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Atlanta Housing Options - Many first time buyers find Condo living ideal!

Atlanta Real Estate News | Email the Author: Maxsell Real Estate,
Posted: October 1st, 2008
Category: First Time Buyers, Real Estate Investors

Could A Condo be right for you?

Choosing an Atlanta condo makes a great deal of sense to many people. And in today’s Real Estate market there are more choices than every before. From the newly built to the older apartments that have been converted, they are as diverse as the prospective Atlanta buyers who are considering them. You can find Atlanta condos in all price ranges, but they usually offer a more economical alternative when compared to Atlanta single-family homes.

Your finances may not allow you to purchase an Atlanta single-family home, but a condo might allow you to stop paying rent and move closer to that ultimate goal. Many Atlanta condos offer shared resources that might include a swimming pool, exercise facilities, community rooms or other amenities. The lure of no or minimal upkeep is also attractive.

Of course there are advantages and disadvantages to owning an Atlanta condo. You will have to consider many factors and hopefully the following will point out some of them.

Positives of owning a Condo

A quick rundown of the why a condo might work for you:

A condo may be more attractive at certain stages in your life. Singles, newly weds, and retirees find they work very well because they allow you to have the security of ownership while having more time to “get on with life”. Instead of paying rent you are investing.
Condos are usually more reasonable than their single-family counterparts.
You can still be king of your castle – your interior choices are yours to make with few limitations.
Condos are often located in a central area with easy access to thruways, and/or public transportation.
Unlike apartments, condos have an association that maintains all common areas – so no more lawn mowing or shoveling snow for you! They also make handle repairs to the roof, decks, hallways etc., leaving you responsible for repairs to only your interior and mechanicals. Many condos include cable and internet access.
There are condos that have added security or is part of a gated community.
If shared amenities are important to you, choose one that features a swimming pool, exercise room etc.
Since the 1980’s there has been a boom in the building of condos, so they reflect the features that are important to today’s buyers.

Negatives to Atlanta Condo Ownership

Now for what many consider to be the downside of owning a condo:

As in apartments, you will have some common walls.
Many do not have a garage or adequate storage.
Association dues. These are assessed on all condo owners and are used to finance repairs and maintenance. Depending on the condo they can go from $50 to $350 per month.
You are living in closer confines than in a single family. But if you are now renting, it will be a similar experience.
In a buyer’s market they are more difficult to sell, and they grow in value at a slower rate than a single-family home.
Some condo associations allow owners to rent out their unit, while others do not. Living next door to a renter might be a different experience than living next to an owner.

The best advice is to thoroughly research an Atlanta condo before buying. No sense in buying a condo that allows pets when you dislike dogs. The same holds true if you are over 60 and find children irritating. No sense in paying increased association dues for a swimming pool, spa and exercise facilities if you are a couch potato. There are so many Atlanta condo’s – be sure that you find the one that represents the best value for your circumstances.

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