Debunking 5 Myths About Condos
April 21, 2022
The term “condos” is thrown around a bit, with people defining condos in various ways and being a bit confused about what the term actually means. Maybe your only frame of reference for condos is your Aunt Shirley’s outdated vacation condo that you visited during your childhood, or a condo neighborhood that you’ve driven by but never explored. With a variety of condo communities popping up around Richmond, including in a few StyleCraft communities, we want to go ahead and set the record straight about what you can expect when you Live Up in a StyleCraft condo.
Most simply, condos refer to adjoining units that are privately owned. Often, they’re accompanied by some sort of shared outdoor space or amenities. The style, size, and quality of the condos themselves can vary greatly. Just like with any home you consider, the reputation of the builder matters.
Here at StyleCraft, we’re talking about homes that stack one two-story home on top of another two-story home. In some cases, you can hear these being called 2-over-2 homes. The first StyleCraft community that implemented this design was The Overlook at Hancock Village, and it’s been so popular that we’re bringing it to The Outpost at Brewers Row as well as additional communities that will be rolled out later in 2022.
MYTH #1: CONDOS MEAN GIVING UP PRIVACY
Many apartments or townhouses are built in a way that results in being subjected to your neighbor’s extra loud music or new tapdancing hobby. When you make the exciting leap into homeownership, you certainly don’t want to feel like privacy goes out the window.
We’ve got good news. When you close the door to your new StyleCraft condo after a long day, you won’t be privy to your neighbor’s movements. You might even start to wonder whether you actually have a neighbor. That’s because we build privacy into every layer of your home. Between you and the next unit, there are not one… not two… but four noise-reducing layers. Just like in most homes you’ll have a drywall layer. But out of sight is a firewall layer, insulation, and another layer of drywall so that you can remain blissfully unaware of your neighbor’s day-to-day life.
MYTH #2: CONDO HOA RESTRICTIONS WILL BE TOO LIMITING
Homeowners’ associations (HOAs) accompany a wide variety of neighborhoods, not just condo communities. In fact, all StyleCraft communities, not just those with condos, have an HOA. StyleCraft HOAs take care of common area maintenance and landscaping, set expectations and requirements for community appearance, and some even take care of exterior home maintenance and even lawn care in some cases. Sure, HOAs require homeowners to follow a few rules, but as a homeowner, you’ll likely be glad that all your neighbors are on the same page. StyleCraft HOAs help ensure that everyone in the community is able to enjoy a tidy and well-maintained neighborhood, which in turn helps protect everyone’s property values.
Don’t worry though, you’ll have plenty of room to express yourself on the interior of your home. Paint the walls your favorite color, hang vibrant artwork, pick out a shag rug. You can use the extra time from not having to maintain the exterior of your home to really hone the look of the interior.
MYTH #3: CONDO LIVING IS JUST LIKE APARTMENT LIVING
If you’ve lived in an apartment for any length of time, you probably don’t want your new home to feel just like living in an apartment. We can assure you, that’s not the case. StyleCraft condos come with all the benefits of homeownership and then some. Apartments often lack a feeling of privacy and can feel cramped. By contrast, our condos are built with generous square footage, private entrances and exits, and some even offer 1-car garages making them much more akin to upscale townhomes and single-family homes.
When you invest in a new construction condo, you can start personalizing the space long before you’ve even moved in. Nearly all of our floor plans offer optional features or structural modifications so that you can ensure every square foot of your new home fits you and your family best. Whether that’s selecting a home with a Flex Room that’s turned into a home office, home gym, or extra bedroom, you’ll immediately relish not having to get landlord approval to make decisions about your space.
MYTH #4: CONDOS AREN'T IN PRIME LOCATIONS
Land is more in demand than ever, and you’ll notice that modern condos are tucked into some of our area’s most desirable neighborhoods. We know the areas that people want to move, and condos allow us to make that a reality for more homeowners! We intentionally seek out popular neighborhoods when scouting potential condo locations.
Our two current condo communities are the perfect examples to debunk this particular myth. The Outpost at Brewer’s Row is in Greater Scott’s Addition which is one of Richmond’s most sought-after parts of town. This community is just a stone’s throw from some of the city’s most beloved breweries, restaurants, and recreation. Outside of the city you’ll find The Overlook at Hancock Village in Chesterfield’s Hancock Village shopping center. Typically, walkability isn’t as common outside of the city, but this community’s prime location is within walking distance to shopping, dining, and even your daily Starbucks.
MYTH #5: CONDOS LIMIT RESALE VALUE
Homeownership is an investment and building equity in your new home is something most new homeowners have on their radar. In the case of condos, homeowners can sometimes benefit from a lower purchase cost when compared to a similar single-family home. Condo homeowners also save money on maintenance costs over time because much of the exterior of the home is taken care of by the HOA. Because condos have been around for decades, we don’t anticipate that interest in all the perks they offer will diminish any time soon. But just as single-family homes do, the value of condos will ebb and flow, increasing and decreasing in value alongside the general housing market.
For homeowners who want to maximize the equity they have in their new condo, early adopters of condo communities usually benefit from the lowest entry price point possible, allowing for home value to increase as the community increases in popularity.
New construction StyleCraft Condos aren’t your grandmother’s condo. With homeowner-focused amenities, on trend styles and finishes, and spacious floor plans – StyleCraft condo communities set the stage for Living Up for years to come.