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Reply to "Is it worth it to buy at the Watergate?"
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[quote=Anonymous][quote=Anonymous]I would never again own in a coop. [b]It’s much worse than an HOA[/b]. Read the coop docs. The board has a ridiculous amount of power and can make arbitrary decisions. Also really look at the building infrastructure. The concrete (in the plaza and parking garages in particular) is in poor shape. There appears to be a ton of deferred maintenance, which is sadly common in coops. I would anticipate a lot of one time significant charges. That’s when it will get ugly bc some long time homeowners won’t be able to pay, even with monthly plans, etc.[/quote] Thanks for bringing this up. I'm a renter in a condo building right now and the HOA annoys even me! I don't want to be involved with that type of thing as an owner. What happens if homeowners aren't able to pay, are other owners expected to pay extra? -OP[/quote]
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