Reply to Thoughts on this Co-op in Cleveland Park?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My one bedroom coops was well run and common charges were $579 a month on 1999.

A coop is responsible for way more than a condo. Mine has included, water, heat, gas, property taxes, and lots of repairs covered by coop more than condo.

We had 86 units.We did not allow washers in units or have central air. The coop paid majority of insurance and repairs.

86 washing machines would be a nightmare of water leaks and higher insurance. We had through the wall AC units as coop old and we did not want to maintain AC and lay electric.

We had two beautiful laundry rooms and any profits went to subsidize common charges.

My wife moved in when married and like she was unsure of a shared laundry room. Within two weeks she was I love. She could do three loads sane time, dry three loads same time. We had massive folding tables, even irons, a bathroom and chairs. We were elevator building and we had a laundry wagon.

What took her all day in her apt with a washer dryer in unit now went way way quicker. It’s just different [/quote]

This is what I'm saying, $600 and they're only including water? The rest of the things included are fluff. For that amount, I'd want all utilities included. [/quote]

Where are you getting that it only includes water? It will definitely include insurance, building repairs and upkeep, landscaping, and trash. Also maintenance of building security systems (no doorman but there are coded door locks and intercoms -- these are not free). As well as maintenance of the laundry facilities (yes on one hand you have to do laundry in the laundry room, on the other hand you don't have to pay for your laundry units or their maintenance or upkeep). It's actually a lot. You are not paying $600/mo for water.

Gas and heat will be fairly small for a unit of this size. There are sizable efficiencies for heating a building like this and in DC you may barely turn it on in the winter (I lived in a similar building in Woodley Park years ago and I rarely turned on my heat except during snow storms). Gas will be next to nothing.

So many people don't understand that condo fees pay for a lot of things that you would otherwise have to pay for yourself and it would cost a lot more. It's not a meaningless charge. There are a lot of expenses associated with home ownership, and a condo or co-op fee spreads them across multiple owners which can actually save you a lot of money in the long run.

My condo building had to replace the roof membrane on our building. It cost 18k. It was partially covered by insurance, paid out of the condo fund, and the building was able to finance the remaining amount from the reserve fund. So my building got a new roof and I paid nothing extra. If I owned my own house, I would have been out 18k.[/quote]

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