I'm bidding on an apartment

JPPJ84

Hobbes said:

Spiritual_Chaos said:

Hobbes said:

Spiritual_Chaos said:

Hobbes said:

Wouldn't Nordic design in Sweden simply be design?

That'd be like going out for Chinese food while visiting China.

So, what is your point? 

If I would want examples of "chinese food" I woudn't google "food" even with me being in China.

Someone pointed out they liked the Nordic design of your apartment.

My point? I often don't have one. 

Nordic (Scandinavian) design, is a thing:

Scandinavian design is a design movement characterized by simplicity, minimalism and functionality that emerged in the early 20th century, and subsequently flourished in the 1950s throughout the five Nordic countries: Norway, Sweden, Finland, Denmark, and Iceland.

Scandinavian designers are known especially for household goods including furniture, textiles, ceramics, lamps, and glass, but Scandinavian design has been extended to industrial design such as of consumer electronics, mobile phones, and cars.

The style @hedonist and @GlowGirl prefer is "Pippi Longstocking/Villa Villekulla design". Hehe.

*sigh* I know. My post was a humorous one, I thought. Maybe something was lost in translation. Or I'm not as witty as I think I am.

Don’t despair, Hobbes, I at least found it rather witty

Spiritual_Chaos

Hobbes said:

Spiritual_Chaos said:

Hobbes said:

Spiritual_Chaos said:

Hobbes said:

Wouldn't Nordic design in Sweden simply be design?

That'd be like going out for Chinese food while visiting China.

So, what is your point? 

If I would want examples of "chinese food" I woudn't google "food" even with me being in China.

Someone pointed out they liked the Nordic design of your apartment.

My point? I often don't have one. 

Nordic (Scandinavian) design, is a thing:

Scandinavian design is a design movement characterized by simplicity, minimalism and functionality that emerged in the early 20th century, and subsequently flourished in the 1950s throughout the five Nordic countries: Norway, Sweden, Finland, Denmark, and Iceland.

Scandinavian designers are known especially for household goods including furniture, textiles, ceramics, lamps, and glass, but Scandinavian design has been extended to industrial design such as of consumer electronics, mobile phones, and cars.

The style @hedonist and @GlowGirl prefer is "Pippi Longstocking/Villa Villekulla design". Hehe.

*sigh* I know. My post was a humorous one, I thought. Maybe something was lost in translation. Or I'm not as witty as I think I am.

Just couldn't resist to take the chance to get swedish Pippi Longstocking and her interior design into the thread.

hedonist

Hobbes is a wascally wabbit...I mean, tiger.

Pippi was a favorite of mine growing up. Perhaps that’s why? I dunno, just love (need) deep rich colors around me. 

Hobbes

I heart Pippi!

Meltdown99

I’ve been a homeowner since I was 23 ... nothing like it as far as I’m concerned.  Grew up in a single dwelling home...lived in apartment for 3-4 years hated it and decided to buy...never regretted it...and banks are always easier to deal with if times are tough than landlords, in my opinion.

I like having A yard and some space...

Meltdown99

The Juggler said:

That looks lovely. I am a loan officer over here so I curious how mortgages work in your country. Quick google search showed a 50 year term is popular....is that right? 

Also I would keep the wooden wall. That is called shiplap or something right? Cool feature. I'd even make it appear more natural wood looking too. 

Congrats. 

How expensive are home if you need 50 year terms?

Spiritual_Chaos

Meltdown99 said:

The Juggler said:

That looks lovely. I am a loan officer over here so I curious how mortgages work in your country. Quick google search showed a 50 year term is popular....is that right? 

Also I would keep the wooden wall. That is called shiplap or something right? Cool feature. I'd even make it appear more natural wood looking too. 

Congrats. 

How expensive are home if you need 50 year terms?

In Sweden the default is for the bank to have you pay back the mortgage in 600 payments. That is 12 payments a year during 50 years.

What is the default in Canada?

Meltdown99

Spiritual_Chaos said:

Meltdown99 said:

The Juggler said:

That looks lovely. I am a loan officer over here so I curious how mortgages work in your country. Quick google search showed a 50 year term is popular....is that right? 

Also I would keep the wooden wall. That is called shiplap or something right? Cool feature. I'd even make it appear more natural wood looking too. 

Congrats. 

How expensive are home if you need 50 year terms?

In Sweden the default is for the bank to have you pay back the mortgage in 600 payments. That is 12 payments a year during 50 years.

What is the default in Canada?

25 years is the term most homebuyers choose (especially 1st time homebuyers).  A few years back we use to have 30 and 35 year terms, these are no longer available...the 30 plus terms will need to come back eventually...home are selling fast and sometimes double over asking where I live (Windsor, Ontario area).  This area used to be very affordable...not any more.  And there is nothing special about where I live...just crazy...

I work with young folks who have given up hopes of home ownership?  I find that sad.  I have always enjoyed home ownership.  

Here in Canada, home ownership for most has always felt like a birth right...not anymore...

Spiritual_Chaos

So what is the mortgage rate/percentage on your mortages? 

Purple Fairy Tree

Not sure but I'm happy to be reducing the term everytime it gets renewed. 

hedonist

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

We’re paying 4.5% but some can be had for 3.5 or less - depends on many variables (including refinancing if we choose to).

Meltdown99

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

You can get a variable rate at 1.39% or fixed at 1.79%...thereabouts depending on the bank...interest on mortgages are cheap in Canada...

Spiritual_Chaos

Meltdown99 said:

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

You can get a variable rate at 1.39% or fixed at 1.79%...thereabouts depending on the bank...interest on mortgages are cheap in Canada...

There are a few variables, but this is pretty much the swedish levels too. 

I will have to pay the fee to the "tenant-owned association"
2% of the loan back per month (amortization).
Plus the mortgage rate which will fall between 1,25-1,6%

F Me In The Brain

Spiritual_Chaos said:

Meltdown99 said:

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

You can get a variable rate at 1.39% or fixed at 1.79%...thereabouts depending on the bank...interest on mortgages are cheap in Canada...

There are a few variables, but this is pretty much the swedish levels too. 

I will have to pay the fee to the "tenant-owned association"
2% of the loan back per month (amortization).
Plus the mortgage rate which will fall between 1,25-1,6%

I'm not the smartest when it comes to mortgages....we pay 3.6% on our loan, which for when we got it was good.

For Sweden...2% of the monthly loan payment goes to the tenant-owned association?

How much of your loan was provided by the bank, and how much by the tenant owned association?  (%s)  Do you know?

This seems very different -- and appears to be built to benefit the tenant owned association, vs. benefiting the bank, which I think would be great. 

Spiritual_Chaos

F Me In The Brain said:

Spiritual_Chaos said:

Meltdown99 said:

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

You can get a variable rate at 1.39% or fixed at 1.79%...thereabouts depending on the bank...interest on mortgages are cheap in Canada...

There are a few variables, but this is pretty much the swedish levels too. 

I will have to pay the fee to the "tenant-owned association"
2% of the loan back per month (amortization).
Plus the mortgage rate which will fall between 1,25-1,6%

I'm not the smartest when it comes to mortgages....we pay 3.6% on our loan, which for when we got it was good.

For Sweden...2% of the monthly loan payment goes to the tenant-owned association?

How much of your loan was provided by the bank, and how much by the tenant owned association?  (%s)  Do you know?

This seems very different -- and appears to be built to benefit the tenant owned association, vs. benefiting the bank, which I think would be great. 

Hmm. Maybe I explained it a bit muddled. And I do not know if "Tenent-owned assocation" is the right term - google gave me that one. 

It seems it can be called: "tenent-owned assocation", or "housing community" or "housing association" or "residents association" 

Basically, when buying an apartment you become part of the "organisaton" owning the building/buildings and you pay a "fee" every month that is being used to keep after the building, if repairs are needed, maybe the facade need a re-painting, pay back on loans that the organisation might have etc etc. The one owning my building (or I guess I am now co-owning by being member) has 300 apartments, while some can be just one building and be like 10-20 apartments big. And if I want I can join meetings and vote on things like "should we install chargers for electric cars on our parking lot?" or "should we change to a more energi efficiant window solution?"

The fee for my specific apartment, and to my specific association is 350 dollars a month. That included broadband and cable television. But not electricty.

Then, I need to pay back the loan to the bank with 2% (or 1% depending on how big of a percantage of the total cost of the apartment I loan, in Sweden the max is 85% so you need 15% of the total cost in cash) a month.

And then I need to pay the mortgage of 1,50% or whatever on the loan every month. 

Poncier

^ Basically like condo fees or HOA fees here in the US.

F Me In The Brain

Spiritual_Chaos said:

F Me In The Brain said:

Spiritual_Chaos said:

Meltdown99 said:

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

You can get a variable rate at 1.39% or fixed at 1.79%...thereabouts depending on the bank...interest on mortgages are cheap in Canada...

There are a few variables, but this is pretty much the swedish levels too. 

I will have to pay the fee to the "tenant-owned association"
2% of the loan back per month (amortization).
Plus the mortgage rate which will fall between 1,25-1,6%

I'm not the smartest when it comes to mortgages....we pay 3.6% on our loan, which for when we got it was good.

For Sweden...2% of the monthly loan payment goes to the tenant-owned association?

How much of your loan was provided by the bank, and how much by the tenant owned association?  (%s)  Do you know?

This seems very different -- and appears to be built to benefit the tenant owned association, vs. benefiting the bank, which I think would be great. 

Hmm. Maybe I explained it a bit muddled. And I do not know if "Tenent-owned assocation" is the right term - google gave me that one. 

It seems it can be called: "tenent-owned assocation", or "housing community" or "housing association" or "residents association" 

Basically, when buying an apartment you become part of the "organisaton" owning the building/buildings and you pay a "fee" every month that is being used to keep after the building, if repairs are needed, maybe the facade need a re-painting, pay back on loans that the organisation might have etc etc. The one owning my building (or I guess I am now co-owning by being member) has 300 apartments, while some can be just one building and be like 10-20 apartments big. And if I want I can join meetings and vote on things like "should we install chargers for electric cars on our parking lot?" or "should we change to a more energi efficiant window solution?"

The fee for my specific apartment, and to my specific association is 350 dollars a month. That included broadband and cable television. But not electricty.

Then, I need to pay back the loan to the bank with 2% (or 1% depending on how big of a percantage of the total cost of the apartment I loan, in Sweden the max is 85% so you need 15% of the total cost in cash) a month.

And then I need to pay the mortgage of 1,50% or whatever on the loan every month. 

Good explanation, makes total sense now.

What we call that in the US is HoA, or Homeowners Association, Fees.  (May be other names for it, but this is what I always see it as.)

So, yes - if you live in a gated community or a development subject to a HoA, you would have fees here, as well.  $350 sounds about right -- we did look at one spot in our town right on a golf course but my wife and I both shuddered at the idea of belonging to a HoA and having to deal with other people telling us how long our lawn could be, what color our shed could be, who could park in front of our house, etc.

I would accept this if this was the best option but luckily we had many options and could choose a spot where we get to decide those things and I don't need the approval of four cranky fucks in their 80s.  [A stereotype for HoA leadership is generally retired folks because....well, people who work tend to have less time to obsess about things like parking distance from the curbs, or someone leaving their trash cans out for pick up a day too long after collection.]

Hopefully, your HoA is made up of decent folks just working together to try and keep everyone in a good living space.

dankind

F Me In The Brain said:

Spiritual_Chaos said:

F Me In The Brain said:

Spiritual_Chaos said:

Meltdown99 said:

Spiritual_Chaos said:

So what is the mortgage rate/percentage on your mortages? 

You can get a variable rate at 1.39% or fixed at 1.79%...thereabouts depending on the bank...interest on mortgages are cheap in Canada...

There are a few variables, but this is pretty much the swedish levels too. 

I will have to pay the fee to the "tenant-owned association"
2% of the loan back per month (amortization).
Plus the mortgage rate which will fall between 1,25-1,6%

I'm not the smartest when it comes to mortgages....we pay 3.6% on our loan, which for when we got it was good.

For Sweden...2% of the monthly loan payment goes to the tenant-owned association?

How much of your loan was provided by the bank, and how much by the tenant owned association?  (%s)  Do you know?

This seems very different -- and appears to be built to benefit the tenant owned association, vs. benefiting the bank, which I think would be great. 

Hmm. Maybe I explained it a bit muddled. And I do not know if "Tenent-owned assocation" is the right term - google gave me that one. 

It seems it can be called: "tenent-owned assocation", or "housing community" or "housing association" or "residents association" 

Basically, when buying an apartment you become part of the "organisaton" owning the building/buildings and you pay a "fee" every month that is being used to keep after the building, if repairs are needed, maybe the facade need a re-painting, pay back on loans that the organisation might have etc etc. The one owning my building (or I guess I am now co-owning by being member) has 300 apartments, while some can be just one building and be like 10-20 apartments big. And if I want I can join meetings and vote on things like "should we install chargers for electric cars on our parking lot?" or "should we change to a more energi efficiant window solution?"

The fee for my specific apartment, and to my specific association is 350 dollars a month. That included broadband and cable television. But not electricty.

Then, I need to pay back the loan to the bank with 2% (or 1% depending on how big of a percantage of the total cost of the apartment I loan, in Sweden the max is 85% so you need 15% of the total cost in cash) a month.

And then I need to pay the mortgage of 1,50% or whatever on the loan every month. 

Good explanation, makes total sense now.

What we call that in the US is HoA, or Homeowners Association, Fees.  (May be other names for it, but this is what I always see it as.)

So, yes - if you live in a gated community or a development subject to a HoA, you would have fees here, as well.  $350 sounds about right -- we did look at one spot in our town right on a golf course but my wife and I both shuddered at the idea of belonging to a HoA and having to deal with other people telling us how long our lawn could be, what color our shed could be, who could park in front of our house, etc.

I would accept this if this was the best option but luckily we had many options and could choose a spot where we get to decide those things and I don't need the approval of four cranky fucks in their 80s.  [A stereotype for HoA leadership is generally retired folks because....well, people who work tend to have less time to obsess about things like parking distance from the curbs, or someone leaving their trash cans out for pick up a day too long after collection.]

Hopefully, your HoA is made up of decent folks just working together to try and keep everyone in a good living space.

We bought a co-op apartment in Brooklyn, and my wife was on the board. S_C's situation sounds similar.

hedonist

Read the associations' by-laws, if you can - perhaps you have access to those?  You may be assessed down the road for special or one-time costs (upgrades, damage, etc.) not included in the standard amount.

Ours is almost $700 a month!

Spiritual_Chaos

hedonist said:

Read the associations' by-laws, if you can - perhaps you have access to those?  You may be assessed down the road for special or one-time costs (upgrades, damage, etc.) not included in the standard amount.

Ours is almost $700 a month!

How big is it? I mean, mine is just 35,5 square meeters. For me and the cat