Many condos in downtown San Diego offer waterfront views and the benefits of new developments. Some feature the convenience of walking to theaters, restaurants, shopping, and the harbor, and you may even be able to walk to work. Being aware of certain caveats can make you a savvy shopper. Here are 4 things to look for if you want to make a wise choice on purchasing a condo downtown.
Once you decide on the neighborhood you’re most interested in, consider the direction a condo faces and its location within the building. South-facing units receive more sun in winter, while those facing north tend to be cooler. Street-facing condos have a better view and are more expensive than those fronting a courtyard. Some people who frequent a pool or entertainment room like to be on the same level as the amenity.
A premium vista can double the cost of a unit compared to an identical floor plan with no view. However, should you decide to sell, a great view enables a 30 to 50 percent higher asking price than a ground-floor unit. Most high-rise condos with great water views have comparable city vistas looking east. However, some are obstructed by neighboring buildings. Twin towers often pose this dilemma.
3. Upcoming Development
Currently, nearly every condo slated for construction in downtown San Diego is approved. However, the western waterfront along the bay will soon undergo a facelift, with 12 high-risers forthcoming. These structures will replace the old white Navy buildings adjacent to the USS Midway.
Older structures (those more than 10 years old) often have units with original interior finishes. You may be able to modernize a condo with a bath or kitchen makeover. However, you’ll need to fund the job with cash because you can’t finance the cost with your mortgage.
Tips for Condo Shopping
Before officially beginning your search for real estate for sale in downtown San Diego, create a condo “wish list.” Write down:
- Must-have features
- Amenities you want nearby
- Desired walkability level
- Whether a view is preferable
- Preferred size
- Ideal number of bedrooms and bathrooms
- Interior amenities you require
- Price range of your budget
Avoid comparison shopping based on price. Inexpensive condos may reflect flaws or drawbacks. Start with your original wish list, modifying it to approximate your criteria and budget.
Investigate the condominium association for a unit you’re pondering. Meet with the manager to learn the required maintenance fee and how often it increases. To gauge the financial health of an association, ask to review its financial statements and minutes of recent board meetings.
If you’re ready to take a look at some gorgeous condos in the downtown area, get in touch with 92101 Urban Living. There are many attractive properties currently on the market that we’d love to show you. Call 619-649-0368 today to set up an appointment. ')}