So the house deal fell through. Which for me, isn’t the worst thing. Once we got our hands on the Condo documents, we noticed that there was no reserve fund AT ALL. So instead of the board planning in advance for things that will eventually need to be replaced, and accruing the money for it through strata/condo fees, apparently if for example all the roofs in the complex needed to be replaced (like they did 2 years ago) they would in essence do a big cash call at that time. Making all the owners cough up an additional however much per month to “raise’ the money and then make the repairs. We talked to one owner who said in the last 4 years they’ve paid close to an additional $60,000.00 on extra fees to cover renovation expenses,on top of the monthly strata/condo fees.
No thanks. I’m not moving into a place that has no idea how to plan in advance. Plus who knows how much else could go wrong in the next however many years that I could potentially have to contribute towards. I’m not interested.
Which is fine with me. Because I didn’t have my heart set on this house in the first place. Would it have been doable? Of course. A few coats of paint and some updated lights and it would’ve been fine. But now that it’s out of the picture I feel no sense of loss. In fact I even emailed my real estate agent this morning after I heard the news to see how the original one that I DO love is doing. He says the offer is still pending and it looks strong so that sucks, but he said he would keep an eye on it for me.
I guess the age-old saying still stands.
It ain’t over til it’s over. But man I just want it to be over.
-Kenny Rogers/The Gambler-