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(NPR)   Considering buying a condo that has a long history of steady, relatively moderate condo fees? RUN! Run like the wind away from that deal, the building is a potential deathtrap!   (npr.org) divider line
    More: Scary, Real estate, The Association, condo owners, condo association, tragic collapse of the Champlain Towers South, job of the board of directors, monthly homeowners' fees, best practice  
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4356 clicks; posted to Main » on 19 Jul 2021 at 7:50 PM (13 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-07-19 7:54:50 PM  
Heh, condo fees...

January: $500
February: $500
March: $500
April: $500
May: $47,000 special assessment to have roof replaced
June: $500
July: $500
August: $62,000 special assessment for boiler repairs
September: $500
...
 
2021-07-19 7:56:18 PM  
After all, these weren't intended to be luxury flats.   If the tenants are light in stature and relatively sedentary, and the weather is with us, we may have a winner.
 
2021-07-19 7:58:14 PM  
Fark user imageView Full Size
 
2021-07-19 8:01:59 PM  
Often the developer will set the initial monthly fees too low before control is handed over to the HOA because (a) lower fees make it easier to sell units and (b) developers are sleazeballs.

The first home I bought was a condo, and the developer set the fees at $88 per month--waaaaay too low to cover the building's ongoing expenses and also be able to put any away in a rainy day fund. If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.
 
2021-07-19 8:03:54 PM  

rnatalie: After all, these weren't intended to be luxury flats.   If the tenants are light in stature and relatively sedentary, and the weather is with us, we may have a winner.


The abattoir is starting to look good.

I'd love to be a Freemason.
 
2021-07-19 8:06:56 PM  
Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.
 
2021-07-19 8:09:08 PM  

dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.


Gonna buy me a cuisinart
Get a wall to wall carpeting
Get a wallet full o credit it cards
Never have to mow de lawn
Gonna get me a t shirt, with the alligator on
 
2021-07-19 8:09:41 PM  
Condo fees are a fact of life for most of us.
 
2021-07-19 8:13:00 PM  
So basically, if I can afford it, I shouldn't consider renting it?
 
2021-07-19 8:16:38 PM  
Condos - combining the worst aspects of owning with the worst aspects of renting! What a deal!
 
2021-07-19 8:17:18 PM  

dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.


Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁
 
2021-07-19 8:18:22 PM  
Condos are a hard "no" for my wife and me.  Pay the condo fee on top of the mortgage, and we still have assholes in the same building?  It's just a glorified apartment, with some "equity" until it collapses.
 
2021-07-19 8:18:45 PM  
Wait, since when are exclamation points allowed in headlines?
 
2021-07-19 8:21:33 PM  
Here we are in Harlow New Town
Did you recognize your block across the square, over there
Sadly since last time we spoke
We've found we've had to raise the rent again
Just a bit
Oh no, this I can't believe
Oh Mary, and we agreed to leave
This is an announcement from Genetic Control
It is my sad duty to inform you of a four foot restriction on
Humanoid height
I hear the directors of Genetic Control have been buying all the
Properties that have recently been sold, taking risks oh so bold
It's said now that people will be shorter in height
They can fit twice as many in the same building site
They say it's alright
Beginning with the tenants of the town of Harlow
In the interest of humanity, they've been told they must go
Told they must go-go-go-go
 
2021-07-19 8:25:23 PM  

dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.


If it's just walls-adjoining and not vertical...there's no reason not to.
 
2021-07-19 8:28:49 PM  
Demand to see where the fee money is going, regularly.
 
2021-07-19 8:28:57 PM  

trialpha: Condos - combining the worst aspects of owning with the worst aspects of renting! What a deal!


Co-ops are even worse.
 
2021-07-19 8:32:27 PM  
My MIL lives in a condo.  No matter how much X needs to be repaired, some people are opposed to it.  The place has to be falling down before anything gets fixed.  Condo owners act like they're living in an apartment.  I would only buy a new condo and sell it in 10 years.
 
2021-07-19 8:33:00 PM  

Lochsteppe: Often the developer will set the initial monthly fees too low before control is handed over to the HOA because (a) lower fees make it easier to sell units and (b) developers are sleazeballs.

The first home I bought was a condo, and the developer set the fees at $88 per month--waaaaay too low to cover the building's ongoing expenses and also be able to put any away in a rainy day fund. If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.


There was a big bruhaha lawsuit here where the fees more than doubled as soon as the developer exited. Anyone care to guess the result?
 
2021-07-19 8:34:35 PM  

kittyhas1000legs: Condos are a hard "no" for my wife and me.  Pay the condo fee on top of the mortgage, and we still have assholes in the same building?  It's just a glorified apartment, with some "equity" until it collapses.


They don't appreciate as fast as single family homes, generally. Also, mortgage terms aren't as good, generally.
 
2021-07-19 8:36:13 PM  

stuffy: Demand to see where the fee money is going, regularly.


At a bare minimum, they do have to have a budget plan available to the owners.
 
2021-07-19 8:39:45 PM  
Mine are over $300 a month.  Ugh.
 
2021-07-19 8:40:43 PM  

Rapmaster2000: My MIL lives in a condo.  No matter how much X needs to be repaired, some people are opposed to it.  The place has to be falling down before anything gets fixed.  Condo owners act like they're living in an apartment.  I would only buy a new condo and sell it in 10 years.


I've owned two condos in my life. Every time I went to sell, at least one of the owners had initiated a lawsuit against the strata council over some trivial insignificant thing (one of them was because they got caught violating the "no new pets" policy, and didn't think that rule should apply to them).
 
2021-07-19 8:42:35 PM  
valenumr:

The fees tripled minimum
 
2021-07-19 8:46:46 PM  
Condos - all the drawbacks of renting, and none of the advantages of homeownership!
 
2021-07-19 8:52:16 PM  

baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁


I didn't think they offered leases that long
 
2021-07-19 8:56:29 PM  

scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long


A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.
 
2021-07-19 8:59:26 PM  

Rapmaster2000: No matter how much X needs to be repaired, some people are opposed to it.


I'm in a condo and can report that no matter how much people are opposed to it they'd rather complain about it then attend a budget meeting and vote on the farking thing.
 
2021-07-19 9:07:13 PM  

Lochsteppe: If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.


You probably wouldn't have stopped 9/11, but the feds would have had a lot of questions for you on 9/12.
 
2021-07-19 9:11:49 PM  

valenumr: Lochsteppe: Often the developer will set the initial monthly fees too low before control is handed over to the HOA because (a) lower fees make it easier to sell units and (b) developers are sleazeballs.

The first home I bought was a condo, and the developer set the fees at $88 per month--waaaaay too low to cover the building's ongoing expenses and also be able to put any away in a rainy day fund. If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.

There was a big bruhaha lawsuit here where the fees more than doubled as soon as the developer exited. Anyone care to guess the result?


I fix your wife's cable while you cuck in the corner?
 
2021-07-19 9:21:47 PM  

WhippingBoi: Heh, condo fees...
January: $500
...
May: $47,000 special assessment to have roof replaced
...
August: $62,000 special assessment for boiler repairs
September: $500
...


How much on the what now?

Good lord. I paid under $7k to have my roof replaced. And there should be some kind of economy of scale in a condo - either it's townhouses and it's a simple but large roof and the roofers are just cranking through, or it's multi-story where many units are under the same roof area. What kind of nonsense is $50k for a share of a roof?

I converted from oil to natural gas with a new furnace and water heater, plus added central air, for about 10k.  How many units in your complex?  How much did the boiler itself cost?
 
2021-07-19 9:23:04 PM  

valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.


This has, for the most part, proven incorrect. A lithium ion battery is good for ~500 charge cycles in things like portable electronics, where they're always fully charged, then run hard and hot. EVs and plug in hybrids never fully charge or discharge their cells, which greatly extends their life. And they've been around long enough that the data available supports this. The batteries are usually lasting considerably longer than 100k. An EV that routinely lost significant range before 30k would be considered a joke. About the worst available is the first generation Nissan Leaf, and the reasons for that are pretty clear once you look at it- to make a middle-range electric car available for $19,000, they have it using a significant amount of the batteries' full capacity, and the battery pack is only air cooled, unlike other EVs that use liquid cooling. And even those routinely make it to 70k before a real drop in range occurs, with the battery still being useable beyond 100k. Finally, while buying new batteries from the OEM is expensive, there's lots of companies selling rebuilt packs with all-new cells for less than half that price, and reconditioned packs for a roughly a quarter the price.
 
2021-07-19 9:23:46 PM  

valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.


Depends on the chemistry. Your phones' LiPo? Sure. A power-tool type battery is a high discharge long life type, which can be an NMC (nickle-maganese-cobalt) type, which has less charge per weight compared to LiPo, but better overall function. I have an electric skateboard with an NMC type Lithium battery and I have way more than 500 discharge cycles and it's still pretty much 100% (15 miles a charge, at 2600 miles now). So I would check your lithium battery subtype before using that generalization again.
 
2021-07-19 9:24:25 PM  

lizyrd: WhippingBoi: Heh, condo fees...
January: $500
...
May: $47,000 special assessment to have roof replaced
...
August: $62,000 special assessment for boiler repairs
September: $500
...

How much on the what now?

Good lord. I paid under $7k to have my roof replaced. And there should be some kind of economy of scale in a condo - either it's townhouses and it's a simple but large roof and the roofers are just cranking through, or it's multi-story where many units are under the same roof area. What kind of nonsense is $50k for a share of a roof?

I converted from oil to natural gas with a new furnace and water heater, plus added central air, for about 10k.  How many units in your complex?  How much did the boiler itself cost?


I'm guessing that's the total, spread out among all the owners. Or it's an exaggerated example.
 
2021-07-19 9:25:34 PM  

HighlanderRPI: Wait, since when are exclamation points allowed in headlines?


I think the headline admins can edit otherwise forbidden punctuation back in when it makes sense to do so. I seem to remember submitting a headline long ago that needed punctuation at the end and it was fixed without me having to ask.
 
2021-07-19 9:25:55 PM  

Zeroth Law: valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.

Depends on the chemistry. Your phones' LiPo? Sure. A power-tool type battery is a high discharge long life type, which can be an NMC (nickle-maganese-cobalt) type, which has less charge per weight compared to LiPo, but better overall function. I have an electric skateboard with an NMC type Lithium battery and I have way more than 500 discharge cycles and it's still pretty much 100% (15 miles a charge, at 2600 miles now). So I would check your lithium battery subtype before using that generalization again.


Mea culpa, I can't math. Only at 173 cycles. Hopefully I am right but we shall see.
 
2021-07-19 9:27:08 PM  

Por que tan serioso: valenumr: Lochsteppe: Often the developer will set the initial monthly fees too low before control is handed over to the HOA because (a) lower fees make it easier to sell units and (b) developers are sleazeballs.

The first home I bought was a condo, and the developer set the fees at $88 per month--waaaaay too low to cover the building's ongoing expenses and also be able to put any away in a rainy day fund. If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.

There was a big bruhaha lawsuit here where the fees more than doubled as soon as the developer exited. Anyone care to guess the result?

I fix your wife's cable while you cuck in the corner?


And yet another pointless comment that is not funny at all.
 
2021-07-19 9:32:16 PM  

Zeroth Law: valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.

Depends on the chemistry. Your phones' LiPo? Sure. A power-tool type battery is a high discharge long life type, which can be an NMC (nickle-maganese-cobalt) type, which has less charge per weight compared to LiPo, but better overall function. I have an electric skateboard with an NMC type Lithium battery and I have way more than 500 discharge cycles and it's still pretty much 100% (15 miles a charge, at 2600 miles now). So I would check your lithium battery subtype before using that generalization again.


I'm a fan of LiFEP04 but as you said, the chemistry is important. EV manufactures are stuck between energy density and durability. And guess which wins.
 
2021-07-19 9:33:33 PM  

Greek: lizyrd: WhippingBoi: Heh, condo fees...
January: $500
...
May: $47,000 special assessment to have roof replaced
...
August: $62,000 special assessment for boiler repairs
September: $500
...

How much on the what now?

Good lord. I paid under $7k to have my roof replaced. And there should be some kind of economy of scale in a condo - either it's townhouses and it's a simple but large roof and the roofers are just cranking through, or it's multi-story where many units are under the same roof area. What kind of nonsense is $50k for a share of a roof?

I converted from oil to natural gas with a new furnace and water heater, plus added central air, for about 10k.  How many units in your complex?  How much did the boiler itself cost?

I'm guessing that's the total, spread out among all the owners. Or it's an exaggerated example.


Haha, no... A multi unit highrise will typically experience a multimillion cost every 5 years or so after the first 10.
 
2021-07-19 9:48:58 PM  

valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.


Guess I should call you John Snow because you know nothing.
 
2021-07-19 9:51:49 PM  

WhippingBoi: Heh, condo fees...

January: $500
February: $500
March: $500
April: $500
May: $47,000 special assessment to have roof replaced
June: $500
July: $500
August: $62,000 special assessment for boiler repairs
September: $500
...


So, if we see a condo for sale with a mode monthly fee watch out!
 
2021-07-19 9:53:53 PM  

valenumr: Lochsteppe: Often the developer will set the initial monthly fees too low before control is handed over to the HOA because (a) lower fees make it easier to sell units and (b) developers are sleazeballs.

The first home I bought was a condo, and the developer set the fees at $88 per month--waaaaay too low to cover the building's ongoing expenses and also be able to put any away in a rainy day fund. If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.

There was a big bruhaha lawsuit here where the fees more than doubled as soon as the developer exited. Anyone care to guess the result?


1) Condo owners can't or have no interest in repairing X because they bought a condo to not do that.  Decide to hire a professional.
2) Condo association voted to keep fees low to "save money", introduced "hardship exemptions" for elderly condo owners.  Fund was way below the amount required to pay contractors to fix X, Y, and Z, which last for 10-20 years without issues but then are absurdly expensive to fix.
3) Condo association shops around for contractors and chooses one that came in low.
4) Contractor doesn't show up on time/was drunk/does a bad job.
5) Condo association sends letter from attorney.
6) Contractor laughs.
7) Condo association takes contractor to court.  Two years later and $60k in legal fees the contractor bankrupts his company, starts a new one and walks away.
8) Condo association hires a well respected contractor to perform emergency repairs at twice the original cost.  Every condo is assessed a one-time fee of thousands of dollars.
9) Several condo owners file suit claiming their condo is X and therefore exempt, are too old and on "fixed income" and can't afford it, etc.
10) Condo association coughs up thousands more in legal fees to fight their own members.
/Get a condo if you have enough money to cover the cost of the unit and association being repaired by top contractors ($$$$).
 
2021-07-19 9:56:53 PM  
I just got hit with a special assessment for a driveway and roadway replacement - work actually just finished today.

The good part is that the HOA doesn't need to collect because we got our funding through a municipal loan and homeowners are going to be paying it back as part of their property taxes.
 
2021-07-19 10:01:17 PM  

stuffy: Demand to see where the fee money is going, regularly.


My gf worked for a condo association for a bit. The amount of corruption went past criminal. Any inquiry into financials were either ignored or given false and misleading information. Meeting minutes changed. Money moved back and forth between multiple accounts, with some disappearing. Rampant cronyism. Shady accountants and accounting. Maintenence not being done. It goes on and on. And the residents were mostly oblivious and uncaring to what was going on.
 
2021-07-19 10:01:59 PM  

Northern: valenumr: Lochsteppe: Often the developer will set the initial monthly fees too low before control is handed over to the HOA because (a) lower fees make it easier to sell units and (b) developers are sleazeballs.

The first home I bought was a condo, and the developer set the fees at $88 per month--waaaaay too low to cover the building's ongoing expenses and also be able to put any away in a rainy day fund. If I knew then what I know now...well, I'd probably try really hard to warn everyone about 9/11, but also I'd have some pointed questions for the developer at the HOA transfer meeting when the units were all sold.

There was a big bruhaha lawsuit here where the fees more than doubled as soon as the developer exited. Anyone care to guess the result?

1) Condo owners can't or have no interest in repairing X because they bought a condo to not do that.  Decide to hire a professional.
2) Condo association voted to keep fees low to "save money", introduced "hardship exemptions" for elderly condo owners.  Fund was way below the amount required to pay contractors to fix X, Y, and Z, which last for 10-20 years without issues but then are absurdly expensive to fix.
3) Condo association shops around for contractors and chooses one that came in low.
4) Contractor doesn't show up on time/was drunk/does a bad job.
5) Condo association sends letter from attorney.
6) Contractor laughs.
7) Condo association takes contractor to court.  Two years later and $60k in legal fees the contractor bankrupts his company, starts a new one and walks away.
8) Condo association hires a well respected contractor to perform emergency repairs at twice the original cost.  Every condo is assessed a one-time fee of thousands of dollars.
9) Several condo owners file suit claiming their condo is X and therefore exempt, are too old and on "fixed income" and can't afford it, etc.
10) Condo association coughs up thousands more in legal fees to fight their own members.
/Get a condo if you have enough money to cover the cost of the unit and association being repaired by top contractors ($$$$).


In reality, it was a new build. Folks should be aware that there are not really any maintenance costs during the selling phase. But the sellers advertise the existing maintenance fees, and then the buyers are shocked to learn that they actually have to pay in to maintain the property. Short story: owners lost. Also, that part about lawyers making bank also happened.
 
2021-07-19 10:06:52 PM  

iheartscotch: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

If it's just walls-adjoining and not vertical...there's no reason not to.


That's a townhome.
 
2021-07-19 10:07:16 PM  

Greek: lizyrd: WhippingBoi: Heh, condo fees...
January: $500
...
May: $47,000 special assessment to have roof replaced
...
August: $62,000 special assessment for boiler repairs
September: $500
...

How much on the what now?

Good lord. I paid under $7k to have my roof replaced. And there should be some kind of economy of scale in a condo - either it's townhouses and it's a simple but large roof and the roofers are just cranking through, or it's multi-story where many units are under the same roof area. What kind of nonsense is $50k for a share of a roof?

I converted from oil to natural gas with a new furnace and water heater, plus added central air, for about 10k.  How many units in your complex?  How much did the boiler itself cost?

I'm guessing that's the total, spread out among all the owners. Or it's an exaggerated example.


I exaggerated a bit for dramatic/comedic effect.

Having said that, I was hit with about $35,000 in "special assessments" in the 4 years I lived in one of them. There was supposed to be an "emergency contingency fund" to cover things like this, but it was all used up the year before I bought.
 
2021-07-19 10:10:19 PM  
"Housing prices are ridiculous!!  But, I refuse to buy a condo in my price range so I can earn equity in order to buy a larger house in the future.  I want my dream house now! now! now! now!"
 
2021-07-19 10:18:07 PM  

valenumr: Zeroth Law: valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.

Depends on the chemistry. Your phones' LiPo? Sure. A power-tool type battery is a high discharge long life type, which can be an NMC (nickle-maganese-cobalt) type, which has less charge per weight compared to LiPo, but better overall function. I have an electric skateboard with an NMC type Lithium battery and I have way more than 500 discharge cycles and it's still pretty much 100% (15 miles a charge, at 2600 miles now). So I would check your lithium battery subtype before using that generalization again.

I'm a fan of LiFEP04 but as you said, the chemistry is important. EV manufactures are stuck between energy density and durability. And guess which wins.


Neither wins.  Electric vehicle manufacturers tend to balance the two, falling between phone/tablet manufacturers (density) and home energy storage manufacturers (durability).

Electric vehicles have enough space to include much larger non-usable battery buffers and better heat management systems than portable devices like phones, tablets, and power tools.  Some of them even allow drivers to reserve larger buffers for daily driving to extend longevity, which can then be reduced for long trips.

A number of EV manufacturers offer battery degradation warranties, with 70% minimum at 8 yrs / 100K miles being a common offering.  Lexus has a 10 yr / 620K mile / 70% warranty for its UX 300e BEV.

The CARB is even proposing a requirement that all new MY2026 and later BEVs include a minimum 15 yr /150K mile / 80% capacity warranty.  That would go a long way to alleviate battery fears.
 
2021-07-19 10:22:02 PM  

valenumr: scanman61: baron von doodle: dionysusaur: Considering buying a condo?
What the fark is wrong with you?
I be you lease fancy cars.

Leasing an EV car is a decent deal. Right about the time the battery starts having charging issues, you trade in for a new one and make it someone else's problem. 😁

I didn't think they offered leases that long

A lithium ion battery is good for 500 charge cycles optimistically. But in reality, it is more like 150 or so before the capacity and performance drop below 75 percent. So manufactures claim 100k miles, but really it is garbage after about 30k miles. YMMV, literally.


Lol, what insanity-chamber did you pull those numbers from?  No EV on the market has a battery that is "garbage after about 30k miles."

Hell, we traded in a PHEV that was nine years old. Smaller battery means it got a  full charge cycle more than twice a day on average. Every day. For nine years. At trade-in that means it had done somewhere in the ballpark of 8000 charge cycles. It had about 80% of its original rated range per charge.
 
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