Should I buy a condo conversion?
September 8, 2006 9:18 AM Subscribe
I'm thinking of buying a condo that was converted from an apartment; am I going to regret it?
posted by bbuda to work & money (15 answers total) 1 user marked this as a favorite
I'm thinking of buying a small condo in downtown Seattle. It's in a great location for me, in the price range I want, relatively new (built in 1998), and I just like it. The only red flag is that it is in a building that was converted from apartments to condos about a year ago. I don't rent there currently; I would be buying from the first owner.
This unit is priced in line with the others in its building, but all the units in this building seem to be priced lower than similar square footage units in the surrounding area. The only obvious reason for this price difference is the fact that it was a conversion.
Are there questions I can ask to ensure that the quality is up to par? What are some signs of good / bad conversions? And is there a danger that units like these don't appreciate as quickly as 'true' condos do?