Friday, September 25, 2009

downtown livin'... probably not for everyone.

Not only do you have to be able to fork over a hefty sum of money for one of the downtown condos, or have your monthly mortgage be well into the thousands a month; but then, you better be prepared to pay a minimum of about $300 a month in COA fees for each 1,000 sq feet of living. (and that's for the lesser known buildings)

Here are two of the newer ones going up:
Barton Place................ $0.38/sq ft
Austonian.... . . . . . . . .$0.64/sq ft

Yep, that's right, buy yourself a 1,000 sq foot condo, and you'll be paying an extra $380 or $640 in fees, on top of mortgage, state taxes and added insurance if you decide you want to cover your personal belongings. (I've heard Barton Place is around 425K for the average to smaller units, and the Austonian starts at $550K and goes to a cool $7M.)

And if you're going to live somewhere longterm, surely you'll want closer to 1,500sq feet, especially if you have a spouse; and if you have a kid or two, maybe closer to 1800-2000sq feet so everyone remains sane and you don't spend money on psychiatrists to cure your "familiaris mentalus claustrophobis".

Check out this link and see for yourself how much each of those buildings downtown charges for per month in just Building Maintenance fees (COA).

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