I know many of you are wondering what the heck is going on with my condo!? Well, I finally have some news to share as they have finally broke ground... sort of. They're clearing the way to break ground and have fenced off the area, so, that's the same, right?
When I purchased my condo in July of 2012, it was planned to be ready for this coming November. However, since it's a new build, it's not uncommon for these things to be pushed back--which it was, until June 2015.
This past Fall, I went in to see if there was any way to get out of my contract and ultimately get my money back. I even had my Lawyer confirm that it was not possible and so, the best way to look at this in an optimistic way, which is as an investment property.
About two months after I signed on the dotted line, I met Marco, and as you know now, we are moving in together. I don't see us moving into my condo once it's ready, as it is significantly smaller than the place we are going to in just over a week, but I'm hoping I will be able to rent it out instead. If that is not financially feasible when the time comes, then worst case scenario I will sell it. Either way, I just have to wait (and of course document the progress on here with you guys) for another year an a bit.
Here are a few photos from last weekend and the 'progress' so far...
Remember when it was summer & this was a field behind me?
Would love to see a post on how you and Marco met! (he's keeper with all the food that he cooks for you) :)
ReplyDeleteYeah, contracts sometimes have that explicit language on what you can and can't do. Calling up a lawyer before actually doing anything actually saved you sums of litigation money. Well at least you still have options on what to do with your condo, so all should still be well!
ReplyDeleteAnnette Fontana @ ForumLaw.com.au
It seems like yesterday when you first started your condo hunt. And now, you’re standing on the place where it will be build. It’s not the common setup, but just like what your lawyer said, it is a good investment for you. Anyhow, June is just a few months from now, so I hope everything is progressing smoothly.
ReplyDeleteSean McCrory @ Graham Commercial Real Estate