Hi All. I am thinking of buying a unit in this high rise building (NOT for investment purpose). The pros are good location, modest price and HOA fees, and the residents all seem to like living there when I visit. On the other hand, the biggest con is that it seems to have flooded during memorial day flood, tax day flood, and of course Harvey. For at least once, the lobby got about a foot of water if not more. Resale is slow, with about 6 month inventory right now. I'm not expecting this unit to make money for me, but I am worried if it can turn into a problem that I cannot get rid of.
Will appreciate your thoughts.
If that is the one at 313 by Gallerie I will not hesitate to make an offer. I pass there years ago and would not mind living in that bldg. It is a premium location flooded or not.
By this time next year people probably have forgotten.
Sorry but what by 313 by Gallerie do you mean? The building is close to Galleria, though there are two high rise on Sage road.
As you mentioned resale value is slow, would you want to be in a position in the future where you have to be patient and possibly be frustrated with the sale process & duration? Additionally, when you need access to your cash it won't be readily available for your next purchase or needs. Just something to consider. Galleria area is a very desirable location and that highrise location has good alternative routes or methods to access it.
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