When any buyer gets started with their process to investigate the options for homes in the Downtown San Diego Real Estate market, one of the first choices that must be made is whether to purchase a Downtown San Diego Condo or Single Family Residence. There are many reasons that buyers of Downtown San Diego Real Estate choose to explore the options for Downtown San Diego condos over a typical sub-urban single family residence. Obviously, there are pros and cons to every real estate purchase and decision. This list of advantages represent some of the major advantages that a Downtown San Diego condo will represent.
Lifestyle: Usually, one of the deciding factors to purchase a Downtown San Diego Condo is the lifestyle. Downtown San Diego Condos seem to represent one end of the spectrum from a standard single family home purchase. In general condos tend to be smaller in size. As a result, we like to use the term of “right sizing” with our clients. As opposed to “Downsizing”…the term “Rightsizing” refers to getting rid of all the things we collect and do not need. Obviously a smaller living space forces owners to collect and accumulate less. From a lifestyle perspective…less stuff helps with organization and efficiency. Most clients that we work with want to scale down their lives and get down to living the lifestyle of owning only what they need.
Functionality of the Floor plan: Because most Downtown San Diego Condos tend to be smaller in square footage than a sub-urban home, the importance and functionality of the floor plan is very important. Most Downtown San Diego condos are valued on a “Price Per Square Foot” basis. As a result, it is important to make sure the the floor plan is well laid out and efficient. Paying for square footage that is odd and unusable is generally not the desired direction for any educated and savvy home buyer. It is important that the floor plan of any well designed Downtown San Diego condo have a feeling that the square footage is actually larger that it is represented on paper. Desirable criteria for a functional and desirable floor plan include: Large living space, Plenty of storage space, generous bedrooms, natural light, and privacy.
Security: One of the most under-rated criteria of owning a Downtown San Diego condo is security of the unit. In a traditional single family home that is ground level, there are many points of entry when considering all the windows and doors. In a typical Downtown San Diego condo, there is usually only one way in and one way out. When the condo is on an upper floor, entry from a patio or widow is unlikely. Additionally, most condo complexes tend to be located in security complexes. Most likely a FOB or security device is need for entry. As a result…the level of security in any Downtown San Diego condo tends to be something that an owner does not have to consider too often. Comfort level with security is usually a big reason that Downtown San Diego condos are considered more often for vacation or second home options.
Maintenance Responsibilities: Most clients that we work with really value the fact that Downtown San Diego condos have little to no maintenance or “upkeep”. Criteria such as No yard, no garage, no landscaping, smaller square footage, and common area maintenance from an HOA help keep the maintenance low to non existent.
Size/Price: The price range and values for Downtown San Diego condos are very diverse. As a result of this diversity and choice in value…Downtown San Diego condos are often a good opportunity for just about every buyer need. Of course, a smaller Downtown San Diego condo can be appropriate for a first time home buyer. Additionally, there is no shortage of luxury high rise condos in the Downtown San Diego Real Estate Market for the second home or vacation purchase.
Location and Views: We often tell clients that a Downtown San Diego Condo is perfect for a home buyer who “wants to buy a smaller piece of the pie for access to more location and amenities”. A choice for a Downtown San Diego Condo tends to be the direct opposite of the decision for buyers looking for “quiet and private” traditional residential neighborhood. As a result… Most condo complexes in Downtown San Diego tend to be more centrally located, if not in the center of all the action. A valuable Downtown San Diego condo will have walking distance access to amenities like the beach, local restaurants, shopping, and public destinations/park space.
Amenities: From Low amenity to Luxury High rise, the amenities (or lack of) tend to add value to any Downtown San Diego condo. Those home buyers who are agreeable to high HOA Fees expect luxury amenities such as: pool, gym, recreational facilities, security, door attendants, concierge service, and sometimes valet. For those home buyers who do not like to pay high monthly HOA fees, the lack of amenities is very important to help keep cash flow and monthly costs at a minimum.
For more information about the Downtown San Diego Real Estate market, or Downtown San Diego Condos in general, please contact us. We look forward to helping you find you perfect home in Downtown San Diego.