Real Estate Charlotte
Urban Dwellings: Defined
based on an article from urbanhome
Individuals who are in the market for multi-family real estate in Charlotte are often faced with a dizzying array of options. In the last few years, the market has expanded to include dozens of options including luxury high rises, flats, lofts, condominiums and townhomes. The following is a brief introduction to the types of multi-family housing options in the Charlotte real estate market.
One Option for Charlotte Real Estate: Townhomes
Townhomes are the closet alternative to living in a free-standing home. With a townhome, you own the land and the “sticks and bricks” of the building. You may, with this type of housing, be required to maintain some or all of the exterior. Most often, there will be a home owner’s association (HOA) and possibly an outsourced management organization. Neighbors are limited to those on either side of your home without stacked units above or below. Depending on design, many townhomes will afford owners pure land ownership in areas for private use such as a patio. Like other types of multi-family development, they may also include pure common areas such as a swimming pool, and other recreation facilities allocated for use by all owners. For many people a townhome is a great choice for real estate in Charlotte.
Another Option for Charlotte Real Estate: Condominuims
With a condominium, your ownership is “paint to paint” or the living area contained within the outer walls.
The physical structure itself is a common element. In most cases, responsibility and payment for maintenance and insurance of the structure is paid for jointly by all owners. Limited common elements may be used in many cases to allow individual owners semi-exclusive use of an amenity like a balcony, veranda or patio.
An outsourced HOA management organization is often utilized in condominiums as well as townhomes. The existence of this service organization is a function of the collective wants and needs of the owners. You will find management companies present in most mid to large developments. Condominium ownership allows developers to stack units vertically as well as horizontally because the land ownership is collective and not private.
A Third Option for Charlotte Real Estate: Lofts
As Charlotte’s residential areas expand into neighboring more traditionally industrial areas, developers have begun to convert old warehouses into loft spaces. These spaces are typically very open, with few partition walls. Be aware of warehouse conversion of construction, paying particular attention to materials used to divide the living spaces (floors, ceilings, walls) to ensure noise is minimized. Also pay attention to common area heating and cooling systems and windows. While many traditional lofts in the Charlotte area do not offer private balconies, buyer’s will typically find larger windows and grand open spaces that allow for abundant natural light.
There are multi-family housing options for every buyer of real estate in Charlotte. An education in different types of ownership and construction types will help you on your path to buying a home that truly meets your needs.
Contact us for more Real Estate Charlotte information
T. J. Larsen is president of My Townhome Realty—a professional real estate brokerage firm that specializes in condominiums and townhome real estate. If you need assistance with buying or selling real estate in Charlotte, call them at 704-377-4567.