Moving to a Small Condo

11 years ago

I am selling my house. An opportunity just arose to buy a small condo. It is a great, highly desirable location, and top floor in a 35 unit 10 year old building. Walk to everything and 1 mile from my work. Outside balcony. Cost is perfect, and association dues are low.

Here's the rub. It is small! 950 sf, one bedroom, one bath, a storage room with furnace, boiler, washer/dryer, one big room that serves as kitchen living room, dining room. Little to none of my furniture will fit. I could furnish the whole thing anew with, say, a Pottery Barn vibe. That would be fun! But part of me is absolutely balking at leaving behind my antiques, etc. I'd have to downsize dramatically.

Boy, am I torn on this! I am 58 and single. On the one hand this might be the perfect time to downsize into a truly lock and leave place where I will certainly feel secure. On the other hand so much of my identity has been focused on old houses that a contemporary condo both is a thrilling and scared idea! And can I live in such a small place? It is true that I only use 3 or so rooms in my current house on a regular basis.

Just don't know how to make this decision. The alternative would be to keep waiting until another larger place comes up. But again this one has a whole lot going for it including high resale value.

Featured Answer

wanda_va

11 years ago

It's a decision that only you can make. My brother lives in a one-bedroom condo (he's had it for 13 years). It is 900 square feet; he really would like to have a two-bedroom unit, and is waiting for one to come up for sale in his building. He loves condo living and his building (right on the ocean in Florida), but has found that it can be expensive--he just got notice that he owes a special assessment of $42,700, for major improvements/repairs to the building (it is 40 years old). You should meet with a member of the condo association to discuss fees. My brother didn't realize when he bought the condo that there was no reserve fund for repairs (that was done to keep the monthly fee lower), so any repairs require a special assessment.

I personally would go crazy in a one-bedroom condo...but I am a quilting addict, so I need space for my quilting stuff--and I'm a little bit of a packrat, too! Good luck with your decision!

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Comments (34)

lucillle
11 years ago
Small is good. Easy to take care of, and lets you focus your energies on other things. I would be perfectly happy with 700-800 sf.

There is a season for everything, if you really need your antiques then wait, otherwise move on. No one can make the decision for you, but it sounds like a whole new adventure is waiting to happen in your life.
User
11 years ago
Agree, small is good. Downsizing is all the rage right now, including this "tiny house" movement. Humility is a very good thing!

Is it possible to rent your current house, buy the condo, and "test out" the condo life for a year or two? That way, if it's not for you, you haven't lost your home or heirlooms and can move back to your current house of find an old house you love.

And if the rental/condo thing works out, it's always nice to have a rental property to provide income for you in your retirement.
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murraysmom Zone 6a OH
11 years ago
I'll be very interested to see which way you go. I, too, only use a few rooms in my house, but I do have a lot of stuff, including antiques that would be difficult for me to choose between. I have been thinking about downsizing as well but it seems overwhelming to me. I live in a very nice neighborhood and have great neighbors, plus I have dogs and a cat, so I know a condo wouldn't work for me. Your possible condo sounds really nice. Wanda makes a good point to learn everything about it beforehand and if you could keep your house, it would be ideal. Good luck. I'll be watching for your decision.
Rudebekia
Original Author
11 years ago
A special assessment of 42,700! That seems incredible Wanda. I do know of occasional special assessments but the most I've ever heard of is $5000.

Yes, iI will certainly be asking questions about the association ahead of time.

I do have pets--two elderly cats.

Unfortunately I need to sell my house before buying. I really don't want to be a landlady and really don't want the burden of two houses. An alternative might be to rent a storage unit for at least awhile so as to take my time sorting through and getting rid of stuff.

I am pretty conflicted on this!
Georgysmom
11 years ago
If you are pretty conflicted over this, it's probably not the right thing to do just yet. 58 is pretty young. I have two friends that made the decision to move to a small condo (but by the sounds of it, bigger than yours) and they are very happy with their decision. However, one was in her late 70's and one in her 80's. You have quite a ways to go yet.
User
11 years ago
"When in doubt, leave it out."
User
11 years ago
950 sq ft isn't that small. My last house was that size and there were 3 of us living there. What if you lived in a "tiny house" under 200 sq ft? Small is good, less cleaning and up keep. The condo sounds great to me.
socks
11 years ago
You are just a "kid" of 58, but is there an elevator to the condo? Groceries, etc. will have to go up 3 floors. Do you ever have overnight guests (might be difficult with 1 BR). If you had an extra BR you could have an extra place for guests and maybe your computer, books, crafts, whatever you enjoy. Are you used to a yard and might feel the loss? The balcony is nice though.

Top floor is good, no foot noise from above you. If you live in a hot summer area, your A/C will cost more than a second floor place.

I can tell you are agonizing over the decision. Do you have family or friends who you could share with? I would hope you could keep a representative group of your antiques and favorite "stuff." Taking your time to sort through it in a storage place is a good idea. Keep us posted.
Chi
11 years ago
Since you're conflicted, I would wait. I don't think one bedroom condos sell as well as 2+ bedroom so that's something to consider unless you think it will be your forever home. With a 1/1, it's hard to have any guests over because you both will feel like you're invading each other's space.

You're the only one who can make that decision, but if I were in your position, I would hold off until something a little bigger comes along.
Rudebekia
Original Author
11 years ago
Yes, socks there is an elevator and heated underground parking.I don't have overnight guests ( maybe 3 over the last 25 years!) but if this place had a second bedroom I wouldn't be so conflicted. Still, there are many good points that I wonder whether the compromise is worth it. Our summers are getting hotter and one good thing is that the place is air conditioned--I've never had it before. Much more important here in the frozen north is heat, and heat rises.

Although I am "only" 58, healthy and active, I so despise moving that to anticipate doing it again at 70 or even 80 is too much! I just wonder whether this is the time. My realtor says that in her opinion this is a place I could live in until the nursing home!

I'll say that my travels in Europe have made me comfortable with small, efficient places. A friend of mine who downsized to a small condo says it makes her get out more. Btw, there's a favorite coffee shop on the first floor that is a wonderful hangout with big fireplace and cozy chairs. I've spent many Sunday's reading the paper there. So it could function almost like a second living room.

I do have friends and family but the only thing they tend to tell me is do what I want! I wish I knew what I want!
lucillle
11 years ago
I would also investigate the history of this particular building, and pay for a consult with an attorney that specializes in condo law not only for his/her expertise but for his/her experience in assessments to see what you might be looking at up the road if you bought the one you want.
Rudebekia
Original Author
11 years ago
Just to add something important. The area I want to live in mainly has condos in big old homes, with associations of 2-6 people. These so called converted mansions can be lovely but come with all the headaches of old houses coupled with the expenses and issues of small associations. So there are hardly any contemporary condo units and the few that come up are snatched right away. I would prefer to wait for a two bedroom--but it might be years.
Michael
11 years ago
If you're not handy or have close association with someone who is, don't plan to keep a rental as retirement income. I sold off three of our properties and put the cash in a retirement income fund that has a history of 7% return. Rental properties can enhance your income, but not if/when you'll be hiring out expensive contractors to make repairs, improvements, lawn maintenance etc. And that will happen. After I retired last July, I opened a Handyman Service and we are busy 7 days a week. My best/most frequent customers are landlords. I love emergency service calls. :)
golfergrrl
11 years ago
Sounds wonderful. Get rid of "things". Go for it.
ravencajun Zone 8b TX
11 years ago
I am going to throw another thought in. Could you possibly move away from that area to some other location with better housing options in a few years? What is holding you there? If so I would consider doing that. In the meantime live in the house and take advantage of this time to selectively begin down sizing your belongings. It's much easier to do that in the house than from a storage unit. I have a friend who is going through the storage unit hell right now because she didn't down size prior to buying her much smaller house.

Start selling the antiques you can part with now and work your way to the more difficult to release ones. Down size your life now and be ready for an easier transition so you dread it less.

I down sized a lot with each move we made, wanted to down size home size this last time but ended up with a bigger house. I have less stuff though so that's better. Just need to continue with the weeding out of the stuff that I can let go. It gets easier after you have moved it a few times! I don't know if this is our forever home or if we will move after my husband retires but I know I don't want to have this much stuff any more. We did a major clean out of all the kitchen cabinets yesterday and I am thrilled with the results. Plus I have several big boxes of stuff to donate to our garden club sale next month. A win win.

So either way you go start getting selective now with your belongings! Personally I don't think you are ready.
User
11 years ago
Every condo or even gated community eventually needs improvements and the residents pony up. If you don't want a huge one time fee getting handed to you later on maybe a condo isn't a good fit. It wouldn't be for me.

The size of the condo sounds fine. Very doable. I just wouldn't want anyone else controlling the place I live in. When I do go into assisted living I'll be giving up all my independance in exchange for full time care.....I'm not there yet.
Yayagal
11 years ago
If you had enough money for the down payment, then you could either live there or rent it out without selling your home. Another scenario is renting your home and living in the condo. I don't think 900 sq ft is too small for you. I went from a huge house to a 1500 for two people and we still only use three rooms and I live in the sun porch in good weather. Which living quarters would appreciate more? Which one would be the most budget friendly? The beauty of the condo is you have no worries, you can travel and be absent knowing everything is okay and that's a huge stress reliever.
As for the antiques etc, I had a treasure trove of them and sent them all to Sotheby's. I don't miss them at all. We purchased all new furniture and scaled back of accessories and I love it. My sister did it at age 57 and has loved every minute of it, she can walk out the door and go shopping etc. She loves having the elevator and, she too, sold her big house. I wish you well. Let us know how you decide.
cat_ky
11 years ago
I have been considering selling my house too. Its just me now. I have 2000 sq ft. I could probably live in 950 sq ft, but, I would never be happy there, if I couldnt bring most of my belongings with me. So many of mine are family pieces, from my family, or my husbands family. I also think, that although, it would certainly be easier to clean etc, that I would get very bored if I didnt have outside space of my own, to plant flowers, and really call my own. Having a larger place, and an outside area, is actually good for people, so they dont just sit around and get old before their time. I just turned 76 this month, and I find myself busy all the time.
Fran
11 years ago
It sounds like you're not quite ready to make this move and in my opinion 900 square feet is really small. A few years ago I saw the condo I wanted but couldn't really afford to buy it until I sold my house. By the time I got ready to sell the house the condo was no longer available but I downsized and moved into a two bedroom apartment in a converted loft building. I lived there for two years and loved every minute of it. Then one of the condos came on the market and I bought it practically on the spot. Although I did have to move twice, I took my time cleaning through 35 years worth of stuff before listing the house so the second move was relatively easy. You'd be surprised how unimportant stuff really is. Location and convenience are really important however. Are there any two bedroom condos in this building that might be worth waiting for? If so it might be worth renting in the meantime.
chisue
11 years ago
DH and I live in a 2900 sq ft house. We are OK for three months in a 849 sq ft condo, but it's ground level in a balmy climate, and there is a 200 sq ft lanai. This would never work without the two full baths. We would not be happy there full time *as retirees* -- not going out eight hours a day, M-F.

Neither of us has ever lived where we couldn't step outside by opening a door. (Do you ever see anyone *using* a balcony? They are mostly decorative, and the condo by-laws probably limit what can be on them.)

Our Maui condo was our first experience of 'community living' since college. Although you are not hiring or firing workers, you are paying a monthly fee to let others make those decisions, whether you agree or not. I'd also be concerned that having only 35 owners could leave you vulnerable. What if one or two default? Our complex is 316 units; a few bankruptcies and a market crash didn't have a huge effect on finances. May owners lease their units?

I can see you in 'a condo', but I think this is too small, too soon. As for the antiques, they are of the past. A few small pieces can be just as lovely as rooms and rooms full of them. You really can't have 'a fresh start' if you haul all of that with you. If they are going 'out of sight' into storage...why not just sell them and skip the storage costs?
Fun2BHere
11 years ago
We've lived in 1,000 square foot spaces for most of our adult lives until about 15 years ago when we bought our first house. If the layout works for you and there is clever (and enough) storage, I think you will probably like the ease of condo living. See if you can visit the unit in the evening or on a weekend so you can hear the environment at its noisiest.

As others mentioned, you really must review the condo documents and reserve analysis to assess your risk of special assessments and bad management.

As for giving up your treasured possessions, perhaps you could hire a decorator to assist you in designing your new rooms with a new look that incorporates a few choice items.
Elmer J Fudd
11 years ago
Take a short vacation, even over a weekend, and find someplace nearby where you can rent a 950 sq foot condo. Check out VRBO to find something. See how you like it, do you find it has enough room?
socks
11 years ago
One other thing I thought of: Compare neighborhood noise between your house and the condo. Traffic noise can sure be bothersome if you aren't used to it and could be louder in a higher up unit.

Chisue, I like your thinking.
joaniepoanie
11 years ago
Perhaps it would help clarify things by putting pen to paper and doing an old fashioned pros/cons list. It makes a difference seeing it written down instead of going back and forth in your head. And very wise advice to fully investigate the condo by-laws,etc.
linda_in_iowa
11 years ago
It sounds like you are not ready to move yet. I have been in my 963 sq ft house for over 9 years now. I have 2 small bedrooms and 1 bath, kitchen, living room and dining room/family room. The living space is plenty big enough but there is a lack of closet space. My home was built in 1933 and has been remodeled and enlarged. I have no place to store my vacuum, and I would sure like space for a pantry. I do have an unfinished basement and a two car garage.
kathleen44
11 years ago
Moving from houses to condos furniture is huge and it means getting rid of it and downsizing like anything else and getting furniture that will fit and can't keep those huge ones. I moved from house to condo but I only lived in bottom on small suite of parents house and I have lost a nice kitchen to this one the pits, can't hardly use it, its not useable for me. The bathrooms are not at all what I would have liked either. Closets are the pits too.
And I didn't get to choose this condo, had to move in and that was it. The storage is the pits too, a storage locker that its full of pipes and so only have a bag and christmas tree in it, unuseable it is.
The sun shines fully on it and so last fall felt I lived in a sauna and it wasn't fun at all and sweating all the time.

I don't like looking at a fence, its on the first floor, would like one that is higher up where live is to be seen.

So many are shocked at how small it is after living in a nice house with space.
Its normal unless you can afford those over million ones at least here with tons of space,etc. in it.

Even the new townhouses we have here is too small and I looked at one years ago just to see what it looked like inside it and shocked, no living room really and nothing would fit in there and tiny kitchen table stuck understairs and I mean tiny table. The laundry room was the biggest room I could see in it. Storage is underground with the spiders, ugh.

kathy
Annegriet
10 years ago
Cassandra,

Did you make the move? If so:

How did it go?

Are you happy?

Was it difficult to give up your antiques?

Do you miss your house or antiques?

What do you see as the pros/cons of condo living?

Do you have a pet?

Can you hear your neighbors?

Do you go out more now?

Sorry for so many questions. I just looked at a 965 sq foot apartment with balcony in a high rise. I will always have a dog so that is a concern for me. I am 48--also single---and will someday be without family. I was thinking that a condo might be a good choice for me--you can take taxis to doctors, etc... I currently have a house in the city but it sure is a lot of work--I have a yard as well.

Thanks for your input/advice.
Annegriet
10 years ago
Cassandra,

I should have kept reading--I can now see that you did move. Loved the photos of your condo! Any answers to how it is going, what you like/don't like--would be so helpful.

Wow--I am feeling inspired!

Thanks,

Anne
dandyrandylou
10 years ago
Cassandra: Many who are much older than you wait too long to make the decision to downsize. Like many things in life it is not the greatest joy, but I believe you will find that even your family antiques will not be missed. Have you family who would enjoy them? After downsizing from a house to an apartment I feel I will never be quite as content as I am an outdoor person and enjoy lots of light and space. However, life is one adjustment after the other and we must take it as it comes. Best of luck to you and courage in making the decision.
eld6161
10 years ago
Where are the pictures? I know this is an older thread, but now I'm curious.
Annegriet
10 years ago
Me too!
kathleen44
10 years ago
Moving from a house to a condo, you must get rid of large size furniture if no space for anything. My condo I have has two bedrooms and nice size master bedroom so I was able to bring most with me except for my mothers cedar chest.

The second bedroom turned it into tv/computer room and I have lots of furniture it it and its small too.

The living room I have three bookcases and my grandmothers hutch and room full of boxes and bins that have been slowly going through.

Horrible kitchen as its useless.

Laundry room is off of kitchen and I have a book case in there to put things on.

I use this other closet by front door and stock up items like pantry and stuff and put my pull cart bag inside it.

I have my parents front entrance table which is so handy top put keys,etc. down on it.

But so many do have to downsize huge and also get rid of their furniture and buy small size that fit nicely in condos.

I found moving here, I kept coming and measuring to see if and what would fit that I could bring.

And it all fit nicely which I loved alot.

kathy
cacocobird
10 years ago
I downsized to renting a condo to be closer to my daughter. This was her idea. It has one bedroom, and it's about 600 square feet. I had to give away so much because there was no room. It was very upsetting for quite a while.

I like the place now, and I'm glad that I did it. I still wish I had another bedroom, and a dining room, but I'm managing.

Moving to a Small Condo

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