| One of the condos in the building next to us is for sale. On this street, all of the buildings are upper/lower unit duplexes. Three of them (6 units) are condos, and the rest of them are apartments (about 35 buildings). The condos are a very recent addition, they were finished last fall in 3 empty lots that had not been wide enough for the a standard size duplex with a driveway along the side. The condos solved this lot size problem by putting the garages underneath.
The single guy who bought the condo next door arrived in October, and I wonder why he's selling so soon. I found the listing on the internet, and while everything inside is fancy (read: granite counters, built in plasma tv), the layout is kind of weird. In the front there's a living room the width of the building, with a central hallway to 3 bedrooms and a kitchen (each half the width of the building) in a 4-square pattern. There is no dining room, the only public areas are the living room and the kitchen. This seems like a strange choice of plan for a single guy, but who would it work for, really? A family with two kids? The adults would never be able to escape from the kids. A couple with lots of guests? They don't even have somewhere to put a dining table. (Living in a building the same size, we could fit a dining table in our living room, but it would be very cozy.)
So now that we've established the layout sucks, the asking price for this place is $250k. Yes, that's right, we live next door to a building evidently worth half a million. (When new, the asking price was $260k, so I can only assume Single Guy didn't pay that much originally.) In addition to the lousy layout, this condo makes even less sense since three blocks from here you can buy a 3 bedroom house with living room, dining room, family room AND basement space for the same amount of money. Sure, you might have to maintain the yard and exterior, but the yards are small and 98% of the buildings are brick.
Even worse is that this condo is surprisingly...cheap. (Perhaps it's because one portion of the concrete path to the front door is not level from side to side OR from front to back.) Three miles from here you can buy a 2-bed condo for $500k or more. There are also $500k houses, but they tend to have 5 bedrooms. Moral of the story? I have become obsessed with real estate and I think that condos are ridiculous. |