still_brick
First-time buyer
I’m comparing a 2,150 sq ft villa with a similarly priced one-bedroom serviced apartment in Boston. On the information available, the villa looks simpler to maintain, while the apartment seems to offer more control but potentially larger irregular costs.
My main concern is the apartment’s shared-building exposure. The meeting minutes mention proposed work three times but give no firm estimate, so it is difficult to judge whether the reserves are adequate or a substantial owner contribution could follow.
I’m modelling routine maintenance, insurance, energy use, shared-building reserves, management workload, vacancy risk, tenant demand and resale liquidity. What costs or restrictions tend to become visible only after the first year? In particular, which figures or records would you insist on seeing before choosing between these two property types?
My main concern is the apartment’s shared-building exposure. The meeting minutes mention proposed work three times but give no firm estimate, so it is difficult to judge whether the reserves are adequate or a substantial owner contribution could follow.
I’m modelling routine maintenance, insurance, energy use, shared-building reserves, management workload, vacancy risk, tenant demand and resale liquidity. What costs or restrictions tend to become visible only after the first year? In particular, which figures or records would you insist on seeing before choosing between these two property types?