Apartments for Cheap

Questions and Answers

Your Questions About Luxury Apartments

August 3, 2013

Carol asks…

Why is there social housing in luxury areas?

I walked past an upmarket area in London the other day and saw that there is a new social housing development.

Why are these placed in very nice areas? The area is one where 2 bedroom apartments cost 500k to 800k.

Administrator answers:

Because it’s the law.

No new builds are allowed to be carried out in London on a large scale unless a certain percentage of it is given over to low cost / social housing. This stops the market being totally saturated with luxury flats and pricing key workers out of the market.

William asks…

Parking a nice custom hearse at my luxury Apartment in California. Can I be evicted for this?

well can I is there a law that states somewhere that the landlord can evict me for driving a morbid vehicle? If thats the case I’ll park my Sherman in the carport with flake blood and heads all over it.

Administrator answers:

Probably not but I would check my lease for more catch all provisions such as ” you can’t do anything to negatively effect the image of the building”. That is where they might get you.

Charles asks…

What do we need to know when buying a motor home?

My husband and I recently married in March. We moved out of our apartment in hopes of buying a home. Only to find out that we are considered “punk kids” in the finance industry! We were considering buying a motor vehicle and making it our home until we could save a more substantial down payment. Is it possible to save and own a “parked” motor home? What are the downfalls/gains? Have I lost my mind?

Administrator answers:

Are you planning on paying cash for the motor home? I ask because financing an RV is much more difficult than a home mortgage. The lenders consider an RV a luxury item, not a necessity, something that you might default on first if you run into future financial troubles. Most RV buyers are tier one applicants with a beacon score over 700.

The second thing to consider is that RV’s are not built to withstand the daily use of a home. They are mechanically fragile, to the point that you will find the need of mechanical know how to trouble shoot problems often from the unique 30 amp electrical system, your water system, and appliances. RV’s were originally built to withstand an infrequent weekend use, and to full time in it would cause it to deteriorate much quicker. That’s why FEMA finds that a large majority of their trailers used for temporary housing are worth nothing after a couple years of full time use.

My knowledge of this comes from owning an RV company in Louisiana.

Laura asks…

Why is there social housing in luxury areas?

I walked past an upmarket area in London the other day and saw that there is a new social housing development.

Why are these placed in very nice areas? The area is one where 2 bedroom apartments cost 500k to 800k.

Administrator answers:

They seem to do that a lot these days. Its ok as long as they don’t put manky folk in there to lower the tone.
I had a brand new housing association house a few years ago and the area looked lovely, sadly after a while it got so run down with pople who did’nt give a toss and there kids wrecking everything. I ended up moving.
I cannot wait till i am in a position to buy!

Nancy asks…

Why wasn’t Bernard Madoff held in detention awaiting trial?

I’m in Ireland and over here our system isn’t as “harsh”as the American criminal justice system (our system is too soft actually)however knowing that someone in the US who steals $100 can be held in detention awaiting trial unless they can make bail then how come Madoff is being confined to his luxury apartment after being unable to make bail?! It reeks of one rule for the rich and one for the poor. Maybe he used to play golf with the judge?

Administrator answers:

Rich and greedy get rewarded.

Michael asks…

How good is a gross salary of $125,000 in the US (east coast)?

Will this cover monthly expense (of reasonable luxury, say a 2 bed apartment for a family with two kids aged 5 & 2) after taxes? Will there be any savings at the end of the day?

Administrator answers:

Take home will be 83,750 per year =$3,489 every two weeks.
Figure from there.

My advice get a reasonable apartment, luxury apartments are costly. Save to buy a home instead.
It is not how much you make, it is what you do with it as well.

Lizzie asks…

GIRLS Is the businessman look with an expensive suit, luxury car and reputable career attractive to you?

Are you attracted to men who have:
- the ‘businessman’ look
- a luxury car
- a reputable career
- a large modern home or a modern trendy apartment in an
upscale suburb
- considerable wealth
- the capability to fly with you anywhere in the world
Then which kind of guys do you like? I thought everybody liked businessmen .

Administrator answers:

No, for 3 reasons:
1. He gotta be hot, not just have cash.
2. Contemporary is WAY better looking than modern.
3. I never plan on flying anywhere in my entire life.

Donald asks…

How can I purchase a LUXURY condominium in Rio de Janeiro?

I’ve been traveling for several years to Rio de Janeiro and want to invest in a luxury condominium (around US$400,000) to use during my trips there and rent while I’m away. While I’ve looked all over the internet, I’ve found no companies that offer a true “luxury” condo for sale (imagine a property similar to a suite at a Ritz Carlton – plasma flatscreen TVs, marble flooring, beautiful bathrooms, etc.). It seems that “luxury” in Rio means a 13 inch Samsung TV and a tiled bathroom from the 1980s. Also, I’m looking for a credible firm (ideally one that owns multiple properties, rather than a single unit for sale) that offers title insurance. Any ideas on the best company to use to buy a luxury condominium in Ipanema or Copacabana?

Administrator answers:

As I read this question (and the posted answers) I got an increasing sense that this question is solely posted to advertise a particular company. I could be wrong… But it just comes across that way.

By the way, luxorio sells to an English speaking clientele (just look at website). Thus, you will be paying English-speaking clientele prices for what they are selling. You are also getting a single apartment that has been renovated vs. An entire building that has been renovated or newly built, etc. One look at their website quickly reveals that their are no pictures of the outside of the building, the lobby of the building, etc. This may not matter to you… But it is something that I noticed anyway. Maybe someday they’ll post pictures that will include these other areas.

On a positive note (about luxorio), they have a beautiful website and the remodeling that they have done looks very contemporary and “upscale” if that’s what you are looking for. Even if the apartment is in an older building you may find that these apartments are worth $400k. You could probably pay “local” prices and get something cheaper (and then renovate it yourself). But, that’d probably be filled with countless headaches if you are not familiar with this sort of thing, especially in Brazil.

If I were buying in Rio I’d definitely check out luxorio. But, I’d also do my homework and not limit myself to a company that markets to a foreign (English speaking) clientele. Maybe it’s that I’m just wanting a good deal and I know that tourists/foreigners won’t necessarily be getting the best deal typically. Then again, if a company markets to foreigners they are probably better prepared to handle the more complex transaction of selling property to someone who lives outside of Brazil.

My two cents anyway.

George asks…

best place to start off living in florida?

Im planning on renting my first apartment in about 2 years. Im just trying to get a head start. My question is where is the best place to start off at, which cities are best for young couples?
I guess i forgot to mention that I live in florida and have for the majority of my life. In any case thank you for the answers.

Administrator answers:

This is a good question! I had the a few years ago before I moved to Florida. I took the luxury to tour around different cities. I found the East Coast cities are big, expensive real estate; impatient short tempered people and the long line of traffic just like home -New York. And then I found the West Coast of Florida. Especially Sarasota, a beautiful artistic town full of culture …and the town like Port Charlotte, Punta Gorda, Fort Myers and Naples. Real estate prices are more affordable. Most people here are from the mid west like Ohio, Indiana and Michigan etc they are much friendlier. You are a young couple; you should be concerned about job prospect. In that case, big cities like Tampa, Jacksonville, and Miami are better choice. If you are in medical profession you will be welcome in any Florida city.

A nice hint for your future reference is in case you did move here and do want to be in medical profession. Make sure you get your Florida driver’s license right away and started your Florida residency (about 12 months). Once you are Florida residence, you can enroll to the vocational technical school in medical field with a discount. Classes usually short and only last for a year or less. In no time, you will have much sort after profession.

It is not a bad idea to come down in Florida with your friend to visit the two coasts . You can pick the cooler weather to visit Florida. I hope you can find a town you love and the beach (Florida coast is full of fine sand beaches) you like to hang out! It is just because I have done that! And happy to say there is no turning back to New York for me.

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