Home Buying in 19027>Question Details

Private, Home Buyer in 19111

I would like to purchase my first home and believe that I might enjoy living in a Condominium.

Asked by Private, 19111 Fri Jan 1, 2010

I have looked at information on the Internet regarding Valley Glen in Abington Township, and the the Imperial Manor Condos on Krewstown Road in Northeast Philadelphia.

I have two questions:

1) Through your years of assisting people buy and sell Condos, what are some of the things that you have learned that Condo Owners have enjoyed most, and what are some of the things that you have learned that Condo Owners have enjoyed least about living in a Condominium?

2) What sort of things in particular can you tell me about the Condos at Valley Glen and Imperial Manor?

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Answers

5
BEST ANSWER
Happy New Year, Private,

You have picked two nice condominiums, however, you are comparing apples and oranges. That is because one is a high rise in Philadelphia and the other is a garden condo in Montgomery County.

1. If you work in Philadelphia, you will have to pay the city wage tax one way or the other. People who work in the suburbs tend to try to avoid living in Philadelphia, because of the high wage tax.

2. If you enjoy apartment style living, you would be pleased at the Imperior Manor, Elkins Park House, Beaver Hill, etc. If you like something that is more like your own home you might prefer Valley Glen.

3. Condo fees at these large condo projects are typically very high. This is often because they include heat, doorman, etc. They have been falling in value in recent years because the average buyer does not want to pay, or is not able to pay, high condo fees. Consequently, the sale price of the condo is lower, but the monthly payment is higher because of the fees.

4. In recent years, many persons seeking an "over-55" community type lifestyle have gravitated to condos like Imperial Manor, Beaver Hill, Elkins Park House, etc. They offer security, some times bus transportation to shopping, etc. If you are a younger person who does not need assistance with transportation and other issues, you will be paying for services which you don't use.

5. Condo sale prices have been falling in spite of the first time buyer stimulus. That is because most of the first time buyers are not interested in paying condo fees, but would rather have a home. This factor influences future resale value for you.

In closing, it's all about lifestyle. If you are planning to stay there for over 5-10 years and would like a more carefree existence - a condo could be for you. The fees at Valley Glen tend to be lower than most places and they are typically easier for resale, in my opinion.

If you need further help or consultation, don't hesitate to contact me.

Happy New Year and good luck!

Carol Cei
ReMax Millennium
215-643-9661
carolcei@remax.net
1 vote Thank Flag Link Fri Jan 1, 2010
Condo owners generally like having services provided for them, such as landscaping, maintenance, etc. Personally, I like living in buildings with elevators, high up off the street level.

The biggest complaints that condo owners have are the same that homeowners have - they are critical of their neighbors and do not like renters nearby.

While homeowners generally like to complain about their taxes, condo owners also like to complain about their homeowners' dues, their Board of Directors, and their property management company!
0 votes Thank Flag Link Fri Jan 1, 2010
The main reason people choose condo living is for ease in life style. They don't have to worry about clearing away the snow or dealing with any outside maintenance. They also like the ammenities that the community has to offer. The downside to a condo are the lack of control you have over your own property and the monthly costs that can go up.

Valley Glen is a community of garden style condos with a few varieties of size and layouts. They also have a small amount of townhouses. Imperial Manor is a high rise condominum. Please let me know if you need any other information,
0 votes Thank Flag Link Fri Jan 1, 2010
You can get a 2 BR condo in the Elkins Park House, which includes swimming pool, tennis course, fitness and more for 30 cents on the dollar!!!!! I'm not kidding!! I actually had a cortract on this unit but my buyer could not go thru with it. I've been trying to spread the word ever since because it is such an unbelieveable deal. It's the kind of opportunites Florida and CA have to offer in this kind of market and very rare to find in our area. As far as resale value, reputation, affordability- Elkins Park House is really your best bet right now.
Let me know if you would like more info on this or other condo communities in the area as Cheltenham Twp is my specialty.

Happy New Year!

Odelia
215-360-7573
odelia@odeliaaminov.com
Web Reference: http://www.odeliaaminov.com
0 votes Thank Flag Link Fri Jan 1, 2010
Morning, Happy New Year to you!
If you want to e-mail or call I can share information with you on the properties you have interest in and also share previous experience information on buyers when they bought a condo.

Regards,

Lesley
lrk328@aol.com
215-767-7433
0 votes Thank Flag Link Fri Jan 1, 2010
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