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My wife and I have been hunting for a condo now for nearly 8 months. We've had two deals fall through and are at wits end, as this process has been physically and emotionally draining.
On the bright side, we feel we're now searching for properties that meet all our criteria. For example, when we were under contract to buy the two aforementioned condos, we never realized how much we wanted an inroom washer/dryer, and neither of those condos had one.
These are the other criteria:
- 2/2 or 3/2
- Pet friendly
- 900+ sq feet of space
- Prefer updated, but don't mind doing some work
- Not a fixer upper
My wife and realtor feel I am being too picky because of this last requirement: that it should have a balcony/be on an upper floor. They charge we've missed out on opportunities because I have been so picky about the balcony. I figured being on the 2nd or 3rd floor not only affords you a better view but privacy and more security (as well as a place for quiet contemplation, which I love doing)
But maybe I shouldn't let the fact that a unit is on the first floor prevent me from pursuing it. Perhaps I may only use that balcony occasionally and am making a big fuss over nothing.
I am just being very selective since this is a big investment (25% down). What's more, my wife and I want to pick a place we'll be happy with long-term. We don't plan on moving/selling anytime soon. We may even stay there forever if we like it enough. I hate maintenance and am the furthest thing from a handyman -- thus the reason I don't want a house.
Am I being unreasonable? Is having a balcony/living on a higher floor not all it's cracked up to be? This would be my first time living in an apartment/condo so any tips from condo and apartment dwellers are most welcome.
Last edited by Wordsmith12; 08-18-2014 at 08:13 AM..
I don't think that wanting to not be on the first floor is being overly picky. Nor is having a balcony or other outdoor space. I would not (and did not) buy a first floor unit in a multistory building, and I also specified that there had to be a balcony.
However, I think it's important to recognize that in some cases, particularly with a high rise but sometimes even in a low rise, a higher story unit will cost more, and the same thing with a balcony if some units have them but others don't. As long as you are being realistic in your pricing, getting what you want is not being picky. If you are expecting to get a higher level unit with a balcony for the same price as a first floor unit without one, then you need to adjust either your price point or your expectations.
In my experience, it's rare to find a home with ALL your "must-haves." So to me, the smartest approach is to rank your priorities.
That way, you know that if/when you DO find one that checks off your whole list, you should pounce on it. But if you don't, you will know where to compromise.
You already have wiggle room on the number of bedrooms. And if you are not handy, buying a unit that needs a lot of work is a bad idea unless you have tons of discretionary income and extra time to manage contractors.
In my opinion, I agree that your own laundry IS a must because taking laundry elsewhere and having to worry about available facilities and whether or not the load is finished etc. affects your daily life. Likewise, being on the ground floor does affect privacy, noise and security. I would look for other areas to compromise.
You left off the most important criteria, price limit. Knowing what you want is not being picky as long as you are realistic with how the market values that property.
[edit] Nina beat me to it. We were typing at the same time.
We're looking to spend below our means (150k max). To another poster's point, we have compromised on location; we're willing to go further out, as the condos in our original target area are older complexes (condo conversions) that don't have inroom washer/dryer, security, and other modern touches.
When I bought my first condo, I just eliminated any buildings that did not have in-unit washer and dryer hook up. I didn't care if the machine itself was there, but it had to have space and the hook up ready. At least in the area I was looking, it eliminated a few buildings, but not that many. And they were generally older apartment buildings that had been converted to condos without much updating being done, so they weren't particularly appealing anyway. Newer-ish buildings that had been constructed as condos almost always had a laundry closet with the hook ups built in and in most cases had the w/d still there since this was long ago enough that there were not that many options for stackables and they were usually pretty small, so people rarely bothered to take them when they moved.
As everyone mentioned, if you aren't hunting for a purple unicorn, its ok to look for what you want, and to rank your priotrities. Also, if you are prepared to wait for the right one makes a difference as well. If there aren't many of them out there that fit all of your criteria, be prepared to wait longer and pay more.
Being particular is fine if you're willing to miss out on an otherwise great place because of one item on your list. You can't add square footage or a balcony, but laundry capabilities are easy enough. Appliances and countertops are easy as well. I'd go for the 900+ square feet and the balcony first, then rank the others on how important they are to you.
If you feel like you're being reasonable and you are okay missing out on a few places, keep on the way you are. You want to be happy with your purchase.
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