Post # 1
Is this a good or a bad idea?
We have had mixed opinions about buying a home in an area where there are a lot of apartment buildings. I have had people tell us that it is a bad idea because of saftey (not sure why) and that renters tend to not care for property so home values go down.
Does anyone happen to live in an area near apts buildings and have an experience on this?
Post # 3
I don’t live near apartments (we’ll they’re down the street, but not really close), but when we were house hunting we did look at a few that had apartment buildings neighbouring them. We ultimately decided they were not for us because I didn’t like the idea of having hundreds of people staring in my backyard when I went outside or when my stepson was with us. It just made me feel uncomfortable.
Post # 4
I would worry more about the resale value of your home. You might not get as much or it will be harder sell when you go to sell it in the future.
I think as long as the neighborhood itself is nice then you shouldn’t have to worry about safety and if it’s a nice neighborhood than most likely everyone will want to keep it that way even the renters.
Post # 5
My neighborhood is mostly apartments with a bunch of townhomes/row homes in the mix. I’ve lived here for 3 years, and never noticed any crime, ever. I live in a luxury building in a high-end neighborhood. There are no visible homeless people, despite being immediately adjacent to DC (with the highest homeless population per capita in the country). The vast majority of people in the neighborhood are renters…but that’s mostly because a townhouse with no yard and a tiny balcony sells for $800,000.
I think it really depends on where you are looking. Apartments don’t necessarily mean crime. You could have all homes in a bad neighborhood with crime, or all apartments in a great neighborhood with no crime. There is no generalization like the one that you were told.
Post # 6
Thanks for your replies ladies.
This is just so dang stressful!
Post # 7
It depends on the apartments. I lived one block from apartments for many years without issue, then the city made a contract with them and all of a sudden things started getting stolen, houses broken in to, police helicopter overhead. I sold. Do research on the apartments just like you would if you were moving into them. Drive by them at night to see what kind of traffic and noise are generated. Drive by at the times you would be coming and going to work or traffic on the way to the local school. Those things will make a huge difference. IMO, if you wouldn’t live “in” the apartments, they are prob not ones you want to live near.
Post # 8
In our market in TX, it’s a bad idea for resale and safety. For some reason, it’s always a given that your car is broken into or break in’s etc. But, I’m sure that break in’s can happen anywhere! Good luck on house hunting! If you really love the home than go for it! Just explore your options. Just IMO. I’ve been in real estate almost eight years. Every market is different
Post # 9
Well, as a renter in apartment buildings my entire adult life, I will say that one of the main reasons I am trying to buy an apartment in a coop building is because of the fact that most rental buildings are horrible since people do not take care of their space, inside or out, and do not respect neighbors. The last building I lived in was so bad, people with dogs would let them go to the bathroom in the hallway and not clean it up. And since the management company was also terrible and never fixed anything, the hallway lights were always out so I was frequently stepping in dog poo on my way outside. Also, people did not report vermin problems, so our unit was filled with cockroaches that even came out when it was light out. And of course when I called management, they claimed to have no idea about it and promised to send an exterminator who never came.
The building I live in now is much better, it’s an upscale rental building that consists of primarily well to do families, but still it’s a rental which means people are moving in and out constantly and there definitely still isn’t as much respect for the area as an owner occupied building.
In any rental building there are a lot less ‘rules’ to be followed as far as walls being put up, pet ownership, quiet hours, etc. Which naturally leads to a less neighborly living environment.
So yes, I would recommend that you buy a place in an owner occupied neighborhood if at all possible. I think condo’s are okay, but if it’s a rental building I would probably try to steer clear.
Post # 10
I think it depends. Are the apartment buildings in good shape and taken care of? Then that’s less of a worry. It also depends on how close they are, are they looking into your backyard or they down the street?
Some people just don’t like apartment buildings period but that doesn’t mean that houses in that area won’t sell. Remember, you can have bad neighbours anywhere and you can’t account for everything when buying a house!
Post # 11
It depends on the area. My town doesnt havent many apartment buildings, and the ones that we do have are about a 15 min. car ride away. But when I lived in the city, it was almost impossible to buy a home that wasnt near an apt. building.
Do your research: talk to neighbors, check the online sex offender registry, and call the local police station to ask about crime in the neighborhood. We did all of that when buying our home.
Post # 12
The certain house we are going to look at today is on a street that is one side houses and across the street from low rise apartments.
I actually am not familiar with the area since I dont live in the city so I am not sure what the area is actually like. The house has all the features we are looking for.
I have only seen the area on googlemaps so I am getting a bit ahead of myself but I like hearing other people’s opinions.