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Thread: House Backyard facing a Condo Building? Would you purchase?

  1. #1
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    Default House Backyard facing a Condo Building? Would you purchase?

    Hi,

    Just curious to Beyonds thoughts. Would you purchase a house where the back fence is shared with a parking lot of a condo building? If so market price? Or would you look at some sort of a discount?

    The area is a new development with house prices ranging from 200's(condos) to million + dollar homes.

    A bit of info on the place: The asking price of the home is 480k and is just under 1800 sqft. Home is fully upgraded and approximately 4 years old. City assessed value is 435.

    Thanks,

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    Condo dwellers are one step above sewer rats. Hope your immunizations are up to date.....
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    No would not purchase, have passed on properties for this reason
    Sig nuked by mod.

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    I guess it depends on how tall the condo building is.
    If it causes shade on my yard, that might be annoying.
    The privacy argument wouldn't bother me personally. Most people have better things to do than watch me BBQ or whatever.... But it could negatively effect your resale.

    I'd keep looking if i were you.

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    Also more likely to have people looking at you in your bedroom

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    Traffic and parking considerations too. Not the biggest deal but I would look at a discount if it doesn't bother you much.

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    Quote Originally Posted by dirtsniffer View Post
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    Also more likely to have people looking at you in your bedroom
    This is a big benefit if you enjoy showing off.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    You would need to get a huge discount on purchase because someday when it's time to sell you're not going to be able to get the same price for the same house just a block in. You can forget ever street parking. Would not buy.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    +1 would not buy, simply because it will be a headache if you ever sell. Additionally, privacy and parking concerns.

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    Quote Originally Posted by importracer View Post
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    Or would you look at some sort of a discount?
    Discount probably already priced in.

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    Wouldn't be a fan. I'd have to get a pretty big reduction from the competition.

    Is there room and can you put up columnar aspens? That would probably help a ton, and they grow really tall.

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    I wouldn't. Condo parking lots (even heated underground) are also crime hotspots, and they always seem to attract all kinds of homeless people and vagrants. I would never buy a place that backed onto one.

    Also the fact that this is giving you pause is your first clue that it will be a nightmare to try and sell when the time comes.

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    Quote Originally Posted by importracer View Post
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    Hi,

    Just curious to Beyonds thoughts. Would you purchase a house where the back fence is shared with a parking lot of a condo building? If so market price? Or would you look at some sort of a discount?

    The area is a new development with house prices ranging from 200's(condos) to million + dollar homes.






    A bit of info on the place: The asking price of the home is 480k and is just under 1800 sqft. Home is fully upgraded and approximately 4 years old. City assessed value is 435.

    Thanks,

    When you decide to sell your buyer pool will be a fraction of what it would be with a better location..I would move on

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    Depends on location... inner city? Noise, parking, etc is just part of life... burbs? Only reason to be out that far is for peace and quiet. Not wanting to be near a main road, flight path, trains, or condos

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    Make a low offfer. Never know.

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    Quote Originally Posted by max_boost View Post
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    Make a low offfer. Never know.
    All the problems described above about you having a hard time selling it are true, but that also means the current owner is going through the same shit. Lowball it.
    I can eat more hot wings than you.

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    When I look for a home beside the usual items I also look for a location that is not super busy so little ones can hang out in the front of the house. A place that is not close to stop/yield signs or be in direct path of headlights. Good amount of parking is important when guest come visit. More often than not when you are near a condo/apartment parking is tight and people even park way to close to your place. Look for good discount yes.

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    My condo balcony faces two residential houses. One owner has two dogs. I occasionally see him outside scooping up the dog shit.

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    Never be the most expensive place in your immediate area.

    If you are buying $500K house next to $200-$300K condos, you will get dragged down.

    It really depends on location, $480K on assessment on $435K in 2018 sounds way too high anyway, given next to condos, especially in the burbs. Personally privacy preference aside, it's not worth it.
    Last edited by Xtrema; 02-13-2018 at 10:14 AM.

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    Thanks for the info guys. I think I will pass based on all of your advice.

    Out of curiosity sake, for those of you saying to lowball: what would you consider a lowball offer? Assessed value at 435, 440, 450, 460?

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