As Scottsdale Realtors we work with a lot of investors that purchase condos in Scottsdale as investment properties. Often times these condos are located in Old Town Scottsdale and are used as either long-term rental properties or as short-term Scottsdale vacation rentals.
When looking at Scottsdale condo communities to purchase as investment properties it's important that you take the condo complexes "warrantability" into consideration. There are two types of condo complexes in Arizona, warrantable and non-warrantable.
What does it mean for a condo complex to be warrantable?
There are a few factors that go into whether or not a Scottsdale condo complex is warrantable. One of the most important factors is how many of the condos are investor-owned versus being owner occupied. The greater the number of investor-owned condos exist in the community, the less likely the condo community is considered to be warrantable.
Why do I care about whether a Scottsdale condo community is warrantable?
If a condo community is non-warrantable it is generally much more difficult or impossible to obtain financing as an investor. Often times these condos can still be purchased but only by owner occupants. You're always in the best condition to purchase a condo (or any home for that matter) if it is going to be your primary residence.
If you're interested in specific Scottsdale condos for sale or if you'd just like to speak with a Scottsdale real estate agent about purchasing a condo or other investment property please contact Andrea Lilienfeld at 480-387-3990 or use our contact form to send her an e-mail.
From our site you can search all Scottsdale real estate and Scottsdale homes for sale.