Arizona Republic
The Mason
April 23, 2017
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The Arizona Republic - 04/23/2017
The Arizona Republic - 04/23/2017
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Copy Reduced to 62% from original to fit letter page
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INSIDE THIS ISSUE
April 2017
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CONDO
TOWNHOME
&LOFT
2 High-Rise/Low-Rise Condos;
Builder’s Warranty
3 Termite Warranty; Downsizing
4& 5
Community Maps
&LOFT
Look before
you leap
Five things condo buyers
need to know
By Susie Steckner
T
he Valley is experiencing a
condominium and townhome boom
with new projects that are on the
drawing board or ready for grand openings
at every turn. Here are five things to
consider before picking out your new home.
Location. Do you want to walk out your
door and hop on light rail? Or bike to
dinner with friends? What’s the things-todo quotient of the area? You will want to
consider whether a property matches your
lifestyle — and that means taking a look at
location.
If being in the “middle of it all” matters,
think about whether the area is up-andcoming or one that is established with
restaurants, shops and activities that are
important in your daily life, said Paul
Williamson, principal with True Craft
Residential, developer of the Novella at
Arcadia townhome project in Phoenix.
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Novella at Arcadia
Walkability is also a driving force in
many of today’s condo and townhome
properties which often tout close proximity
to restaurants, bars, shops, public transit,
entertainment and more. Liv URBN’s
Contour on Campbell, for instance, is
a short walk or bike ride to restaurants,
grocery stores and shops.
Contour on Cambell
Construction. The type of construction
can impact a property’s long-term
stability, how a property holds its value,
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Arizona Republic
The Mason
April 23, 2017
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how much noise residents will hear from
their neighbors and more, said Scott Fisher,
“Condominium and attached living is
principal with Liv URBN, which also is
developing The Mason townhouse project in
really more lifestyle driven today than it
Phoenix.
ever has been.”
Construction costs are higher with
—Scott Fisher, Liv URBN
concrete — which translates into higher
HOA. Pretty much all condominium and
purchase prices for buyers — but Fisher
townhome properties will have HOAs
believes that concrete offers stability and
to manage maintenance and upkeep of the
value in the long run. First-time buyers
property. Ask about monthly HOA dues and
should not only think about their entry-point
thoseRepublic
dues cover.
Dues run the gamut
purchase
but how
the homeCopyright
will hold up©in2017 Thewhat
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and should match the level of amenities to
thepm
resale
market,
Fisher [of Liv URBN] said.
April 24, 2017 6:38
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+7:00)
ensure the association is planning for future
Amenities. Newer condo and townhome
needs. Williamson [of True Craft Residential]
projects are loaded with amenities —
said buyers can also ask for an HOA’s reserve
everything from rooftop gathering spaces
study, a long-range capital budget planning
to pet-washing stations to fabulously
tool that helps guide associations.
appointed fitness centers. Properties may
Buyers should know that HOA dues can
also offer technology packages which
impact financing since the dues will be
might include basics like poolside wi-fi
factored into debt-to-income ratios and may
connectivity or more involved smart-tech
affect the amount a buyer can borrow.
inside your home, said Crel Vogel, regional
Parking. Parking options can range from
sales manager for Polaris Pacific, which
surface lots to underground garages
oversees sales for Contour on Campbell and
to private garages. If you are considering
also Optima Kierland in Scottsdale.
a property with communal parking, ask
about the number of spaces allotted to each
unit and whether those spaces are assigned
to individual units. Also ask about the
availability of guest parking.
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