mill harbor condos

Have you been to Mill Harbor? I would definitely come down and research before buying.

We did a good deal of research on condos before we bought two years ago. Mill Harbor has gotten kind of a negative (no offense to anyone currently living there) reputation, and is probably why the units are on the inexpensive side, as the sellers cannot get rid of them.

While the grounds are well kept, the building is in a nice north shore location, and the units are spacious, there has been a history of mismanagement by the previous management company, and the building was not being well maintained at the time. In the recent past, additional assessments for repairs have been tacked on to the owners already exorbitant fees that typically hover over $800 per month. Last I heard, the assessment was to last two years. To us it didn't make sense to pay that much and a mortgage. With that kind of money, you could probably just go buy the house to start.

Like Linda J said, come on down and do the leg work.

You absolutely must be here to do your home shopping, but you are doing the right thing in asking for others advice. Mill harbor is part of what locals call condo row on stx. Without even addressing mill harbor you need to come and look at the area condo row is in. It is a convenient location being center island but the neighborhood is horrible. You are surround by public housing and frankly a very very poor neighborhood. I would not buy there.

Also you need to know you will be extremely lucky to even get to break even on a condo if you rent it out as a vacation rental. Vacation rentals do not do well here, maybe in season and then it will be hard to fill it the rest of the year. But it might pay for something and that is always better then nothing. Long term is usually the way ( the only way to break even or make a profit) to go here but even that is a dead duck right now.

I would seriously recommend you do not buy until you live here at least a year. Most people's honeymoon with the island last that long. And most go back rather then stay. And trying to sell property down here is very hard.

Best of Luck.

well
we lived there for a year. it was nice having a restaurant on site. the condos are old some not taken care of. used to be alot of crack heads living or hanging out in the vacant lot next door which brought crime to the condos. that has since been cleared out and looks nice. there is now also a real security gate. you have to push numbers to get in or call the restaurant to get in. seems more secure and the grounds have been cleaned up.
the condo fee is out of this world. we had a three bedroom and our condo fee was about 1000 a month for a three bedroom. so not worth it. i hear other condo fees are not as much. alot of the condos are for the hovensa people too.
if you live on the top floor you have alot of steps to carry your things up, also if you dont have a w/d in your unit, so much extra lugging. that really sucks. the pool is nice but right in front of the restaurant, i dont know about you but i dont like swimming where people are eating.

looking to by a condo on stx what do people have to say good or bad about mill harbor condos start off as a snow bird in a few years stay all the time and buy a house at that time being that i will only be there 6 months out of year looking at condo as first buy may turn it in to vacation rental in a few years when we buy a house

https://www.vimovingcenter.com/talk/read.php?

https://www.vimovingcenter.com/talk/read.php?4,86232,86232#msg-86232

Please do a search (top of this page) You will find many comments good and bad about Mill Harbor.

There are pros and cons to any of the condo complexes on the island. Each prospective buyer needs to evaluate how a complex fits his own needs and lifestyles as there are always people living happily in any property you visit. Price is often a limiting factor in the complexes you consider. Remember to factor in the HOA fees and also which utilities and services are included and which you will pay for in addition. A spreadsheet is often helpful in making sure you are comparing complexes equally.

The special assessment fees at Mill Harbor just expired this month. The HOA fees are still pretty high (as they are everywhere due to the high cost of hurricane insurance), but at least some of the capital improvements are now completed at the complex and it's a little easier on the pocketbook of the owners. Mill Harbor is considering moving the complex to "self insured" status in the next 1-2 years. This has ramifications for anyone with a mortgage, so be sure you get the scoop on that before making an offer. It's best to fully understand what is to come so you make the right decision for YOU.

Sometimes you find that buying a slightly more expensive condo is actually cheaper in the end if the HOA fees are lower and more utilities are included. You also stand to see better equity increases over time with some of the complexes than you do with others.

Retirees often come thinking they have to buy a 2-bdr condo to handle guests and they wind up paying much more than they need for the extra bedroom and higher HOA fees than if they had gotten the 1-BDR they often really would be better off with. Think carefully about what you truly NEED versus what you just think you have to have and you can save some $$. Most people live in much smaller housing in the islands than they would on the mainland because they spend much more of their life outdoors anyway.

There are some pretty good deals on condos right now at many complexes. The higher than usual inventory and the lower number of buyers due to the mainland mortgage crisis have sellers dropping prices and still making even better deals with the buyers who are ready to take advantage now before recovery really gets moving and the market rises again. We expect some time yet before recovery gets moving fast, but it's bound to happen. STX was moving steadily upwards until the mainland issues brought things to a screeching halt. By this time next year we should be seeing some big changes in the island market status. Some mainland markets are already booming again and a few of those zones are where we typically see buyers coming from.

Where ya been, Alexandra?

Hi, I think it might be a good idea to stay in one and see for yourself how it is. I have found it true that one mans desert is another man's poison.

desert? poison? :S

My fingers do not work well before 6 am lol
Thanks