Scripps Ranch Condo’s

[FeistyNumerate]

I’m currently considering a 2/1 upper middle unit. Curious if this waves any red flags considering how this area is mostly families.

I’d expect to be in the unit 5-8 years (until my son finishes HS) but I’d also like to hope I’ll remarry and/or my success up the corporate ladder will double sooner than later too. Regardless, I’d definitely plan to keep it as a rental.

Also, would it be wrong to assume that there would be better long term value in buying something that is a bit dated compared to similar unit with “upgrades”. I’ve read in a few places upgrades never see their full value. However, this unit is most definitely near original if not original in the bathroom and kitchen.

Thank you.

[svelte]

I personally don’t see an issue buying a 2/1 in SR. My advice to friends is usually not to buy a 1/1 anywhere as when its a buyers market, 1/1 units sit there a long long time.

SR is a desirable area and folks who can’t quite swing a house will keep the demand for condos up – just like you are doing.

That said, I always lean towards end units as they are more desirable for obvious reasons. Middle units can be OK depending on the layout of the complex, but ends are better in most situations.

Finally, it would be my preference not to get a unit with upgrades already done as (a) my wife and I like to pick our own finishes, and (b) if you re going to turn it into a rental anyway, I’d probably not even bother with the upgrades, as a general rule.

Take care and have fun.

[FlyerInHi]

If buying is cheaper than rent, then you’ll probably be happier buying.

Right now, there’s not a lot of inventory, so you kind of have to buy what you can and make the best of it.

I would recommend remodeling so you enjoy it. But don’t go overboard; stick with simple, clean lines. You get to enjoy the updated condo while you live in it, and when you turn it into a rental you can compete better with the new “luxury” apartments they are building all over the place these days.

Since it’s a small space, pay attention to flow and unity. Avoid different flooring and color schemes in different rooms.

To answer you question about value, flippers make money because they buy ugly space and make it appealing for resale. It’s an art.

[Author]

Posts