advice re potenial beach condo purchase

[seashaw]

First time potential buyers here…

have always been anti condo investments due to low resell value, hoa$/rules, shared walls, etc…

until now, well maybe.

considering this condo-

pros:
under $400 (on the mrkt for approx 4+ months)
in our current community
spacious sq ft and # of bdr./bth.rms
updated renov.
very short walk to beach
parking
laundry
low hoa
on mrkt for approx 4+ months

cons:
condo
hoas
shared walls
no yard (w/patio)

so in the challenge pros vs cons= pros wins.

if we consider living there for the next 2-5 years and then selling or keeping as a rental it could work. IF the investment is a smart one…

after looking at area comps, even at the list price it seems a solid investment. although we would like to wait for the price to drop a bit more.

opinions please re. condo investments in this market(given the pros list) or are we jumping the gun here?

thanks-

[werewolf34]

Beach condos tend to be old builds. I would look long and hard at the special reserves, repairs from the HOA.

Location is the only thing that holds real value though.

[werewolf34]

Beach condos tend to be old builds. I would look long and hard at the special reserves, repairs from the HOA.

Location is the only thing that holds real value though.

[werewolf34]

Beach condos tend to be old builds. I would look long and hard at the special reserves, repairs from the HOA.

Location is the only thing that holds real value though.

[werewolf34]

Beach condos tend to be old builds. I would look long and hard at the special reserves, repairs from the HOA.

Location is the only thing that holds real value though.

[werewolf34]

Beach condos tend to be old builds. I would look long and hard at the special reserves, repairs from the HOA.

Location is the only thing that holds real value though.

[seashaw]

thanks werewolf-
great pt on the reserves

built mid 80’s

hoa monthly $ covers city maint(trash/h20 etc)., landscape and outside build. repairs. will have to check on other aspects/411

[seashaw]

thanks werewolf-
great pt on the reserves

built mid 80’s

hoa monthly $ covers city maint(trash/h20 etc)., landscape and outside build. repairs. will have to check on other aspects/411

[seashaw]

thanks werewolf-
great pt on the reserves

built mid 80’s

hoa monthly $ covers city maint(trash/h20 etc)., landscape and outside build. repairs. will have to check on other aspects/411

[seashaw]

thanks werewolf-
great pt on the reserves

built mid 80’s

hoa monthly $ covers city maint(trash/h20 etc)., landscape and outside build. repairs. will have to check on other aspects/411

[seashaw]

thanks werewolf-
great pt on the reserves

built mid 80’s

hoa monthly $ covers city maint(trash/h20 etc)., landscape and outside build. repairs. will have to check on other aspects/411

[Ren]

Shared walls aren’t ideal, but they aren’t necessarily a con. We lived in an 80’s townhouse in Carmel Valley for a couple years, with neighbors on both sides, and we NEVER heard them. We also had a crying baby for a good stretch of that time and they never heard him. Some condos are better insulated than others.

That said, I wouldn’t personally consider any coastal condo to be a good investment right now.

[Ren]

Shared walls aren’t ideal, but they aren’t necessarily a con. We lived in an 80’s townhouse in Carmel Valley for a couple years, with neighbors on both sides, and we NEVER heard them. We also had a crying baby for a good stretch of that time and they never heard him. Some condos are better insulated than others.

That said, I wouldn’t personally consider any coastal condo to be a good investment right now.

[Ren]

Shared walls aren’t ideal, but they aren’t necessarily a con. We lived in an 80’s townhouse in Carmel Valley for a couple years, with neighbors on both sides, and we NEVER heard them. We also had a crying baby for a good stretch of that time and they never heard him. Some condos are better insulated than others.

That said, I wouldn’t personally consider any coastal condo to be a good investment right now.

[Ren]

Shared walls aren’t ideal, but they aren’t necessarily a con. We lived in an 80’s townhouse in Carmel Valley for a couple years, with neighbors on both sides, and we NEVER heard them. We also had a crying baby for a good stretch of that time and they never heard him. Some condos are better insulated than others.

That said, I wouldn’t personally consider any coastal condo to be a good investment right now.

[Author]

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