Condo and Townhome Suburban Living is Just Like Downtown

By
Real Estate Broker/Owner with Coldwell Banker Residential Brokerage 47-1016768

Condo and Townhome Suburban Living is Just Like Downtown

 by Rebecca Howard

Condo Sales Activity Heating Up in Chicagoland MarketGraph by Renjith Krishnan

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

Jump for Joy by Teddy Bear

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!'

Posted by

Rebecca Howard, Broker

Rebecca Howard, Managing Broker

15255 S. 94th Ave. Suite 544

Orland Park, IL 60462

Mobile: 708.703.0684

Serving Chicagoland and the Southwestern Suburbs

Recognized | Respected | Recommended

It's important that you know, my purpose is for you to be so outrageously happy with the help I provide that you'll gladly introduce me to at lease two people you really care about before your transaction closes. Not because you feel obligated, but because you truly believe they'll benefit.

 

 

 

Comments (6)

Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Enjoyed playing telephone tag with you today and glad we finally got a chance to talk. 

Jun 06, 2013 09:42 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Rebecca - There are a lot of positives to condo and townhome living.

Jun 07, 2013 11:20 AM
Rebecca Howard
Coldwell Banker Residential Brokerage - Orland Park, IL
Recognized | Respected | Recommended

Hi Margaret. Nice to hear from you. A real treat.

Hi Michelle, we live in a townhome and love it. Lots of space for two people and we have an end unit so we have open view from 3 sides. Actually its the best one of them all IMHO.

Thanks for the response.

Best Wishes to you in FLA.

Jun 08, 2013 03:45 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Rebecca:  LOVE love love that you are talking and educating about these two portions of the real estate market ... condos and the Orland Park market!  The Chicagoland condo market is diverse .. and demands that you find and work with experienced real estate and mortgage professionals.  I give a huge thumbs-up to your advocating for this niche ...

Gene

Jun 11, 2013 03:42 AM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Rebecca, you did a great job with this post. There are positives to both condos and townhomes and I'm sure you'd be happy to help discuss them with potential buyers.

Jun 12, 2013 04:33 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

For all of your Chicago, and surrounding area, condominium needs contact Rebecca Howard. Real Estate agent, Rebecca Howard, is your Chicago, and surrounding area, condominium expert.

Jun 17, 2013 02:17 AM