Condo and Townhome Suburban Living is Just Like Downtown
Condo Sales Activity Heating Up in Chicagoland Market
I recently read an article in Crain's Chicago Business that caught my eye. It referred to two companies; a condo development firm and a condo marketing group that are joining forces to, as the article put it, 'together, the former colleagues-turned-competitors-turned-business partners hope to capitalize on a rebounding condo market, the same market that threatened to put their companies out of business.
“Two or three years ago, (condo developers) had to rent,” said T. J. Rubin, managing broker at Chicago-based Fulton Grace Realty LLC. “Now that the market's rebounding, they can sell.”
Rising apartment rents and pent-up demand, particularly among baby boomers who have been reluctant to sell their homes and downsize, have helped jump-start the for-sale housing market, said Mr. Benson, 60. Tired of feeling like prisoners, many suburbanites have come to grips with the current value of their homes, opting to sell for less in the suburbs so they can buy for less in the city, he said.
As a Realtor® whose primary business has been suburban home sales, I can appreciate how this is a welcome change for this group and everyone else involved in real estate as well. I wish them the best as they must have the insight and good feeling about the future of real estate.
Condo and Townhome Living: Are You Ready?
I have spoken to many homeowners in my market area and slowly but surely, many are softening up to the idea of condo and townhome living. They are growing tired of the time and maintenance responsibilities they have to shoulder on their own. Many really do not need all the space that at one time provided shelter and comfort for what may have been a large family living under one roof, but now there is just the two of them.
Recently I wrote a post about the new apartment complex going up in downtown Orland Park. It is a luxurious rental building. When you add up the features and the rental cost compared to owning, one might agree that renting may be a better option. Condo and townhome living are similar in many respects.
Condo and Town Living: How I Can Help You
If you are considering selling your suburban single family home and want to continue to live in the Orland Park or South, West, or Southwest suburban area, I can help you find a suitable condo or townhome that might fit your needs. Having been a condo owner and currently a townhome owner and HOA board member, I know just what to do to help you find the right fit.
I can help you understand:
- the differences in condo living vs townhome living
- how by-laws are written for your benefit and how they affect you
- what your rights are and how they might affect any upgrades you wish to do to your unit
- how upgrades might affect a future sale for better or worse
- how to get the maximum benefit from paying your monthly maintenance/assessments
- what can happen when you choose not to pay your maintenance/assessment
While you may not appreciate condo or townhome living if you never have had the experience, the demand is increasing and there must be a good reason for it. The simplified lifestyle can be a delightful experience if you are and your family have active schedules.
Give me a call to address any concerns you may have about condo or townhome living. I will be happy to share my insights and soon you could be jumping for joy and say that your new condo or townhome living truly is 'Just like Downtown!'