Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We are planning to downsize and found a condo building that interests us. However, we want to do our homework to see if it's a good fit for us.
For example, we are empty nesters so a building filled with families with kids is not something we want at this stage in life. When we were raising our daughter, it would have been fine with us then, but not now.
I've read that you should just hang out in front of the building to see who comes and goes. However, this building has no place to sit that's near the entrance. Also, I suspect that if we hang around too long, it might look suspicious.
So...are there any ways to do some research to find out this info?
One place to start is:
Put the address of the complex into trulia.com, then cursor down to map at bottom of page. Click on demographics category on left, and voila...there are different kinds of demographics, incl age, marital status, ec. Enlarge the map until your complex is about the only thing on the page, then hover your cursor over the complex....boom....median age, etc.
There are other real estate sites that provide similar info.
Another thing to do is consider the area: Look for schools nearby, hospital and medical providers nearby, etc. If schools are near, odds are that there are younger people with kids live in the area generally. If hospitals are near, odds are that hospital staffers live in the area. And so forth.
For example: In house hunting, I know of a subdivision that has had decent houses in my price range. When looking on google maps, though, I saw that there is a middle school and an elementary school in the subdivision. So I know right off the bat that there will be young people with school age kids living in that subdivision. In fact, one of the houses I found on the internet had a "school zone" sign on its street.
Another house I liked in a part of town had an unusually high rental rate on its street. The houses were nice and not rundown. Perplexing....until I realized the street was only a couple of blocks from a hospital complex. I'm pretty sure that the renters in that area are people who work at the hospitals or doctors' offices. So wouldn't be retirees, but work-age people probably without little kids (no schools nearby). The places rented for too much for the renters to be college kids...there was also a college a couple of miles away. But it's also possible that some of the renters are older people who want to live near the hospital complex for convenience.
You can also check out neighborhoodscout.com. It doesn't deal with individual properties, but it's great at giving general info about certain areas in a city. It might point out, for example, that most of the people in that general area are middle income and retired. So if an apartment complex is in that area, it's possible (but not necessarily) that the tenants would be older. Young people tend not to want to live in "old fogey, boring" areas.
Another tipoff is to check out what businesses are very close to the complex. If there are bars, night clubs, sports bars, etc., I would suspect the area has at least enough younger people to keep those businesses profitable, unless the street is a main night life street for the city or a larger area.
Ask the management company whether there are other units available for sale and make an appointment to see them. Take your time and request to also see other floors and features of the building. Is the parking garage filled with beaters or well kept newer cars. Asking about the turn over rate will also be an indication of how happy people are in the building.
We also did a drive by of the schools in the morning and afternoon to gather information. I recall a realtor taking us to a house and going on and on about how great the street was. A block away, as we left the house, a grade schooler made a gesture at the realtor's car that killed the whole deal. Later, when we moved to a different area of town, I learned that kid was telling us truth about his neighborhood. So glad we didn't listen to the salesperson and the house was finally taken off the market as it didn't sell.
Forget the realtors or anyone selling their condos being honest about downsides. They'll tell you whatever you want to hear. E.g. is it quiet? Oh yeah, really quiet.
Yea, that's #$%^! Way to smear an entire profession! It's a violation of the Fair Housing Act for a Realtor to give demographic information. Offenders face fines, attorney fees, and potential loss of license and the loss of their reputation. And an agent will want to build a long term relationship with you so that you will continue to send them business. If they know the downside they will tell you because they have a fiduciary responsibility to you, their client, and because they're in it for the long term relationship with you, not just the transaction. If your agent doesn't do that, then change agents.
Do this. After 4:30 one afternoon during the week, or noon on a Saturday, start knocking on doors. Introduce yourself. Tell the condo owner you are thinking about buying there and ask them if they like it. Ask about the board, assessments, nearby shopping, noise level both from adjacent owners and street. "What's the best thing you like about living here? What's the first thing you would change about living here if you could?" You don't ever have to ask about children, they'll probably volunteer the info themselves. You might make some new friends and you'll gain valuable information before you go under contract.
Then show up outside during the times children will be coming and going to school. That should give you plenty of information.
I used to use Polk city directories. I found out quite a bit about the people such as where they work. They used to list all people over 13 or so. I don't know if they still do, if yes you will be able to count the teenagers. Watching who comes and goes is still the best idea. Remember the person that leaves at the same time everyday may be a housekeeper or health aide.
Forget the car idea. You can't learn anything about a person from their car unless it is filthy. Brand, model, type, means nothing. I have driven old man cars my entire life. Knew quite a few with Caddys and Vettes that couldn't buy lunch. I know a SR VP of a large national bank that drives a pickup that he only uses to go to and from work. Anyone that judges a person by their car is a fool.
Of course there are people who don't follow the trend, but most retirees I know own mid-size to large 4 door sedans - typically not brand new but almost always in better condition than the age would indicate. I know plenty of retirees that also have a second vehicle that's not a sedan - in that case it's usually a older model small to 1/2 ton size truck or a smaller model SUV typically in better condition than the age would indicate. I know some retirees that drive minivans, larger SUVs or large trucks, but you would never find them living in a urban condo building.
Besides you can usually tell a retiree car from a soccer mom car based on how clean it is and what bumper/window stickers it has
I'll be sure to let my neighbors know they're driving the wrong vehicles! There's at least 4 retirees within a few houses of mine.....and every single one drives a Lexus or Jeep SUV. There is one guy with a Malibu. He gets a new one every 2 years like clockwork which is bizarre because he doesn't go anywhere! When they go out, it's in the Jeep.
The retired ladies I know who have minivans do a lot of work for their church so they're always hauling people and stuff around. Most of them don't have clean vehicles. Window/bumper stickers aren't really popular around here. The police have done a good job letting parents know not to put stickers of their family make up on their vehicle for safety reasons. It's RARE to see those honor roll bumper stickers......so either the schools don't make them anymore or everyone here is dumb.....LOL I'm going with the schools don't make them anymore....budget cuts and times change.
Is this urban condo building on those high rise buildings? Or is it a 2-3 story building? If it's in an urban area, does it have a parking lot? Some don't. Depending on the city, many folks might not have a vehicle either. Really seems like the OP needs 55+ building. Anything else is going to have some families and some children.
If you want age restricted just ASK. It's a legal definition by federal government law. Then get the documents to see what the bylaws are about allowing CHILDREN GUESTS!
I rented in one who had WAY WAY WAY too lenient a visiting child policy. The pool was FILLED with FULL TIME GRANDCHILDREN LOL.
One day, driving around randomly, I visited a 55+ open house and didn't like any of the condos the agent showed me. So ...thanks, bye. I wasn't even seriously thinking of buying anyway.
Two months later she called me with a new property not listed yet and SWORE I'd love it.
She was right.
She took me all over the place - the common areas like the clubhouse, pools, etc. She also happened to be a resident.
I met tons of people who were great. I also saw the reserves. $3 Million. I saw the docs. I visited the management office and spoke with the administrator.
I gave a deposit with my offer the next day. They accepted. Then scheduled a "meeting" with the HOA (management office) for "approval".
The owners didn't live there and the agent gave me a KEY to go in and measure and take photos etc, told the security gate to let me in and gave me free range access to the place. No, that's not very common. LOL.
But I had plenty of time to even back out if I found something I didn't like and also after the inspection. Which wasn't a problem because the few things I wanted the seller to fix, they did. I didn't have any contingencies except the inspection so I would have lost my deposit if I backed out for a dumb reason, tho.
I've been living here 8 years now and still think it was a great choice. You have to chose wisely. For example the stupid STATE put a law into effect requiring all condo associations to RETROFIT all this expensive stuff like sprinkler systems and HANDRAILS (!) in 55+ UNLESS the residents vote against it. THANK GOD our residents are not goofy and all voted against it.
Moral of the story: Find a good agent.
It's ILLEGAL to divulge anything more than the legal status of the community - ie age restricted....including WHO your potential neighbors may be.
If there's no gate, it's easy enough to observe some things by visiting and talking to people...ie parking craziness, deferred maintenance, wacky breaking of the rules like hanging towels on the balcony, complaints about the HOA....etc.
I'm a dog walker and visit communities all the time for people and I ask the residents questions all the time.
You can also google and read stuff often...at least in FL where there's so much churn about people wanting to move here. Even right on City Data! People ask our sub forum about different subdivisions/HOAs all the time.
Also in FL. every condo/HOA assoc is required to have their documents on file with the state and there's a website we can go read. Also applies to every 55+ community and the census to satisfy the feds rules. You must be in compliance with the HUD rules on "senior housing" to retain your legal status enabling you to age restrict your community.
Last edited by runswithscissors; 08-18-2016 at 12:45 PM..
Is this urban condo building on those high rise buildings? Or is it a 2-3 story building? If it's in an urban area, does it have a parking lot? Some don't. Depending on the city, many folks might not have a vehicle either. Really seems like the OP needs 55+ building. Anything else is going to have some families and some children.
Yes, it is a high rise building. It doesn't have a parking lot but it has a garage next to the building for the residents. From what I can tell, each condo unit gets 1 parking spot---which is fine for us as we only have 1 car. Plus the area is walkable with a supermarket 2 blocks away, which means on nice days, we could walk there.
We plan to visit the area again sometime soon. I would love to find a way to peek into the garage.
No, we don't need a 55+ building. We don't mind some kids around. In fact, I'm sure that there may be a few families with pre-schoolers. As often happens, if a couple lives in a city where the schools aren't great, once the kids hit school age, they sell and move to the 'burbs.
That's what I'm trying to find out ---- where to begin doing the sleuthing?
Anyone have any ideas on how to do so?
The street address of the condo building (entered into an internet search engine) will often yield the names of the owners of many of the units (who may only be landlords, and if so, you may find the same names attached to numerous units), and possibly the number of adults. It's a start.
You may also check to see if any of the units are being rented short term by checking the address with Airbnb, VRBO, etc.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
