Latest on Condo Conversion's Future

On Friday, November 4th, 2005, an article on the San Diego Daily Transcript written by THOR KAMBAN BIBERMAN it was reported that there are about 15,000 condominium-conversion units in the pipeline in San Diego alone, not counting those in other county cities.

Furthermore in cities such as El Cajon (not included in the number mentioned above), there are 2,213 approved condominium units and a whole lot more being processed.

Some of these, if not the majority of these buildings were originally built as apartments under apartment construction standards as opposed to a few that were built as condominiums and built with, perhaps, a superior construction standard.

Nevertheless, as with any construction, including new construction, what you should be aware of in a condo conversion, or any condominium building for that matter, is that it's not necessarily the quality of the old materials vs. the quality of the new materials that you should be concerned with. It is more complicated than that.

Your enjoyment of living in all homes, especially in bulk condominiums, depends on:
1) a thorough inspection done from your part, the buyer (hire an inspector if you have to)
2) the improvements ordered by the seller, cosmetic & structural
3) the quality of work done by the contractors, sub contractors & laborers that worked on the renovation of the individual unit and/or the building
4) Murphy's Law - what can go wrong will go wrong, and it may not be anybody's fault but Father Time's or Mother Nature (in some instances).

Take for example lots of new construction...pay close attention and you will notice stucco cracks on brand new homes or retaining walls. Or have you ever walked into a model and see that a repair is going on, maybe to the heater or a sink?
Why? You may ask yourself, if it's a brand new construction. Well that is because even new constructions aren't exempt from faulty appliances or laborers who mixed a bad batch of stucco, too thin or to thick.

The difference in new vs. conversion, when it comes to condominiums, or detached single family houses too, is that more than likely the developer will have a warranty that will exceed the one year home warranty that is usually provided with "re-sale homes" or "conversions".

Do you approve or disapprove of condo conversions?