Did you ever consider buying a Free-Standing Condo?
Free-standing condos offer many benefits to homeowners. They are very affordable and low maintenance. Unlike typical condominiums, you live in your own building.
If you are in the market for a starter home, there’s no better value than free-standing condos.
Dominion Homes used to build “Villages” of free-standing condos all over Columbus between 2000 and 2008. They have the look and feel of a gated community, with decorative ponds, pretty landscaping, playgrounds and community buildings. They were sold to their original owners for $100K to $140K.
Unfortunately, many of these free-standing condos went in foreclosure.
Now, you can get one of these homes for half of their original sales price.
Yes, that’s a 50% discount on a home that’s in move-in condition and hardly 10 years old.
At today’s super low interest rates of 3% your monthly payment would be $210 (principal and interest on a 30 year mortgage of $50K.) Most people pay more for their car!
That certainly beats renting!
Condo Sell-off at Eastern Glen
Here are two free-standing HUD condos located in the Village of Eastern Glen. Both are in excellent condition. One of them is FHA insured, the other one comes with a small repair escrow.
When we put these condos on the market, we immediately had many showing requests. As you are reading this post, they are probably in contract or have been sold.
There’s a good chance that they will sell for more than list price, with multiple offers placed on each of the homes. I will let you know what happened.
Free-Standing HUD Condos at 50% Discount
2728 Bellero Way, Columbus OH
Asking Price: $50,000
Comparable Sales: $100,000
Year Built: 2002
Sq Footage: 980
2701 Sparrow Hill Dr, Columbus OH
Asking Price: $64,300
Comparable Sales: $110,000
Year Built: 2004
Sq Footage: 1,584
Category: Insured w/Escrow