Plaza Midtown vs. Midcity lofts for a Georgia Tech student??? (Atlanta: real estate market, foreclosures)

[atc1093]

I am a business student at Georgia Tech, so most of my classes are in the business school at Tech Square. A possible future roommate and I are looking at these two developments and were wondering if anyone had an opinion of them.

A 2/2 at Plaza is going to be a little less than Midcity, but do you think it would be worth it to buy at Midcity for a little more? Midcity is a little bit closer, so its location is preferred, but Plaza is not that much farther away at all.

Since Midtown is full of foreclosures and great prices, what would you do? If everything works out, my roommate and I would be splitting the cost to buy the condo. Our total budget before splitting the price would be nothing more than 300k, but around 200k would be preferred.

Any opinions/pictures are appreciated! Thanks!

[George Chong]

What do you plan to do when you both graduate? Will you remain in Atlanta? Are you planning to sell or rent the unit after you graduate?

If you plan to sell, I think that 4 years (assuming that you are an undergraduate student) is too quick in this current real estate market to sell again.

If you plan to lease the unit, you need to check with each building and how many/what percentage of units may be leased at one time. Keep in mind if you lease the unit that your profits will be eaten up by the condo fees too.

Which building do you like better. They have a totally different feel to me.

Good luck!

[atc1093]

Originally Posted by George Chong

What do you plan to do when you both graduate? Will you remain in Atlanta? Are you planning to sell or rent the unit after you graduate?

If you plan to sell, I think that 4 years (assuming that you are an undergraduate student) is too quick in this current real estate market to sell again.

If you plan to lease the unit, you need to check with each building and how many/what percentage of units may be leased at one time. Keep in mind if you lease the unit that your profits will be eaten up by the condo fees too.

Which building do you like better. They have a totally different feel to me.

Good luck!

I am not sure what I will do after I graduate. If I do not stay here, I will go to New York City. But I don't think we would be in a hurry to sell right after I graduate. Although I do not think we would have a problem with selling it for around the same price we bout it. That would just mean we basically got a free place to live for 3 years (except for HOA fees, etc.) Housing at GaTech is so expensive, its not a huge deal if the market foes not go up a lot.

I have not toured either of the inside units, but I like how Midcity is Slightly closer, and I like how you have the possibility to get a two-story loft unit. However I do like how Plaza is newer and the units themselves are newer. It is less expensive, but a little bit farther away. I also don't know how easy it would be to sell since all the units in there are virtually the same looking.