Apartments vs. Condominiums

Finding affordable housing has been a real battle for people here in Bay County for several years.

There aren't a lot of apartment complexes, and some of those are turning into condominiums. That's good news for those who want to buy, but bad news for those who don't want ownership.

It's a growing trend, investors sweeping up apartment complexes and turning them into condominiums. The latest is the Arbours off West 11th Street and Florida Avenue.

The developer completely remodeled the units with granite countertops and all the amenities, and the seller is gearing his pitch to first-time homebuyers, with as little as a $500 down payment.

The Arbours isn't the first to go this route. St. Andrew Harbor Apartments and the Landmark Apartments have both converted to condos within the last three years.

The transition to condos is providing more affordable housing, but there is still a need in Bay County for rental properties. Most of the traditional apartment complexes in Bay County are full, and most having a waiting list. The wait can be as long as three to four months.