In Bryan/College Station we have many condominium projects. They scale many price ranges and can be a simple apartment like complex, to a very nice condominium with granite countertops, high ceilings, tile and wood flooring and huge walk in closets.
These condominimiums are, at this point, mostly targeted to our student population (though we are getting an increasing number of retirees looking at properties that are further out). Proximity to the college and shuttle route access are two things that really make or break the units targeted for the school. We've had many condos built, sold through the company that was building and when it comes time for resale not selling for anywhere near what people paid for them originally.
When looking at a brand new builder you have to ask yourself many questions
1) What is the builders reputation? We have had a condo project completed within the last two years that is already having structural problems.
2) What are comparable units in slightly older complexes selling for?
3) How do the amenities of this community compare to other communities?
4) Are they a local builder? Do they know the issues with our expansive soils and can they get the project done on time?
5) How are the maintenance fees in comparision with similar properties? Typically when you buy a condo you are paying a monthly fee that, sometimes, can be fairly steep to keep up the landscaping, pool and common areas.
Consult a Realtor rather than going straight to the builder. The Realtor can show you other options, let you know how these units compare to others and ensure that you are getting exactly what your contract says you are getting. This is, most typically, at no cost to you.
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