Some 02 Options (1,718 sf.)
1. Sell Entire Property. Possibly negotiate a closing date or a rent back that gives you whatever time you need to move out.
2. Sell Just the Master, Master Bath and Walk-in (404 sf.). This would leave you with the premier one-bedroom (1,056 sf) in the building. It would not take too much effort and money to close off den wall and convert it to the new bedroom. Bring in the hallway (that currently goes to the master) into the converted new bedroom, as a closet or work area. The move out of the master area would be very easy. Try is for a year or two and then it could always be an easy sale if need be.
- HOA Fees. With 404 less sf, your current HOA fees would go from $1,460 to $1,116. (@ $0.85 psf)
- Bexar Tax. You need to turn the tax reduction professionals loose to do their thing. Pool level Unit C is 950 sf; The 2023 Bexar appraised tax proposed value is $181,000. Proposed 2023 taxes w/o exemptions is $5,387 per year.
* One sub-option with you keeping it as your one bedroom. You could rent it to the new 01 owners for a year or so as they build out their space. This way they pay the costs and you benefit from the appreciation. Then, after they depart you make a decision on what to do long term. We could work out something with 905.
1. Sell Entire Property. Possibly negotiate a closing date or a rent back that gives you whatever time you need to move out.
2. Sell Just the Master, Master Bath and Walk-in (404 sf.). This would leave you with the premier one-bedroom (1,056 sf) in the building. It would not take too much effort and money to close off den wall and convert it to the new bedroom. Bring in the hallway (that currently goes to the master) into the converted new bedroom, as a closet or work area. The move out of the master area would be very easy. Try is for a year or two and then it could always be an easy sale if need be.
- HOA Fees. With 404 less sf, your current HOA fees would go from $1,460 to $1,116. (@ $0.85 psf)
- Bexar Tax. You need to turn the tax reduction professionals loose to do their thing. Pool level Unit C is 950 sf; The 2023 Bexar appraised tax proposed value is $181,000. Proposed 2023 taxes w/o exemptions is $5,387 per year.
* One sub-option with you keeping it as your one bedroom. You could rent it to the new 01 owners for a year or so as they build out their space. This way they pay the costs and you benefit from the appreciation. Then, after they depart you make a decision on what to do long term. We could work out something with 905.
Notes
- 01 is asking $1.25M for 3,100 sf. ($403 psf)
- 02 Master/Bath/Closet is appx 404 sf. ($403 psf x 404 sf = $160,000)
- Take the $160,000 and use that to pay the reduced HOA and Taxes on your remaining downsized 02 property. That would cover the HOA and taxes for almost 10 years (with increases maybe 9 years.)
- Benefits:
- - You keep parking and storage.
- - You have a 2nd home that most of the expense is covered for 9 - 10 years; Gives you some flexibility for future options.
- - It would be a good diversified investment in addition to mutual funds. With the size, washer/dryer, big kitchen, and view, it would be the premier one bedroom property in the building that you could sell at anytime if needed.
- 01 is asking $1.25M for 3,100 sf. ($403 psf)
- 02 Master/Bath/Closet is appx 404 sf. ($403 psf x 404 sf = $160,000)
- Take the $160,000 and use that to pay the reduced HOA and Taxes on your remaining downsized 02 property. That would cover the HOA and taxes for almost 10 years (with increases maybe 9 years.)
- Benefits:
- - You keep parking and storage.
- - You have a 2nd home that most of the expense is covered for 9 - 10 years; Gives you some flexibility for future options.
- - It would be a good diversified investment in addition to mutual funds. With the size, washer/dryer, big kitchen, and view, it would be the premier one bedroom property in the building that you could sell at anytime if needed.
Comparisons