Whichever you are talking about, I would say that although nobody has a crystal ball, the price of gas is going to insure that the homes or condo's in close in Atlanta will probably hold there value pretty well over the long run.
In terms of a condo built in the 1980's there are several things to watch out for. There were some issues with siding with homes built in the mid eighties. Louisiana Pacific and some Georgia Pacific sidings were a composite board that had a glue that did not hold up to any kind of water penetration and would swell and de-laminate if there were any kinds of leaks. There was also quite a bit of synthetic stucco which has it's own set of problems. So an inspection with a qualified inspector is important. Also with a property of that age the roofs are coming to an age where they will need to be replaced, so looking at the condominium's budget and financial statements is crucial in deciding if you should buy. Make sure that there is enough cash reserves and find out if the roofs have ever been replaced.
The other issue to check in owner vs renter ratio. This affects the types of loans that are available which may or may not affect you, but will affect the marketability of the property if you ever need to sell!
I usually don't reccomend buying condo's because of the difficult resale. Druid Hills is an exception. There are many older condo's in that area so be picky about the condition, location, & overall status of the complex.
I worked in the Druid Hills area for many years and know the area well and the potential for resale there.
Let me know if I can help you in any way or give you my opinon on the development you are considering.
ERA Sunrise Realty
There are many advantages over being tenant - being a tenant in a buyer's market is what is crazy!
Close to Target...cool.
Get your real estate on.
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Jason + Associates