Bought a condo. First day of home ownership!

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SLCraig

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Dec 21, 2008
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London, ON, Canada
Well, not many of you know, but I bought a condo back a few months ago and the close date was yesterday, Jan 31. I got the keys yesterday and went in, started pulling up the tired carpet and brought in some small stuff before I bring in all the furniture etc. (I am re-carpeting) Condo rules say carpet is to be used in the main areas (except entrance, kitchen, bathroom etc) so I have to carpet over the nice looking laminate that is already there sadly. Feels great though. I am very happpy with my purchase despite needing some cosmetic TLC (previous owner did a lot of things very halfway-ish we'll just say)

Here are some of the pics from first day in the new place, carpet tear up is pretty much all I've done with my pops so far.

Condo pics

I am buying remnants for the carpet, so the main living space will be a berber, and the 2 bedrooms will each be a bit more plush but are scraps from other jobs at the carpet place, so I am saving a pile there. I am also re-painting the entire place and will most likely go with the same color throughout.
I got a new bathroom vanity as the pedestal sink in there is more or less entirely useless for space (there is no other space in the bathroom at all)

I met the neighbor directly to the side of my unit and she seemed really cool, so I am very thankful for that. Already got invited for the superbowl party they're having. Nice. Helps restore my faith in humanity a lil bit, lol!

And last but not least, I think my new 51" plasma will look great in my living room in this place.
laugh.gif
 
Congrats! Place looks good!

I hope not to be too far behind you...for us we just have to find that place now. Hopefully in the next few weeks. It's too bad you need carpet, as the floor looks pretty good!
 
Congrats, SL! Enjoy your new home!

I think before you moved, you had a fair commute to work - are you closer to work now?
 
Congrats! Now you are one of us bearing the brunt of mortage for decades to come ! (kidding).

Mine is to be paid off in the next 30yrs so I'm in the same boat with you..

Cheers,

Q.
 
Congratulations on your home purchase.
Condo associations can be a PIA.
I wouldn't cover those lovely wood floors with carpet....or are they laminate?
Good Luck.
 
You could do area rugs. As long as it covers up 70-80% of the main rooms you should be fine. They want it covered for noise purposes. But when you decide to move you would have to put carpet back in though.
 
Haha.. Thanks everyone. Yes the floors are laminate. I am just going to do the right thing and carpet over them. I am happy with the carpet choice anyway and it's cost effective. Oil stash will stay at my folks' place where it always has been, which is where I do my oil changes 'n stuff anyways. The 2nd bedroom will likely just have a futon in it, and my bikes. (Gotta have those) I may even do the bachelor type thing and put a floor to ceiling bike rack in the room for my pride and joys.
laugh.gif


As for the location, it is slightly closer to my job (and yes I commute) but not much. I save about 4-5KM one way. It's something I guess. I did like the building and have lived here in the past, so I decided this was the place for me. The unit is a great layout and I am very happy with it.
 
Originally Posted By: andyd
Congrats. Home ownership means that you are officially a gr'up


Yup!

don't listen to the nay-sayers SLCraig for they are eyeing with envy.

No matter how you dice it: it's becoming more and more difficult for young adults to own or be able to purchase their place nowadays, mainly due to the fact that (a) properties (land properties, or real estates I mean) are going up in places that the overall economy is still positive(or strong), such as Canada in general; (b) the ever-disppearing middle-class is where used to be the bulk of the majority; now it's becoming more polarised than ever: as middle-class disappears, that leaves the poor and the extremely rich, and nothing in between.

With these 2 major observations in mind, it's becoming very, very difficult to be able to afford a house, letting alone a condo or apartment..

So, now you are officially an condo owner, you should congratulate yourself and work hard to keep it...

Please take care and all the best to you.

Q.

(pardon my previous sarcasm, I'm in the same position as you are, but a tad late into the market...and now I'm tied for the rest of my life to the house...working essentially F/T for the bank...)
 
Congratulations.

The next step is to work hard and build as much equity as possible. We had our first home paid for in (if I remember correctly) 6 or 7 years. If you knuckle down and build equity, in a few years you can roll it over into a larger place about the time a wife and kids are in the picture.

If you work both hard and smart and get it paid off you won't be stuck working full time for the bank. And if you've really played the card right you've purchased a place where you can apply some sweat equity, and continue to increase the value. It's far better than having a handful of rental receipts to show at the end of a few years.
 
I've been told that when you buy a condo, you own the space inside
the building, but not the building itself or the property it sits on.
 
Originally Posted By: Merkava_4
I've been told that when you buy a condo, you own the space inside
the building, but not the building itself or the property it sits on.


Pretty much.
And me being a single guy that is exactly what I wanted for now. I do not want the responsibility of snow removal, roofing, windows, etc. That is all taken care of by them. But I still get to build equity with the condo and I think I got the best of both worlds. Besides, on one income I just could not afford a single family detached home, as much as that would have been great. (Garage!)
 
Rugs are quieter for you and any neighbor below. It works both ways. A subsequent insulated floor is nice.
Walls are noise transmitters, too.
Sometimes foam filling of extra sheets of drywall are a solution.
And noise from others is the #1 complaint in condos.
 
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I don't know how it might work up there in your country, but here condo rules are not laws and generally you can do anything you want inside the place. They certainly could not tell you your inside walls need to be a certain color... well technically they could if it's in the bylaws but realistically they would have a very hard time enforcing that. You're restricted on the outside stuff because that is a common area and everyone pays common charges to support that, and you sort of agreed to that when you bought the place and signed the documents saying you accept and agree to the condo by-laws. And down here for outside stuff the association would have to bring you to small claims before anything can really happen, otherwise all they are going to do is send you paper fines or scary looking letters. All that could happen is if you are super loud and roll a bowling ball around on hard tile floor the neighbors would complain and the association can make it hard on you via the statement about carpet in the bylaws. But i would not live in fear not having carpet and you know not to be a disturbance- after all there's going to be a superbowl party next door. Uh-oh copyright infringement.
And regarding sound, a tile or hard floor will reflect sound. It's the sound of your feet or objects hitting the floor that makes the sound. And when you do start having problems, join the condo association and get on the board, no more problem
smile.gif

I'm so happy i don't live in a condo anymore.
 
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