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Just for some background..as we move to NC we're taking my wifes parents who are approaching their 80s. They're still in excellent health and need their independence so we will be using whatever equity they have and getting a condo in our names which they will pay very cheap rent for. This will solve alot of our current issues, of distance and finances (for them) and allow them to live out their remaining years stress free.
My question for the group is mostly related to what I should consider when looking at condos from an investment perspective. This is something we'd continue to own/rent even when they no longer live there, but I want to make sure we locate correctly. Are there any pitfalls I should watch out for, or places we should stay away from in terms of long term resale? Some of the places we're considering are:
carolina orchards
Cresswinds
Tree Tops
Massey
I just want to make sure we plunk down the money into something that won't lose money, so location I assume will be key. Not looking for a windfall in profit here, just don't want to lose money on it later.
Are you looking at Homes or Condos? I believe all of these properties are either Single Family Homes or attached homes. When we looked at 55& over communities, all were single family, don't believe I saw any condos. Look at the monthly assessments and what is included in them. Cresswinds was $250/mo and increasing, but includes TV, Internet and Security system.
Are you looking at Homes or Condos? I believe all of these properties are either Single Family Homes or attached homes. When we looked at 55& over communities, all were single family, don't believe I saw any condos. Look at the monthly assessments and what is included in them. Cresswinds was $250/mo and increasing, but includes TV, Internet and Security system.
Yeah maybe I am referring to it incorrectly..I look at them as condos, but they are detached, single family units, so maybe they are homes. And cresswinds was my top pick from an investment perspective due it's proximity to charlotte. What do you think?
They are definitely homes. We thought Cresswinds was nice, but overpriced. We bought a house in a non 55 over community with similar features that was $40-$50k less in Indian Trail. Still kind of isolated,, but the hospital is right next door.
They are definitely homes. We thought Cresswinds was nice, but overpriced. We bought a house in a non 55 over community with similar features that was $40-$50k less in Indian Trail. Still kind of isolated,, but the hospital is right next door.
nice, sounds like it worked out..there are homes like that in Millbridge going up now by DR Horton, same concept. ranch plans without the over 55 status. Did you look at Carolina Orchards, Tree Tops, and Sun City as well? What did you think
nice, sounds like it worked out..there are homes like that in Millbridge going up now by DR Horton, same concept. ranch plans without the over 55 status. Did you look at Carolina Orchards, Tree Tops, and Sun City as well? What did you think
We did, but not seriously because of the commute for my wife. She works Uptown Charlotte and the evening commute home was just too much. They are nice, Sun City is very large and offers everything
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