[seeyouhere]

Will older condos in Midtown, Atlanta appreciate in value in future?

What do you think of buying older condos in Atlanta- Midtown or Buckhead area? Are they worth buying?

I am looking at Peachtree Lofts and Cornerstone village. Are they any good?

They are both conversions of old office buildings. I believe there were built in the 1950s or even before.

They're both right smack in the middle of Midtown mile, a soon to-become- Hot spot.

Do you think they are good investments? Will they increase in price in 5-8 years, because of all the other newer condos building there?

OR, will it decrease in price because of the newer condos?


I'm hoping that buying a old condo at a fairly cheap price will be a good thing to purchase now, because in the future, those condos may become more expensive because of the soon-to-be "hot spot" location.
Am I wrong?


And thoughts?

[jason21atl]

Look a couple of blocks off Peachtree and you can find some great deals. My partner and I just bought a condo in a 1920-ish apartment building on Penn that was recently re-done inside and out. We narrowed our search down to a couple condo buildingson/near Peachtree.....Cornerstone Village, Spire, Plaza Midtown, Metropolis, and then a few units in historic buildings on Piedmont, Myrtle, Penn, and Argonne. We found that the units in the remodeled older buildings gave us much more space for the money and had much more character than the "newer" condos (less of a "cookie cutter" feel). Even though we aren't on the Midtown Mile, we are still in the middle of the city. I even sold my car recently and now walk/take Marta everywhere.

[dirtybird]

I even sold my car recently and now walk/take Marta everywhere.

Have you used Flexcar?

[jason21atl]

No, I havent used Flexcar yet but I did look into it. My partner still has his car so we can use that when we need to go somewhere MARTA doesn't go or need to make any large purchases, etc. I have been without a car for a few weeks now and have only used his car once though, so it's definately possible to live without a car in Atlanta.

[seeyouhere]

but as far as the older condos go that are ON midtown mile, do you believe that they will appreciate in value as the newer condos are built?

Also, what did you think of cornerstone village when you were condo shopping before?

thanks.

[NYC32]

Older Condos wont appreciate as much as newer built ones. Location is key and still number 1 when it comes to buying any realestate, look for location and year of building and how costly are the HOA fees.

[seeyouhere]

what if the location is GREAT. right on the street of where midtown mile will be. But the condo in general is pretty old. But then the HOA fees are low too.

[CityFan]

what if the location is GREAT. right on the street of where midtown mile will be. But the condo in general is pretty old. But then the HOA fees are low too.
Buyers are mostly well informed. If they have alternatives in newer buildings, they wouldn't pay high prices for older condoes. Right now there are a lot of buildings under construction or in the pipe line. It's hard to say that older buildings will appreciate much in values. It all depends on supply and demand.

[lindros2]

I live in 805 Peachtree Lofts and have been here for 4 1/2 years.

Definitely the best of the "older" condos. Building is built like a brick sh-thouse and quality of residents is top-notch.

-josh

[Sedaded]

I live in Parc Vue, and it's great. Not exactly on the Midtown Mile, but it's close...

[shanthemanatl]

My partner and I looked at Cornerstone Village a couple of years ago. I seem to recall there was some kind of lawsuit pending---something to do with the parking lot crumbling! It scared us away and we ended up buying at Siena at Renaissance Park, just off of Piedmont in SoNo.