Buying A Midtown Atlanta Condo
Buying a Midtown Atlanta Condo can be a overwhelming experience. How do you find the right building, or floor plan? What about the view? There are quite a few things you should think about when buying a condo. That’s where I come in! Let’s talk about some of the things you should consider.
Location, Location…..well, you get that one! We’ve already decided on Midtown!
*The location of the building can still make a difference.
*What else is conveniently located to your building? (restaurants, grocery, dry cleaners, coffee shop?)
A large high-rise gives you options to be up high for views. But maybe you’d prefer a more intimate, smaller building where you get to know more people.
There are many things to consider as to what your future home may offer. The amenities in Midtown Atlanta Condo buildings can vary. Does the building have:
*24 hour Concierge
*Club Room (and what does it offer…movie theater, catering kitchen, internet access)
*Any retail space in the building to provide services like we mentioned above?
Are you looking for a traditional feel, modern, loft? Other features to look for include:
*Laundry hook up in your home vs a common laundry area
*Kitchen size (cabinets, counter space, pantry)
*Bathroom (Again, cabinets, counter space, bath tub or shower only)
*View! (What is it now, and could it change in 3-5 years)
*Closet/Storage space in the condo (and is there an option for additional storage?)
*Can you fit your furniture in the space? (You might have a family heirloom to keep with you)
Recently, the City of Atlanta has stepped up its parking enforcement for street parking meters. Does your Midtown Atlanta Condo building offer off-street parking? Is it covered? Gated? Secured? How many spaces come with your home? Is there guest parking available?
Home Owners Association (HOA)
This can be a completely new experience for a home buyer looking at condominium living. While you may or may not have experienced and HOA if you are moving from a suburban neighborhood, it’s something you need to be aware of in condo living.
*What is the monthly HOA fee?
*What is included in this fee?
These are two very important questions to ask. Fees, and what is included, can vary widely from building to building. Some will include water and sewer, some will not. Others might have gas cooking which is added to your fee. This fee also covers the maintenance of common areas such as a pool, club room, lobby, etc.
*What is the financial condition of the community?
We work on your behalf to obtain this information as well as know what is happening in the various Midtown Atlanta Condo buildings.
Living in a condo building involves rules and regulations. What are they? Many don’t allow for grills on balconies, or plants. You are in close proximity to your neighbors and a noisy neighbor can be a challenge. How are these issues handled?
In today’s real estate market, this is an important question. If you are buying using a FHA mortgage, the condo community must be FHA approved. Make sure you know if the building you might be interested in IS approved! If not, it would require additional money for your down payment, something you may not be in a position to do.
Also, you want to know about past sales, prices, and time on the market. Are homes in this building moving quickly? You want to think re-sale in the future, although we don’t know what the future may hold!
Speaking of re-sale, how long do you plan to be in this home? What is in the area that could impact your sale in the future? New construction either finished and not sold, or proposed for the future?
Can you rent your home if you need to move and can’t sell it? Most all Midtown Atlanta Condos have rental caps on the number of homes that can be rented at anytime. What is the wait time on the rental list?
Also, many of the items listed above can impact your re-sale potential. A building with a pool might not be as desirable as one with. Even if YOU don’t think you will use the pool, you what to think re-sale.
Sound intimidating? Don’t let it be! We are here to help you through each and every one of these considerations and help you make the best buying decision possible, based on what you are looking for.
If you have other questions about buying a Midtown Atlanta Condo, just contact me and I’ll be happy to help you work through all the steps and decisions and find you the perfect place to call home in Midtown Atlanta.