Burlington Condos

Westlake, College and Battery, Hinds Lofts, The Vermont House...Breaking Down Burlington's Most Popular Condo Buildings

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Westlake, College and Batter, Hinds Lofts, The Vermont House...Breaking Down Burlington's Most Popular Condo Buildings

Living in downtown Burlington is a great choice for many.  Why wouldn't it be?  If you pick your condo right, you can easily be just steps from the beautiful Burlington Waterfront, the popular Church Street Marketplace, plenty of parks, the Bike Path, and countless shopping and eating opportunities.  So which condo development is best for you?  Today we'll exprlore some of the selling benefits to each of the more popular projects we find buyers gravitating to; Westlake, College and Battery, Hinds Lofts, and the Vermont House.  

Now, as far as affordability and value goes, the Vermont House is the way to go.  Here you can find quaint 1 and 2 Bedroom apartments, often for the sub-$300k price point.  The higher you get in the building, and the better the views get you should expect slightly higher pricing.  Located at the Corner of Main and St Paul, the Vermont House has one of the best locations in town.  Stroll across main St to he park, or simply head a block east and find yourself right in the center of Church St.  Parking can be a problem as there is a wait list for the private parking lot for the building, but we're told the wait is only 6 months or so, depending on attrition.  http://www.vtbuyer.com/burlington-condominiums/the-vermont-house/

Just down the Street from the Vermont House, you'll find the Hinds Lofts located at 161 St Paul St.  Developed in recent years, the Hinds Lofts is an excellent example of the successful rehabilitation of an antiquated building in downtown Burlington for residential use. The developers maintained the character of the building, yet introduced modern touches and conveniences into the construction of the condominiums which offer a unique living experience. The Hinds Lofts are an easy walk to the Church St Marketplace, the Flynn Theater, and the countless other amenities within beautiful downtown Burlington. The project consisted of just 15 condominiums upon original construction, but the marketing of resale units occasionally arises.  http://www.vtbuyer.com/burlington-vt-real-estate/hinds-lofts/

Geeting a bit closer to the Lake, we'll head West and find College and Battery--of Burlington's finest condominium projects.  Ranging from 1 Bedroom Flats, to 3 and 4 bedroom units and large penthouses, College and Battery boasts not only an ideal location in the heart of Burlington, but most units have fantastic views of Lake Champlain and the Adirondack Mountains.

Enjoy walking to the waterfront, or the Church St Market place for shopping, restaurants, and all that Burlington has to offer- right from your front step.  The condominiums have reserved parking in the private garage, storage in the basement, and secured locked entrances. 

Along with being the exclusive builder for College and Battery, Dousevicz Real Estate was also one of the active brokerage firms used in the marketing of the project when it was first completed. This experience coupled with Brad’s extensive knowledge of the downtown Burlington luxury condominium market from being the marketing broker for a similar luxury condo project, The Westlake, offers Brad the level of experience you will not find in another agent.  http://www.vtbuyer.com/burlington-vt-condos-for-sale/college-and-battery-condos/

The Westlake is one of Dousevicz Real Estate’s most recent and ambitious development and construction projects to date. Consisting of 32 luxury condominiums with sweeping views of the Adirondacks and Lake Champlain, the Westlake is one of Burlington’s most desirable addresses. The condos at Westlake mostly consist of 2 Bedroom, 2 Bath open layouts that benefit from the best location and views in Burlington.  Prices generally range from the low $400k's for lower floor units to over $1,000,000 for upper floor and penthouse units.  Most of the units at Westlake were fully customized during construction so many units are unique in design and floorplan!  http://www.vtbuyer.com/burlington-vt-condos-for-sale/the-westlake/

Although we only explored four projects here today, there are plenty of other condominium projects in Burlington, depending on which location you desire.  Please call or email Brad today to help in your customized search for Burlington Condos!  

Is it a good time to buy real estate in Vermont?

The recent economic "meltdown" has effected the housing market in various ways in the last few years. We can't seem to escape the constantflow of bad news coming from our televisions every night on the evening news, can we? Today we'll explore why it's a great time to buy real estate in Vermont, and the Burlington and surrounding areas of Chittenden county, specifically. The first thing I always remind buyers and sellers is this; Vermont real estate, like politics is first and foremost LOCAL. What's happening in Miami, Las Vegas, or Southern California doesn't really affect us up here in Vermont. Here are some major reasons why:
  1. Vermont did not experience the "Boom" those other areas experienced, and we hence have not experienced the "Valley" either. Vermont's home values, even in the growing of the housing boom, staying fairly level. Vermont has laws that prevent speculative buying, and our building community to did not over-build the available inventory to sell. This has helped maintain home values in Vermont and the more localized areas of Burlington, South Burlington, Williston, Essex, Charlotte, Colchester, and Shelburne.
  2. The current national unemployment level is hovering at around 9%. The unemployment level in Vermont, and more precisely Chittenden County, is nearly 1/2 that amount. The bottom line is that jobs in Vermont have not been nearly as affected as they have in other parts of the country. Employers like UVM, IBM, and Fletcher Allen Health Care have a long employment record in and around Burlinton. There's no reason to believe they'll go anywhere in the time-being, either. If jobs are the key to the economic recovery, and an improved housing market- we're already where we need to be.
  3. Mortgage rates remaining remarkably low. In fact, you can STILL qualify for a low rate of 4.9% for a 30 year fixed rate. This low rate, coupled with the relatively flat but somewhat lower prices than what we have seen in recent years means that homes in Vermont are more affordable than ever. See the link here to a recent Vermont affordable housing study: http://www.burlingtonfreepress.com/article/20110315/NEWS01/103150303/Study-Vermont-housing-more-affordable
Simply put, it's a great time to buy- and there are plenty of great homes to chose from. Contact Brad or begin your home search today!

Condominium Association Dues - What Should I Expect?

If you are searching for a new home or condominium in the greater Burlington Area, you have probably seen many of which have association fees. If you have rented in the past or have owned a home with it's own land, this may be a new concept for you. This post will dive into some of the details of Association Fees, so that you are more prepared when looking at a home or condo that may have them.

  • Single Family Homes May have Association Fees!

    A particularly popular concept in today's real estate market is one of "Carriage Homes." Simply put, these are typically singlefamily homes that are part of an association- similar to that of a condo. You may have exclusive rights to use the land immediately around your home, but the land is technically the associations. Along with this land being "common", comes the need for the association to maintain the lawns, and even remove snow from the driveways. Having limited maintenance is a huge benefit for some homeowners, but buyers should be aware there is an associated cost for such a neighborhood.
    Vermont condo associations

    An example of a "carriage home" in Essex

  • Condominium fees in "high rise" structures are typically based on square footage of each individual unit.

    From a management perspective, this is typically the easiest (and fairest) way to set each units fee. In Downtown Burlington's popular College and Battery complex, the fees can range from $250 for a 1 Bedroom Unit- $800+ for a 3 bedroom penthouse. In such a project, Gas heat for each unit is typically included along with general cleaning and maintenance of the building, along with water and sewer fees.
    Burlington Condo Real Estate

    An example of a "carriage home" in Essex

  • Parking is not always included!

    This is typically something you will need to examine asyou look at more "urban" located projects in downtown Burlington such as; "College and Battery", "The Westlake", "Hinds Lofts" and "The Stratos". Parking (and private storage)at the Westlake, for example, is included with the association fees for each unit owner. Having an attached parking garage makes this possible, but it should be noted that not all condominium projects in downtown Burlington have such a luxury. You may need to pay for off-site parking, which is obviously important to plan and budget for.
  • Who typically manages the association?

    Associations can either be privately managed amongst the homeowners, or contracted out to a private property manager. In my experience, this really comes down to the time that the individual homeowners have to manage their neighborhood. Sending out billing, managing maintenance of the grounds, and making sure you have the best pricing for contracted out services can take a great deal of time. On the other hand, associations that contract out their management will have cost associated with such a decision.
  • Always ask about reserves, and what they cover.

    Home-buyers typically ask how much their monthly dues are, but they often fail to ask how much reserves an association may have on hand. If you are looking at a condominium in a 20 year old complex, the reserves should be healthy enough to cover some major exterior improvements including a new roof, for example. If the condo complex does not have adequate reserves for basic improvements, you may be hit with a large assessment in the future!
In summary, not every association is created equal! Always ask the details of what is included, and never assume anything. When I have represented sellers, I have always found it beneficial to personally contact the property managers or association board members on behalf of my clients. It is something that can go a long way and prepare a future home-buyer for any unexpected expenses.