There are many people seeking a solid Charlotte real estate investment but a single family home does not fit your lifestyle. Some of these people include seniors, single professionals and young couples just starting out and tired of paying rent. Charlotte Condos for Sale may be what you are seeking. There are several caveats to consider as you discover the Charlotte Condo market.
Charlotte is still a very new city. The condo market in Charlotte NC is still in its infancy. Many developers/investors did not do much research and just threw in their cash. Not a wise move.
You must first consider your market niche and decide why would a person want a condo in this location. Condos are to offer a more affordable home or convenience. Convenience is to either work and or night life. Condo developers swarmed in uptown Charlotte a couple of years ago without noting that the rate of condo development was far exceeding demand. Ultimately this challenged outer area condos because uptown Charlotte Condos were all the rage.
The rage has subsided and now many Charlotte Condo investors are holding onto empty condos. There will be many deals on uptown Charlotte Condos but please consider call of the expenses prior to buying. I do not share this to take you away from the condos but please consider these a longer term investment and be assured it is affordable for your budget. I do not want you to repeat the process that has occurred in uptown.
There are also areas where condos make a lot of sense. For example consider Piedmont Row in Southpark. Piedmont Row is a very nice complex with a great location in Southpark. Since Southpark attracted thousands of professionals that spend a couple of weeks a month at this office. These Southpark Condos are designed with you in mind. Due to the over development of Uptown Condos, many condos in outer areas (such as Southpark) did not see much activity over the past several years.
The areas such as Southpark will be ideal to take advantage of the slower market there. You can purchase condos below market value and be comfortable that you investment will appreciate over the next 5 or so years. These outer areas will recover much faster than uptown. Uptown Charlotte condos will take a while before our population meets the supply. In the mean time many of the 'investors' will let these homes go back to the bank.
Opportunity is all around. You just need to trust an expert that has your shared interest first. Visit my Charlotte Real Estate website for additional information of the greater Charlotte NC Homes market.
