Without naming names and keeping the innocent anonymous, I will just say a friend who lives in a condo taught me a thing or two about why you should always do your homework before buying a home. At just 23, my friend bought his condo in Langley City, which at the time was a really awesome deal. His mortgage was just a mere $250.00 per month, and his work was just a 5 minuet commute away. On top of his monthly payments were some maintenance charges, and of course his yearly taxes and insurance payments too, but all well within his means. All was good for my friend, and his life was one to envy.
It was a dark and stormy day back in the fall of 2014 when my friend’s life changed. Cube Land (the condominium), as I called it, hit a sudden snag for him. The building had a large crack along the under ground parking floor, and it grew day by day, suddenly spewing water and causing flooding, forcing some of the owners to park outside along the street. A broken water main that ran underground beside the building was the blame, and the repairs had to done at once. The inhabitance of Cube Land rejoiced as the repairs were completed, and all was normal again. But not until a yellow envelope was found pushed underneath my friend’s door that dark and stormy day, did his happiness ended, and his world imploded on him.
First his girlfriend wanted to move away from there, then he decided it was time to leave too after months of resistance, but the cost of those repairs was half of what his mortgage was worth now, and together his young family found there was no way out unless giving up all that they had worked for. His debt now nearly doubled, and his upgraded monthly payments dug into his living expenses, so he took on a part time job on top of his regular work to help pay for life in Cube Land. His girlfriend, now his wife, also took on extra work to help. They now found themselves struggling to keep a float, and each day brought new horrors of higher costs and extra fees that they had to pay.
Cube Land, once utopia, now became known as The Blight. It instilled all that my friend hated in the world. Selling was not an option, as there were rules and obligations in place that made it next to impossible for him to do so. It was a tragedy.
In this strange world of Cube Land, unexpected events happen that catch you off guard. It took an act so devastating that it changed my friend’s fortune, unexpectedly, to the good. A fire broke out in the unit below his, and caused enough damage that my friend had to move out. One would think this to be the ultimate of tragedies, but not so fast. With the help of Lawyer, and his insurance company, he managed to take his losses and turned them into a gain. He was one of the lucky ones.
Today, he now lives on land, a solid foundation, a house with a back yard, in the little city of Chilliwack, BC, now a 30 to 40 minute commute to his job. Thanks to the buy-out, his family has a new lease on life, pardon the pun. Cube Land still sits unrepaired and empty, “cursed,” as my friend says. Never again will he set foot there, never again.