Last week I toured The Grove, a condo / townhome development in Forest Park, with Focus Development‘s Tim Anderson.
When Tim mentioned that his daughter had recently purchased a condo, I asked him what advice an experienced condo developer gives his daughter when she’s buying.
“First, be in love with it,” was Tim’s starting point. At the time, the advice struck me as unusual. Driving back to Chicago, however, I remembered that was the advice that savvy counselors used to give years ago, before the obsession with appreciation and investment value took hold.
Being in love with your purchase is a proxy for any number of better-articulated investment rationales. What it boils down to is this: if you’re in love with the property, others will be too when it comes time to sell, and a positive outcome is far more likely than not.
More video from our visit to The Grove in a few days.