Home Buying in San Jose>Question Details

First Time B…, Home Buyer in San Jose, CA

Is the 3 level loft in Plant 51 San Jose Dowtown a good investment? It's the most expensive floor plan in there.

Asked by First Time Buyer, San Jose, CA Fri Nov 27, 2009

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The Alameda and downtown area has been hit hard in the last two years. Multiple new projects and many purchases in 2005-2007 created a large bubble for that neighborhood. With that said, a large grant has been given to the Alameda neighborhood for improvements and business development. They want to make it the next "go to" place for dining and entertainment. Certainly, there have been huge improvements in the neighborhood in the last 5 years.

There is a lot to consider when looking at the "investment" potential of any property.
- Are you buying simply as an investment or is there value in your own personal use of the home as well.
- Do you plan to be there 7-10 years? The most likely point for appreciation coming out of a down market.
- Mass transit (CALTRAIN) , convenience to shopping, local employment opportunities will also add value.
- Well maintained property (good HOA mgmt) will also help to retain any invested dollars.
- Location of actual unit - Best value comes from best position in the complex.
- Lifestyle/design that will not be outdated. There is a historical and lifestyle sell with Plant 51. Many attached homes don't have that. Good for re-sale.

All things to consider and probably a couple more that I have captured here. Hope this helps.

CJ
Web Reference: http://www.TalkToCJ.com
1 vote Thank Flag Link Sat Nov 28, 2009
Hello Buyer:

Longer term definitely it makes sense and you will do well. I have toured the property and definitely
all the high rise developemnts down town San Jose will do well due to:

1.) Close proximity to High Tech businesses
2.) San Jose State
3.) Shopping
4.) Access to a terrific library
5.) Access to Play and Drama halls
6.) City hall and several Govt. entities
7.) Banks.

I have sold some in the High Rises there and its important to get the right views and
the level. Higher the level, better the values.

Call if you need any other help 408-656-5343
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Mon May 24, 2010
CJ, what is considered a "good" location in the complex? I would assume that every buyer has different preferences, eg view or top/bottom floor etc. Can you give us more info about resale value and position in general? Thanks!

Also are 2 bedroom condos in a downtown location a better investment than a 1 bedroom or is San Jose so full of single young people that 1 bedrooms appreciate better!
0 votes Thank Flag Link Sun May 23, 2010
Would you mind sharing the other options in the same general area and what amenities you think will help keep up the value of the homes.

Thanks.
0 votes Thank Flag Link Wed Dec 16, 2009
I've toured that property and have concluded that it is a good investment in regards to location. I was told that the empty lot across the Alameda will one day have a Whole Foods sitting on it. The downside is that that property has no pool and only a couple outdoor grills (if outdoor living is important to you this could be a deterrent). I was considering buying one for myself and decided that there are some other options with the generally same great location, but with additional amenities that will help keep the value up and more desirable when I am ready to resell.
Web Reference: http://www.thedodgeteam.com
0 votes Thank Flag Link Thu Dec 3, 2009
I think most properties in Downtown San Jose are good investment in the future. New City Hall, San Jose State Uni., and some new business may be coming like hospital, big company ect.. but one thing we need to remember: the provider should be equal the need, not surplus.
In your situation, I do not know your income but I think you need a house for living,and fix with your budget ( good school, good location).That is the best investment fot first time buyer. thank you
0 votes Thank Flag Link Sat Nov 28, 2009
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