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Here in Center City Philadelphia, residents have longed to live in Pre-War styled Philadelphia condominiums. There will not be any additional pre-1940 condominiums built but recently Philadelphians have seemingly attractive alternative. From the ceiling to the floor full glass window walls, java hued kitchen cabinetry, and walk-in closets the size of a station wagon now present themselves to the buying public in many urban areas across the United States.

Elevators that run at the speed of light, along with on-site parking, and windows that actually open are now all options that many urban dwellers may now enjoy. The options seem limitless, and the amenities varied when shopping for a Philadelphia condominium in a new construction project. The attractiveness of living in a building that is newly constructed is strong. You know that no one else has yet used your new dishwasher, bathtub in the master bath, or left their dirt behind. Everyone likes the idea of a new car, a new shirt or a new condominium. In addition, with Philadelphia's unique tax abatement program for new construction Philadelphia condominiums, it makes for a powerful one-two punch for a person looking for his first condominium.

In many instances, that attractiveness does come with potential volatility. Many Philadelphia condominium buildings are to make profit by the developers, as it is their business. In a newly formed venture initial start up and growing pains are sure to ensue. Properly hiring and training staff to use the computerized entrance system, the remote garage door, or maintenance of the pool areas all take time to perfect. Properly responding in emergency situations is also a concern for many buying into New Philadelphia condominium projects.

Accountability for unauthorized access into your unit, general security of the building, a new management company can all wreak havoc on the use and enjoyment of your new home. Should you be one of the unlucky very early buyers in many of the new condominium buildings lately, you may be stuck in a building where sales quickly became stagnant. If indeed only 15% of your current building has sold, and you need to sell your unit within the first few years, you may be out of luck, as other units with steep discounts, or builder incentives sell earlier.

You may find yourself having to compete with the developer, who has loads of incentives to offer to potential buyers coming to the building. From lowered interest rates, to preferred parking spots, or additional storage spaces, it should come as no surprise that competing with your developer, is like betting against the house. You seldom win.

In addition, the possibility does exist that you could suffer from some short-term initial depreciation if you decide to pack your bags and move. You may not be able to offer the attraction that often accompanies the idea of being brand new. Again, when buying from a developer, no potential buyer needs to ask if the bathroom grime transfers with title. Alternatively, if that awful futon that your better half insisted on keeping is going to be lingering in the den after you move away. Often the choices of condominium styles vary with location, exclusivity, and amenities.

There is no one size fits all, and old buying habits die-hard. Philadelphians will continue to enjoy the options in the current real estate market and the competition may encourage some older pre-war buildings to shake the dust off their loafers, and invest in the appearance and perception of those Grande Dames of the Philadelphia condominium set.

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