Question : Should I buy this condo in a high rise in the Atlanta area?
I have rented a one bedroom for the past 10 years. I found a DEAL on a one bedroom condo in a high rise building for $ 59,000. It is a short sale. It has all the upgrades I want such as granite counter top,new cabinets,new appliances,remodeled bathroom w/marble tiles,hardwood floors.

I have a ALWAYS DREAMED of living in a high rise building.

The assoc fees are kind of high $ 290 per month, but I would NEVER want to own a home because I do not want to deal with the maintenance.

The views are spectacular and it’s very close to my office but also very close to the Midtown/downtown areas.

People always advise me condos are bad investments, but I would not feel comfortable purchasing a house, so it’s buy a condo, or keep renting!
atlanta home remodeling

Best answer:

Answer by loanmasterone
Each persons needs and desires are different. One reason condos are such a good commodity is for people such as yourself that want the feel of ownership without the maintenance that go along with owning a house.

I don’t think a condos are a bad investment at all. There are disadvantages to owing a condo as there are disadvantages to owning a home in the wrong part of town. It might be difficult and time consuming to sell your condo if you decide to do so or in the event there is a job transfer. It normally take longer to sell a condos oppose to a house. Then there is the condo association fee, communal leaving that might be a hindrance.

If this is something that you want to do and afford this is your decision and yours alone. You can not go through life allowing others to make these type decisions for you.

Make your offer subject to the condo association being solvent and not in litigation. Also make sure that more than 90% of the condos are owner occupied and the condo association by-laws so state.

Read the association by-laws and another document called the CC& Rs. Ask your real estate agent about these two documents. Don’t be put off and told that you can see these documents after the closing. Look at these documents first, reading them could save you lots of headaches and possible legal problems in the future. If these documents are not produced walk away from the deal they are that important.

I hope this has been of some benefit to you, good luck.

“FIGHT ON”