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I'm interested in buying a 1 bedroom condo at PP, but read some negative's from the members association. Anyone have anything to offer of the pro's/con's?? They appear to be an excellent investment as they were selling for $40,000 two years ago and now asking for three times that.
By the way, this is an excellent message board. Hat's off to those of you that reply.
Posted : November 16, 2004 8:06 pm
Hello John,
There is a frequent poster on the board by the user name Future Islander who bought a place at Point Pleasant earlier this year or last and has commented favorably about it. Hopefully he can give some personal opinions.
--Islander
Posted : November 17, 2004 6:10 am
Topic starter
Thank you. I'll take a look.
My best,
John
Posted : November 17, 2004 11:52 am
John:
We bought a 1 bedroom/ 1 bath unit at PP in May. We first viewed the property in January (during a cruise stp) and stayed there for a week in April. Needless to say we fell in love with the place.
Your price of $40,000. two years ago sounds low. Even three times that now in November 2005 sounds low. There are currently 7 PP condos for sale. The efficiency is going for (I think) $120,000., but I'd really reconsider a decision on buying that unit. I know of an owner that wants to sell a 1 bedroom/ 1 bath unit on the top of the hill (D units). We own a top of the hill unit - the view is fantastic. If you e-mail me at mikehrom@yahoo.com I'll forward your information to them.
Also, we participate in the hotel plan at PP through Antilles Resorts. This helps to offset the condo fees, taxes and cost of utilities. Actually we hope to make a (small) profit this year.
As for the negative reviews.........PP is not an elegant property. You would be spending in the mega bucks for that. PP, however, is a nice family oriented property that IMHO is well kept and pleasant....also affordable to both owners and vacationers. The two restaurants at PP are great...one gourmet, the other very casual. We like the both of them. We had no complaints during our stay in April and during the "fix-up" of our unit in June. PP is about 25 years old and some units are in need of an upgrade. That's what we did in June.......painted, fixed things that were broken, resurfaced the tile floors, installed a wide screen TV and surround sound stereo system, replaced furniture, china, glassware, pots & pans, added new decorations on the walls, etc.
Our main goal, however, was not an investment, but rather a retreat for us to visit now and during (future) retirement.
Regards,
F.I.
Posted : November 17, 2004 1:33 pm
