I just got back from New York and New Jersey. My sister bought a
beautiful condo in Jersey and I went to visit. She showed me
around the community. Her specific condo building was in
fantastic shape. Carpets in the hallway looked great. Walls
looked good. Handsome to say the least.
We then went to the main clubhouse. Beautiful. Pool room
looked dignified. Wood floors, neat and clean. Exercise room
had nice equipment and the room was in great shape.
My sister then tells me she was told an assessment is coming
because the board wants to completely re-do the hallways and the
clubhouse. I was surprised to say the least. She told me that
the Boardís attitude is that the place hasnít been updated in
about a dozen years and that even though it doesnít look bad,
itís time to update everything. Whatever is spent on remodeling
will be recouped upon sale of your home. The condo needs to be
in tip top shape. No exceptions.
This really got me thinking. I can tell you that most boards
would not have updated this condominium. It really doesnít
ďneedĒ it. Iím not saying it canít look better, but it really
did look fine.
Typically, the reverse happens. The place is falling down.
Paint is peeling off the walls. The carpet is worn. There are
holes in the walls. The furniture is old. Yet, the board wants
to keep assessments low and leaves these repairs or
modifications for another day and kicks the can down the road.
Which type of community would you rather live in? Which type of
Board is better for the community? One which may over spend,
but makes sure the place is in great shape? Or, one which
pinches pennies and is content that the paint on the walls is