Profile picture for gemster

How do rentals affect the value of my condo?

Hi all,

I am currently looking to buy a new condo, new construction (9 unit complex).

So far 2 properties have sold, however financing is difficult to get given it has not reached the required Fannie Mae occupancy levels. The condo has been on the market for 3 months now.

The kicker is that the builder apparently has decided to start renting out a "few" of the properties instead of selling them.

How should I think about this decision to rent out some of the units here? How would it affect the value of my condo unit?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 25 2010 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (1)

yes, It will affects especially if the complex doesn't get FHA approved which means less people will be able to get a loan to buy it later.

Amir Cackovic, Broker, LEED

[link removed by moderator] = Realtors for a sustainable future

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 26 2010
 
Related Questions
Relocating, VA loan but bad credit
Profile picture for Spencer Adamson
Latest answer by Spencer Adamson
1 minute ago | 2 answers
Typically How much do Home inspections cost
Profile picture for Frank Dugger
Latest answer by Frank Dugger
54 minutes ago | 44 answers
Appraisaled SF is much smaller than the MLS listed SF
Profile picture for Evelyn S. Fred
Latest answer by Evelyn S. Fred
1 hour 0 minutes ago | 8 answers
Owners information
Profile picture for Evelyn S. Fred
Latest answer by Evelyn S. Fred
1 hour 5 minutes ago | 4 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.