post earlier it sounded like you was talking about a house that had been converted |
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Robert5988
United Kingdom
1466 Posts
Joined: 15 Apr 2004
Status: offline | Posted - 26 Nov 2006 : 23:24:43
| quote:
Two storey apartments today are simply known as two storey apartments
We are in real danger of confusion here. I am in USA now and have been asking all my American friends.
An apartment spread over 2 storeys(with an internal staircase) and say on the 7th and 8th floor, is known as a 'duplex' both in USA and UK. See the extracts I posted above from a USA and UK advert - and you will find that the common term.
If you said a 2 storey apartment to most people in would mean a 2 storey block of apartments with an apartment on the bottom floor and an separate apartment directly above it being the top floor.
Also duplexs/triplex/fourplex(apartments) are not always conversions. The upscale new Apartment/Condo blocks in Miami have duplex and triplex units - particularly the penthouses - with the reception rooms above th bedrooms.
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