Quote:
Originally Posted by Cecil Terwilliger
Funny part is that houses require repairs that costly all the time. The only difference is that in a house you can just choose not to do anything and let it fester and get worse.
If reserve fund studies were mandatory on detached homes like they are for condos, everyone would be bankrupt apparently.
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I have this image of a kid sitting in their room on the 2nd floor of a detached house saying everything is fine. Meanwhile the parents are running around on the 3rd floor with buckets as the roof is caving in, the cat and dog in a rowboat in the basement with 2 feet of flood water and the grandparents guarding the front door because it no longer closes properly.
Part of some of the complaints (or negative feelings about a special assessment) from condo owners that I hear seem to stem from the fact that they aren't experiencing a problem themselves. It's somebody else in the building with the leaky ceiling/envelope, elevator that they never use, etc. that some how translates into the belief/desire that the cost shouldn't be borne by them at all. Which isn't how a condo works.