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Old 02-19-2008, 08:55 AM
 
45 posts, read 179,595 times
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After looking at rent costs and apt. ratings, it looks like our son is going to buy either a 1 or 2 BR condo in the Smyrna/Vinings area. His budget is 110k-140k. Can anyone reccommend a good, safe complex with reasonable fees and taxes that is suited for young professionals? I am doing some "leg work" for him as he is extremely busy finishing his final semester of college. He will be moving to the area in June to start his new job. Is there a good web site to search condo listings that also give taxes, sq footage and maintenance fee info? Thanks!
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Old 02-19-2008, 07:27 PM
 
Location: Norman, OK
3,478 posts, read 7,227,596 times
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For that price range, there are a few complexes to look at:

(1) Vinings View - Atop Mount Wilkerson, right up from Vinings Village. The 2-bedrooms push outside your limits a bit (generally, 140K+ for those).

(2) Vinings Run - Off of Spring Hill Rd., JUST outside the perimeter. Very quiet but still with amenities (tennis and pools). 1 BRs go in the low 100s, and 2 BR range from 125K - 150K.

(3) Country Place - On Spring Road. All condos under $140K (including 2 BR units).

(4) Countryside at Cumberland - Right next door to Country Place with similar amenities and similar prices.

(5) Hillsdale (I & II) - These are off of Village Parkway in Smyrna (between Cobb Parkway & Spring Road). Lots of floorplans and plenty of 1 and 2 BRs in that price range. Some even have lake views.

As far as fees, depending on whether you get a 1 or 2 BR, the fees will range from $130 - $250 or so per month on average.
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Old 02-19-2008, 11:09 PM
 
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I lived in Waterford Place for six years and liked it there (moved into a house across town when I got married). The location is pretty good, but it's not really Vinings. Super quick access to 75, 285 and Cobb Pkwy. And a very short drive to the jogging trails by the river.
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Old 02-20-2008, 08:51 AM
 
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Thank you for your replies. Is anyone familiar with Vinings Central condos? It looks like they are a gated community.
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Old 02-20-2008, 10:01 AM
 
Location: West Cobb County, GA (Atlanta metro)
9,191 posts, read 33,770,712 times
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Quote:
Originally Posted by cappearc View Post
Thank you for your replies. Is anyone familiar with Vinings Central condos? It looks like they are a gated community.
If I'm not mistaken, those used to be apartments that have been converted into condos a while ago. Someone may be able to confirm that for me for sure.

You want to avoid "conversions". Typically in Atlanta, newer apartments are not built that well (those built after the mid 70s). Thin walls and floors with bad sound insulation, poor fire walls, etc. Someone will come in and buy them out and convert them to condos, but typically this just involves updating the kitchens and carpeting, and no real structural improvements. Places that are built AS condos from the ground up are generally more solid and have better sound/fire insulation.

So watch out for the conversions. He'd just be buying an updated apartment for too much money if that's the case.
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Old 02-20-2008, 07:57 PM
 
Location: Norman, OK
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Quote:
Originally Posted by cappearc View Post
Thank you for your replies. Is anyone familiar with Vinings Central condos? It looks like they are a gated community.
The 2 BRs will be just outside your range (140s - 160s). I visited these condos when I was looking for a place, and they are average I would say. The buildings are also have wood siding, which will mean more upkeep and hence higher HOA fees.

Honestly, I would like elsewhere unless you absolutely fall in love with those condos.
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Old 02-20-2008, 08:52 PM
 
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A piece of unsolicited advice... in that price range, it is unlikely that this purchase will be a great investment, maybe not even a good one. Perhaps look for one in foreclosure or near foreclosure. Atlanta has 1000s of new condos that are unsold. Right now, in midtown Atlanta alone, there is over a 2 year supply of condos, without anymore being built or coming on the market. I realize that it seems silly to rent -- but in a few years, he may be stuck with something that he actually takes a loss on to sell.
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Old 02-20-2008, 10:31 PM
 
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She is absolutely right, they are becoming even harder to rent out now, it's so many of them! And they All look a like on the inside, there's only a few condo communities that actually stand out. It baffles me that they're still coming everywhere, even in the suburbs. I would look into a starter home or even a townhouse just for the sake of a possible re-sale down the road because your son will be stuck with a condo.Check out the Homefinder section of the AJC(Sunday paper) and check out all the builder's incentives that's going on,literally they're giving away these houses.
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Old 02-21-2008, 12:37 AM
 
45 posts, read 179,595 times
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Where could he buy a Townhouse in the Smryna/Vinings area for under 150K?
That's the maximum he can afford with the salary he will have and the downpayment. Keep in mind this is a 22 year old coming straight out of college, but VERY responsible. I can't see him in a single family home or "throwing away" $900/mo. on rent. I do appreciate the concern but feel it is a Buyer's market right now and interst rates are back down again. We need to talk to a Realtor but in my research can't find any townhomes in his price range. Does anybody know of any around here? Thanks.
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Old 02-21-2008, 05:13 AM
 
3,972 posts, read 12,606,700 times
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Actually, there is much information in the financial press, I will try an article or two later for you, or you can look, about how it may be a better financial plan to rent right now.

Prices are decreased, but you can't imagine how long it might take the condo market to recover. It is always the last part of the market, in Atlanta, to do so.
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