Blog with the Condo 1's New Agent

Thursday, February 18, 2010

How old is your condominium building in Arlington, Virginia?

As potential buyers and renters are able to do more "homework," gaining access to more information on the Internet about specific condominium buildings, they should beware "false" information. One big factor for renters and buyers in a building is the age of the building. Many websites and MLS listings show the age of the development, taken directly off of tax records, and development records.

A new craze in the past few years is to convert apartment buildings to condominium buildings. This means that the buildings were originally built strictly for renting and then converted to a building strictly for buying. Apartment buildings and condominium buildings have different regulations on building construction, appliances, electric and plumbing. This conversion is mainly to meet the requirements of condominium building status.

One thing many don't know, is that once a building is converted to a condominium building, the building is considered a "new building." The age presented on MLS and websites will show the NEW age (the age when it was converted.) So, many of these converted buildings claim to be a newer building, but were really built many years before that. So, if the age of a building is important to you, make sure you get the REAL age. For example, two buildings in the Arlington area that are conversions are Eastview at Ballston, and Westview at Ballston.

Don't get me wrong, these buildings are terrific. They have converted the properties beautifully, with upgraded amenities, and upgraded modern decor. My main point is just be careful when reading the age of a building, because sometimes this age can be deceiving...

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