Live Work Units Just a Fad?

If you have driven down North Church Street in downtown Charlotte, chances are you have seen the new live-work units popping up like flowers after a spring shower. These live-work units offer condominium owners a chance to own their own commercial property in the same building as their residence.

Live-work units are not unique to Charlotte; in fact these style buildings are popping up all over the southeast in an effort to bring efficient living to a new level. The prices are typically in the 300 to 500 thousand dollar range, and often include limited square footage compared to what that dollar amount would get you for an existing downtown condominium development.

So my question is this, is it a fad? Are these live-work units really worth it? On a recent trip to Columbia, South Carolina I noticed a crop of these live-work units that seemed to be about 60% unoccupied, with rent and for sale signs splattered across the building like paint.

Charlotte's robust economy will no doubt give it an edge in selling these types of units, but you have to wonder if the type of people that would find these suitable for their living and working situations would be willing to spend such an amount on these units.

Further the ultimate question in considering these units is this, would you really want to live where you work?