Rich, Home Buyer in Atlanta, GA

Townhouses or high-rise condos, which is a tougher sell?

Asked by Rich, Atlanta, GA Sun Aug 26, 2007

If it's a toss up between buying a townhouse and a high rise condo, I'm equally in love with both, which is the better investment when it comes time to sell? Both are located within blocks of each other.

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14
Sondra Class…, Agent, Roswell, GA
Mon Dec 31, 2007
Depends on the property and the price range. People live in the city for a reason and its usually for the view.
0 votes
Kirsten Cono…, Agent, Atlanta, GA
Fri Dec 28, 2007
BEST ANSWER
In general condos are a little tougher to sell, but I've seen some pretty bad townhouses that will take a long time to sell as well.
Key factors in a condo selling will be how much customization and upgrading has been done in the unit--if it's unique compared to the neighbors (in a good way!) it will sell more quickly. Great views on a high floor is always a winner; proximity to things like Piedmont Park always increase interest as well. If it's a smaller complex, you probably won't have as much competition when you decide to sell; some of the larger complexes in town will ALWAYS have 15-25 listings competing at any one time.
And even though these properties don't appreciate as much as single family homes, you're buying a lifestyle-- you can lock the door when you leave and not have to rake leaves or paint the house when you get home! You'll also get the tax benefits of being a homeowner, which has huge financial value.
0 votes
Todd Norsted, Agent, Maple Grove, MN
Wed Dec 19, 2007
In addtion to townhomes typically being easier to sell, because of a wider Buyer base, the appreciation for townhomes is usually superior to condos.
Web Reference:  http://www.toddnorsted.com
0 votes
Eric Mabo, , Atlanta, GA
Wed Dec 19, 2007
Both are tough to sell, but townhomes are probably easier to sell.
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Carl H. Mart…, , Atlanta, GA
Thu Oct 11, 2007
Location, location, location. My gut tells me that Atlanta is a city on it's way to a great reputation. I'm originally from Chicago and the city life here is quite different. In my opinion neither is a GREAT investment...is one better than the other...that's hard to say. Developments like The Streets of Buckhead will play a role in increasing property value in that area. The problem now is that the market is over saturated in both townhouse and condos... I suppose go with what would make you happiest...the investment question is quite a gamble.
Web Reference:  http://www.rkihomes.com
0 votes
James Dudley, Agent, Suwanee, GA
Fri Aug 31, 2007
I think it depends on the area. Townhomes and Condo's attract two types of buyers. Young working professionals and retired empty nesters.

For the young working professional the High rise is more attractive. Townhomes are more attractive to the empty nester.

Both properties can be a tough sell in the Atlanta market because of the abundance of inventory for both property types. New properties can easily be found for the same price as most resale units. It's important to list your property at the right price the first time and be able to market unique incentives to make your property stand out from the others.
0 votes
P Bright, , Smyrna, GA
Wed Aug 29, 2007
Depends on what is different about each. High rises normally have the problem that most units look alike...ie builder offerered only limited options. Whereas most townhomes have better level of custom options and this end up selling better in the long run. High rises will also have much higher HOA fees and cost you more and more over the year. HOA in high rises are famous for not getting along.
0 votes
Deborah Madey, Agent, Brick, NJ
Sun Aug 26, 2007
I believe high rise condos have a smaller audience, but many die hard supporters. Those who like them, really do. There are jsut fewer of them.

Check the history of the appreciation rates, year over year for the last 5 years for both. History is no guarantee of future movement, but it can serve as a guiding light.

Good Luck
0 votes
Bruce Lynn, Agent, Coppell, TX
Sun Aug 26, 2007
In my opinion one is not a tougher sell than another. A lot of people start their search looking at both, but end their search with focus on one or the other. Some people like the views some don't care. Some pet owners want the convenience of a small yard a townhome might offer. Others might not want the yard to take care of. Some people might like the unit entry straight from garage or want the private storage. If you have a lot of guests or are gone a lot, you might like the concierge or doorman service a condo might offer to take care of some of those things for you. Other people might not want anyone to know who's coming and going. It just depends on what works best for them and their lifestyle.
Web Reference:  http://www.teamlynn.com
0 votes
Pam Winterba…, Agent, Danville, VA
Sun Aug 26, 2007
In our area townhomes are easier to sell than condo's. We have a few highrises and the lend themselves specifically to a certian type of buyer. Usually the condo market is a bit more competitive. Also, they do not lend themselves to pet owners.
Web Reference:  http://pamwinterbauer.com
0 votes
Yvonne Jaram…, Agent, Honolulu, HI
Sun Aug 26, 2007
The high rise condo might be easier to sell if you live in an area where the condo has a spectacular view, which the townhome, being lower, does not have - I agree with the answers below, but ultimately, it depends on the property
0 votes
Joshua Jarvis, Agent, Duluth, GA
Sun Aug 26, 2007
Townhomes are easier to sell. Condos are much easier to price and ultimately sell, if and only if you are the cheapest.

With townhomes, there is a bit more customization in them.

It all comes down to the market though, and right now condos are sitting and they are taking the biggest hit.
Web Reference:  http://www.jrjarvis.com
0 votes
Paul Renton &…, , Atlanta, GA
Sun Aug 26, 2007
Those that have the highest inventory and days on market are the toughest to sell. If all are similar then price and incentives are the only tools for a sale. Do you price to list or sell. You need to be top 1/3 in price and condition to stand a chance.
There is a huge inventory of Condos in Atlanta but you have to look at when you will sell and do you have to sell. Mortgages soon will be hard to come by with no money down so the rental market will become attractive. This is a good time to buy and hold. so you may be ain a postion to edge your bets and buy one of each, live in one and rent the other, when it comes time to sell, sel the one that is hotter on the market.
Web Reference:  http://www.teamrenton.com
0 votes
Mr.P, , Arizona
Sun Aug 26, 2007
Traditionally Townhouses are easier to sell.
Location would be a factor, however you are within blocks of each other.

Condo are a tougher sell. Ultimately you will make the final decision. So imagine that in three years you are the buyer. which would you choose.

Good luck
0 votes
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