Pros and Cons of Condo Buying

By
Real Estate Agent with Century 21 Award San Diego

Many buyers and first-time buyers in my neighborhoods of Downtown San Diego are certainly ready to buy. They're certainly willing to buy. They're now even able to buy. One question that often surfaces especially with first timers is whether to purchase a condo, townhome or highrise in Downtown San Diego or rather to purchase a house in the outskirts in East or South County. Here are some factors to look at before you decide to buy property for sale in East Village San Diego CA:

*Storage. How much will you need? Although many East Village condos will include storage or have the availability to rent it, will you be able to get by with no attic or basement to store your belongings- or is a garage sale in order?

*Outdoor space. In many East Village condos, there is outside space- it's called a balcony. Yes, there is also some beautiful common space that all residents may use. But will you need a yard?

*Amenities. Many East Village condos have a swimming pool, spa, fitness room, common area. Will these be worth it to you?

*Maintenance. Condos cover maintenance and trash removal, have concierges who will allow people into your home while you're away to do repairs, and often can get "bulk" reduced rates on work needed.

*Will you want to pay the $100-600 per month in HOA fees every month for these amenities? Would this money be better spent on a house for repairs, etc. ?

*Resale value. In 4-5 years when you resell which will be more marketable, a condo or a house?

*City living versus suburbia. You're near Petco Park,  dozens of restaurants and nightlife spots and dog parks Downtown. In sububia, you don't have city noises, you have plenty of parking and more peace and quiet.

 

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Rainmaker
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David Popoff
DMK Real Estate & Property Mgmt - Darien, CT
Realtor & Property Manager, Fairfield County, Ct.

I think condo are great for folks who do not have a lot of free time for upkeep, but if you are a handyman type of person then better off with a home.

Nov 17, 2011 02:47 PM #1
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Scott Elwell

Agreed. Thank you, David

Dec 03, 2011 05:21 PM #2
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Rainer
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Scott Elwell

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