Yes, you heard it and it is very possible to make an over $100K big purchase mistake. Rewind to 2008 I had just moved to Atlanta and my lovely sister Social.Life.Style Blogger welcomed me to stay with her in Lawrenceville, a suburb of the city. Well this became challenging as I worked downtown on Peachtree in the heart of the city and the commute for me was nothing I wanted to handle even short term. So I start the first time homebuyer’s journey to the "American Dream". I thought of myself as a city girl so I decided to only look at condo properties no more than 10 miles from the city. Can you believe I never looked at a single family home? Never stepped foot inside of one? Ughfff (kicking myself). You might ask why? Well I settled on a 2 br/2.5 bath townhome in a growing gentrified East Atlanta condominium.
We all know what happen to the housing market late 2008 so me and another homeowner were the last 2 owners to purchase into our property. Little did we know this is our builder's first investment like this and they think of themselves as being well versed at rental property management? They have since tried to keep afloat financially by renting unsold units in a development that they have not event finished (skeleton units, no pool, fitness center). Imagine our property value with this plus the actual market tank. On top of that we have drug dealers, former or current male/female call girls or boys (yeahhh), people of want to film low budget movies, etc all currently or have lived in our condo community as renters. Gasssp..!
Now imagine this married women living with her husband in the home purchase property from hell. I find myself longing for the gingerbread house in the suburbs of Atlanta. It is sad that as a homeowner me and my husband would not feel comfortable procreating living in our home! I have to apologize for this rant but the market is picking up and people are buying homes. I want to make any unsuspecting buyer in the condo market beware on what is on the other side of the wall. If you must buy a condo I would highly suggest considering only the mature neighborhoods already filled with many homeowners.