Don’t worry, we don’t have a homeless guy living on our balcony now or anything, but this story is kind of a weird one.
It does involve money though, which by some completely random events have found its way back into my wallet. Which is why I will be writing about it. Because hey, any story that involves money going back into my wallet is worth writing about.
It’s not even a small amount we are talking about, it’s f*cking 15.000$ or 102.493 DKK to be exact.
So long story short, or long story long, depending on how you view it. Roughly 4 years ago the cooperative housing complex we live in, wanted to do a balcony project for the residents. Nice, we thought, as we live on the fourth floor with no elevator. So any additional ways of getting outside would be very welcome.
Getting a project like that agreed between approx 100 cooperative residents is not an easy task, so the “board” of the cooperative had suggested different options. Basically the cooperative could take on the whole task and cost and take care of things, or a more individualistic arrangement could be drafted. It ended in an individual arrangement. With respect to financing of the balcony’s, different options was also considered. It ended with a dual option scheme where the cooperative member could choose to finance it all by them selves, or the money could be financed via the cooperative. This would then be repaid to the cooperative over 30 years.
We chose to get a balcony, and because we had the money financed it ourself.
Fast forward 4 years, and of the roughly 1/3 of residents that chose not to get a balcony many had by now regretted. Hence a lot of requests has been coming to the board, to setup a new balcony project.
The board has now been evaluating the pro’s and con’s if this, and decided to do this. However in order to not completely complicate the financial setup, they have also decided to roll back the arrangement from 4 years ago and streamline the setup to what is without a doubt how it should have been back then. So the cooperative is buying back all balcony’s, will setup a project to establish new ones for the missing apartments. Instead off course, the cost of this will be an additional monthly cost on the rent. This would be roughly 800USD annually for us. You win some you loose some.
HOWEVER … in a complete win win win for the Minimal5 family, because the financial situation in the cooperative is so good 😊, the board also decided to lower the yearly rent, to what equals roughly 1.000USD annually for us.
so any one out there with a good suggestion on how to reinvest our balcony proceeds..👍😎👍
BTW below is a couple of pics of the balcony we now no longer “own”.