Seeing as how I come up first in this search – Condominium Investment is good in Charlottesville, VA – I ought to have an opinion. As with most other question, the short answer is “it depends.” It depends on the development, whether it is a condo conversion or a new development. If it is a conversion, I am more concerned with what percentage of the units have sold already than I am with a new development. Right now, there is one “student condo” targeted at University of Virginia students that looks promising, and the product they are delivering, while corporate, has proven successful elsewhere.
Each client’s investments goal(s) is different and it is impossible to say either “condos are good” or “condos are bad;” each development warrants careful analysis and due diligence.
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