The Lofts at Brownwood

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Old 02-07-2020, 10:58 PM
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Apartment complexes can be future condos. It was a pretty common event in the Chicago area. (as a subnote there has been a trend lately to reconvert them back to rentals).
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Old 02-08-2020, 05:04 AM
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Apartment complexes can be future condos. It was a pretty common event in the Chicago area. (as a subnote there has been a trend lately to reconvert them back to rentals).
I wonder how long that would take to happen. Considering the average of TVers, maybe most might not live long enough to see these apartments convert to condos.
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Old 02-08-2020, 05:38 AM
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IMHO, most people who would consider downsizing, are persons who lose a spouse--when this happens lots of times there is a severe income loss too--if your house is paid for, you will lose a significant cut in lifestyle if you become a renter in the lofts
I know woman who had to leave TV when her spouse passed and another woman who has to rent her house one month in order to live here--another aspect of high rise living, which we experienced was having to haul every thing up in an elevator & then haul it down a long hall way--In Cary our condo had a multi-level parking deck & we could park fairly close to our unit--in Palm Coast we had to take everything up 8 stories & walk down a 200' walk way-- a real pain
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Old 02-08-2020, 03:31 PM
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We have friends who lived on Palmer sell their 4000sf home, and move to the assisted living. They do not need the assistance. No up keep, have amenities, just leisure. But they are paying over $4000 a month. Not sure of their SF, but they are looking at the Lofts for much less money.
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Old 02-12-2020, 08:31 PM
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Originally Posted by tghoul View Post
First units available approximately June 1st.
>>> One yr lease.
>>> One bedroom starts at $1650
>>> 2 bedroom starts at $2145
>>> 3 bedroom starts at 3195
>>> Plus utilities and $162 amenities fee.
>>> Renewable after one year at prevailing rate.
Not bad, thought they would be higher than that
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Old 02-12-2020, 08:39 PM
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Originally Posted by pauld315 View Post
Not bad, thought they would be higher than that
In addition to the basic rent, they estimate an additional $355 per month for the amenity fee, electric, water, sewer, trash, and basic cable TV.
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Old 02-13-2020, 08:11 AM
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I think you don't get much for a lot of money.
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Old 02-13-2020, 08:46 AM
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Here is an estimated comparison of a 1014 SF, 2 bedroom apartment to a 2 bedroom courtyard villa:

Rent, $2,145 x 12 = $25,740
The Lofts estimate for amenities, electric, water, sewer, trash, cable, $355.25 x 12 = $4,263
Total cost, $30,003

CYV costs for the same items:

Tax bill, $3,800
Electric, $85 x 12 = $1,020
Water, sewer, trash, amenities, $225 x 12 = $2,700
Cable (same as The Lofts estimate), $60 x 12 = $720
Yard maintenance, $60 x 12 = $720
Total cost, $8,960

These costs do not include mortgage interest, investment costs, or appreciation for the CYV.
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Old 02-13-2020, 08:59 AM
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Another aspect about apartment living--vermin--one unit gets roaches--everyone will have them sooner or later--and you haven'r lived till you had to make a trip to the communal trash compactor that's filled to overflowing-some condos/aparments have trash chutes--they work better than a common compactor site--gross
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Old 02-13-2020, 10:10 AM
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Seems like a lot of money to live in a closet.
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Old 02-13-2020, 10:25 AM
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Quote:
Originally Posted by retiredguy123 View Post
Here is an estimated comparison of a 1014 SF, 2 bedroom apartment to a 2 bedroom courtyard villa:

Rent, $2,145 x 12 = $25,740
The Lofts estimate for amenities, electric, water, sewer, trash, cable, $355.25 x 12 = $4,263
Total cost, $30,003

CYV costs for the same items:

Tax bill, $3,800
Electric, $85 x 12 = $1,020
Water, sewer, trash, amenities, $225 x 12 = $2,700
Cable (same as The Lofts estimate), $60 x 12 = $720
Yard maintenance, $60 x 12 = $720
Total cost, $8,960

These costs do not include mortgage interest, investment costs, or appreciation for the CYV.
CYY missing many costs - Replacements- roof, air condition, paint(in and out) Homeowners ins. , loss of investment return on home price. Total costs $8960+++++
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Old 02-13-2020, 10:31 AM
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The good news is that only those that want to live in the Lofts will live there.....and I doubt any of them will care what others think. It still amazes me how many on here can always find something negative yet, I assume, still stay here.
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Old 02-13-2020, 10:33 AM
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You still need insurance in an apartment, and possibly interior paint.
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Old 02-13-2020, 10:37 AM
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I don't think comparing costs is being negative.
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