Condos... they're compact, convenient, and usually packed with enough amenities to make you feel like you're living in a holiday resort.
And Virginia Beach condos are no different. The selection here is excellent, from central and family-friendly, to beachside and ready for fun. If you're on the market for a condo, then the Virginia Beach condo market probably has what you're looking for.
Still, just like buying any property, getting into the condo market can be daunting. A lot of ins, a lot of outs, a lot of strands to keep together.
So, if you're looking for some condo buying guidance - here you go...
The Benefits of Condos
To start with, why buy a condo in the first place?
There are many benefits to owning a condo, including:
- Convenient, central location
- Impressive amenities
- Affordable equity
A note on the last point: Condos tend to be more affordable than your average single-family detached home. And although the mortgage payments might be comparable (or even more than) paying rent, you're paying money into something that you own, so it could actually save or make you money in the long run. As such, condos are a great way to get into the market as a first time buyer and to start building equity. They're also excellent for building rental income, or simply as a property investment. More on this later.
Condo Communities in Virginia Beach, VA
Virginia Beach has a huge variety of areas and condos to choose from. Your choice of condo and area will likely depend on what you're doing in Virginia Beach. Here for the holidays? Or maybe you work in the military? Looking for an easy commute? Or proximity to arts, entertainment, and cultural venues?
Here's a breakdown of some of the more popular areas and some prominent Virginia Beach areas:
Chic's Beach - Also called Chick's Beach or Chesapeake Beach, this longstanding beachside community has all the fun but without the busyness of Virginia Beach's main strip. Throw in the convenient access along Highway 13 and you've got a winner.
Town Center - From downtown Virginia Beach, up Atlantic Avenue, this area is great for those who want to be near the action. Restaurants, nightlife, and cultural events are all here in a range of modern and high-rise condos, usually with ocean views.
Hilltop - Surrounded by quiet family neighborhoods, condos here benefit from their proximity to excellent shopping and medical services. A great place to buy a starter property.
Red Mill - A growing area to the south, near to scenic farmland and forests, as well as a few new-construction communities.
Ridgely Manor - Surrounded by parks and sporting facilities, this master-planned community in western Virginia Beach offers a mix of property types and styles.
Kempsville Lake - Relatively central, and near the I-264, this community offers affordable financing options and great community amenities.
Brenham Farm - Condos here range from 1 to 3 bedroom units, with the largest being almost 1500 square feet in size. A fitness center, pool, and clubhouse complete the picture for comfortable living in central Virginia Beach.
Princess Anne Square at Bellamy - Here you'll find stately, traditional detached homes, water features, ample parking, and generous storage and patio space.
Nichols Park at Lexington - Another community in a central location, blending traditional charm and modern amenities. Close to many local employers, and with family-friendly features, this is an excellent community to consider.
Spence Crossing at Princess Anne - Developers of this community made it a point to have as many amenities and services as close by as possible. Condos are mid-sized, from 1300 to 1800 square feet, and come in 5 different designs.
Tips for Condo Buyers
As that old real estate saying implies, perhaps the most important thing about buying a condo is the area. Condos bank on being convenient - so make sure that necessary amenities are also within a reasonable distance. Things like grocery stores, banks, and schools.
Next, you're going to want to check exactly what owning this or that condo entails. What are the rules regarding decor, occupancy, fees, parking, utilities, and so on.
Also: What exactly will you be owning, either outright or in common? Different condos entail different forms of ownership.
Almost finally: make sure that the condo is right for your lifestyle. Condo communities or buildings are usually geared towards a particular lifestyle, whether that's families, active adults, or vacationers.
If you're an investor, here are some questions you should be asking:
- Who is the developer? Do they have a good track-record?
- Will I manage the property myself?
- Do I understand all the associated taxes?
- Where is the neighborhood headed?
Virginia Beach Condos
With the limited availability of land and the high demand for homes, condos are probably going to be increasing in popularity for some time to come. Their convenience, style, and affordability are hard to beat.
So, if you've already made the decision to start looking for a condo - good news! You've made a good choice. Now it's time to double-down on the good choices and make some more.
Hopefully this guide has given you a solid place to start - now get at there and start your Virginia Beach condo hunt!
Interested in learning more about available condos in Virgnia Beach? Don't hesitate to contact Chandler Realty online.