Home Buying in Midtown>Question Details

 Ganyi, Real Estate Pro in Princeton, WV

We are considering to buy a condo for our son who is in GA Tech. We prefer a 2 bedroom, 2 bath. Is 620 Peach St. a good choice? Thanks, Dong

Asked by Ganyi, Princeton, WV Thu Feb 7, 2013

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Ganyi’s answer
Thanks for your responses!

Being landlord ourselves, I understand it is tough to manage it long distance. But right now my son and 3 his friends are going to pay for 3000/month (750/mon/person) to share the 4 bedroom, 2 bath (1300 sqft). Somehow, I feel I can help them do better than that. Either renting or buying is fine to us. They are 19 yrs old, I don't know how many landlords would like to rent to them. Even someone is willing to rent to them, it is very hard for those kids to tell it is safe or not.

What is the vacancy rate in the area? Where is safer area near the campus? Does anyone have any idea how other parents do this?

0 votes Thank Flag Link Fri Feb 8, 2013
I own a 2 bed 2 bath in 800 Peachtree St. Many GT students and professionals live in our building. Some GT students rent, although only 20% of our units may be rented, several are owned by parents whose student children live there, and the others are owned outright. I have been considering selling our unit and will probably do so in the next year. It is on the top floor at the end, so only one neighbor and no-one above. It is about 1200 sq ft. Let me know if you are interested in discussing this further.
0 votes Thank Flag Link Sat Jan 11, 2014
What will you be asking for your unit?
Flag Mon Feb 24, 2014
Renting is likely to be the best option - this avoids the headache of buying, maintaining and ultimately selling the unit. Part of the college experience is living with far too many roomates, fighting for a bed and failing that, sleeping on a pile of laundry to make the keg pillow more comfortable.

Web Reference: http://www.hmtatlanta.com
0 votes Thank Flag Link Fri Feb 8, 2013
These type of madcap zany antics do not occur at GA Tech, Hank.
Flag Fri Feb 8, 2013
If you are interested I can set you up on a search where you can search like an agent and see what's going on in the market on a daily basis. Send me an email to pam@metropolitanhomesatlanta.com and we can go from there! Have a great day.
0 votes Thank Flag Link Fri Feb 8, 2013
Thanks everybody! My son seems will stay in 100 Midtown with over 10 other kids for 2013-2014 school yr. But we want to keep on looking, and we can buy anytime if the opportunity comes---of course only if it is easy to rent out. Right now he only wants something with walking distance to campus and relatively safe.Amenities are not very important for them, they are more cost sensitive. I understand in order to attact professionals tenants, amenities and parking are very important. So have to balance them.
0 votes Thank Flag Link Fri Feb 8, 2013
If you are prepared to invest $200-300K, then you will be better positioned to obtain the type of attractive rental property that you seek. Otherwise, you are bottom feeding and compromising on amenities, exclusivity, security and finishes...
Flag Fri Feb 8, 2013
Hi Ganyi, there is only one unit available in this building with 2 bedrooms and 2 bathrooms.
And there is one 2 bedroom with only 1 bathroom. As far as this building being a good choice for your son, what type of amenities or other criteria are important to you when choosing a condo for your son?

The Windsore Over Peachtree offers convenience to GA Tech and the Midtown entertainment.
Let me know when you are available to view select units in this building or nearby.
I am available to assist.

Laquita Baez
Licensed Realtor in GA and NJ
Better Homes and Gardens Real Estate Metrobrokers
0 votes Thank Flag Link Fri Feb 8, 2013
What are your other choices? The Windsor is OK, and Hank offers sound advice.

I suggest that using MARTA will enable more options that you will probably like. Look eastward, look southward and look westward for value.
Web Reference: Http://intowninsider.com
0 votes Thank Flag Link Fri Feb 8, 2013
I have sold a few in the building and have a friend who lives at the Windsor. There are not many 2 bedrooms available at this time. When do you plan on coming to Atlanta? I am originally from New York and a lot of my clients are northerners purchasing property for their children at Tech. I would be happy to help you and your family.

Pam Handler
Atlanta Communities
1801 Peachtree Street, Suite 100
Atlanta, GA 30309

0 votes Thank Flag Link Thu Feb 7, 2013
Hello Ganyi, I appreciate your question and believe that it might be wise to offer you some alternative suggestions. However, certainly safe and convenient parking will be critical to your final decision. Relevant as well will be the future potential of the community, are the HOA fees reasonable and what is the potential of pending or probable HOA assessments. Convenient access to major roads should be a serious consideration as well. With these few factors in mind it might be worthy of a conversation to allow more detail. I am at your service.
Patricia Queen
0 votes Thank Flag Link Thu Feb 7, 2013
I've sold several in here - and appraised many more foreclosure units....

Good idea as this can be less expensive and might be safer than tech housing - however you will need to buy it right and consider the monthly HOA fees as well. Those can get expensive - several hundred per month and that can skew the math.

I would suggest caution; the idea is sound the execution can be sound given proper research into the myriad of influencing factors. I'm familiar with all of the options around tech, I've done this exact thing for Tech, Emory and smaller school parents in Atlanta for many years. Getting in needs to be researched but so does carry costs and the exit strategy.

Let me know if I can help - Hank
Web Reference: http://www.hmtatlanta.com
0 votes Thank Flag Link Thu Feb 7, 2013
I have sold a few units in this building before and it is in walking distance to Tech, has covered parking and security. I would say that it could be a good choice for a student. There are only a couple 2 bedrooms left and you never know in this market how quickly those will go. My suggestion is to work with a Realtor who can set you up with the tools you need to be successful in acquiring a property for your son. I would be happy to have a discussion with you. Thanks!

Sarah Moore
The Live in Atlanta GA Team
Keller Williams Atlanta Midtown
0 votes Thank Flag Link Thu Feb 7, 2013
Hello Sarah,
I am also looking for a 2 bedroom apartment for my daughter who is going to start her freshman this Fall. Should be close to GT with a budget of circa. 200k. Pls email me at ateesc@gmail.com

Thanks. Aaron Tee
Flag Thu Jul 18, 2013
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