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Old 05-30-2007, 10:13 PM
 
67 posts, read 287,976 times
Reputation: 18

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Condos in uptown are presently selling for around 200-300 $/SQFT which is decently high compared to round 70-110$/SQFT rate in most parts of Charlotte. I am thinking about buying a condo in uptown but this price difference scares me. I am also concerned about all the new development that is happening in uptown which is going to pump couple of hundred condos.

Do you think think condos are still a safe investment compared to suburbs?
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Old 05-30-2007, 11:33 PM
 
Location: Up above the world so high!
45,246 posts, read 95,006,334 times
Reputation: 40098
Quote:
Originally Posted by skaggarwal View Post
Condos in uptown are presently selling for around 200-300 $/SQFT which is decently high compared to round 70-110$/SQFT rate in most parts of Charlotte. I am thinking about buying a condo in uptown but this price difference scares me. I am also concerned about all the new development that is happening in uptown which is going to pump couple of hundred condos.

Do you think think condos are still a safe investment compared to suburbs?
With all the predictions for growth by 2030, YES, condos in uptown are a good investment, in my opinion. The closer in you own property the better off you will be as the city continues to expand outward and people become more and more frustrated with long commutes. Owning uptown property is already a good investment, I can only imagine how valuable it will be in just 5 years, much less by 2030!

And just FYI, any house in Charlotte itself that you are seeing for under $100 a square foot is not in a very good, safe area. I would be very careful buying in the $70 a foot range for sure!
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Old 05-31-2007, 07:14 AM
 
67 posts, read 287,976 times
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Thanks LoveMountains for your honest assessment. I also think that even with all the new construction in uptown, demand will be much more then supply. It is just that seeing so much construction scares me from buying a condo.
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Old 05-31-2007, 08:34 AM
 
Location: Charlotte, home of the NY/NJ refugees
1,384 posts, read 1,644,235 times
Reputation: 275
My friend had a townhome on Morehead by the stadium.
Got transferred to Florida with his job after being there 7 months.
Made $35,000 off it....in 7 months.
Draw own conclusion.
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Old 05-31-2007, 08:39 AM
 
Location: Fort Mill, SC (Charlotte 'burb)
4,729 posts, read 18,531,582 times
Reputation: 1022
Donald Trump plans on bulding condos there which hopefully would add to the value.
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Old 06-04-2007, 01:32 AM
 
Location: Jackson, MS
473 posts, read 1,504,754 times
Reputation: 83
Red face Per sq. ft. price

Quote:
Originally Posted by lovesMountains View Post
With all the predictions for growth by 2030, YES, condos in uptown are a good investment, in my opinion. The closer in you own property the better off you will be as the city continues to expand outward and people become more and more frustrated with long commutes. Owning uptown property is already a good investment, I can only imagine how valuable it will be in just 5 years, much less by 2030!

And just FYI, any house in Charlotte itself that you are seeing for under $100 a square foot is not in a very good, safe area. I would be very careful buying in the $70 a foot range for sure!
I think the per sq. ft. price differs by area. We spent less than $100/sq ft, seems like it was $89 when we bought in Huntersville last July, meanwhile we had friends buy at about $100/sq ft in Harrisburg and I think their neighborhood is crappy. I also believe there is housing going for under $100/sq ft in Huntersville now. I would not consider Huntersville a bad area at all, actually the crime is very low here. Maybe it's just a very good investment opportunity for the price?
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Old 06-04-2007, 06:46 AM
 
Location: The 12th State
22,974 posts, read 62,159,758 times
Reputation: 15014
It amazing a very old board game plays so well if you convert it into today terms or maybe there is a Charlotte Version of the Monopoly game..hmmm

You can buy either North Carolina Ave. or Park Place one cost a bit more both are good investments but one has a higher return over time.
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