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Do you think that a end Unit appreciates more than other units in a town home development?

Do you think that a end Unit appreciates more than other units in a town home development?

I was told that those end units appreciate more than other units in the town homes, is that true? do we have data to show that?
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January 10 2009 - Morton Grove
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Answers (6)

Profile picture for Pasadenan
By the way, what appreciated the most during the "bubble years" is the land.  With condos and town homes, you don't own any land.  But then it is the bubble price of land that is deflating so quickly now.

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January 20 2009
Profile picture for Pasadenan
Sorry, read 4-daughters wrong; she said you SHOULDN'T anticipate a strong return; she is CORRECT!
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January 20 2009
Profile picture for Pasadenan
There is only two advantages of an "end" unit:
1) Only one neighbor to make noise, thus could be quiter; but won't be quieter if on a busy street.
2) More window space, possibly more scenic, or open to landscaping, but in many times not.

So, does this change appreciation trends?  The initial pricing tends to reflect all the features and deficits, thus the trend lines will tend to be about the same on a percentage basis.

In a slow economy properties with better features will sell faster.

4-daughters is incorrect about return on green investments.  Presently most will only pay for themselves in energy saved, over about a 10 to 15 year period.  In a slow economy, no one will pay full price for the used equipment that you had installed.  Some will pay no extra compared to the cheepest unit that you could have purchased.


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January 20 2009
Hello There,

I have two answers for you with a twist. 1. 90% of appraisers will allow $3-$5k value increase for an end-unit - thus suggesting higher appraised value. 2. Home buyers establish "Market Value' based on their willingness to pay an amount based on their comfort.

With this said, here is the twist. Home buyers place their home search into 2 categories:

a. Needs to have: Furnace, roof, dry basement, working appliances, etc. If you're planning on spending big money on an underground 99% efficiency Super-Furnace - you shouldn't anticipate a strong return on your investment. The prospective buyer will appreciate your Green and economic efforts, but views these features as a necessary component of the home. Can't heat the house - cant live in it, etc.

b. Features that appeal: Style, flow, feel, location, quality of kitchen detail, appliances, bedroom size, bathroom count, etc. So why would someone pay more for an end-unit?  Added privacy (1 less nosy neighbor), often end units a little bigger, and 3rdly - they offer light on the side of the home, which inner units do not.  Lastly, when a subdivision has several homes for sale, often the number of inside units will be greater than end-units - making end-units seem scarce, and more interesting.

If you were a buyer, and how would you pick? (Hope this helps)

Mario B.
Four Daughters Real Estate
http://www.soldbymario.com
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January 20 2009
Value is likely higher, but I agree that appreciation/depreciation rates should be similar.
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January 12 2009
Profile picture for klarek the realist
It might be worth more, but since nothing fundamentally has changed, it shouldn't appreciate more.  
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January 10 2009
 
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Do you think that a end Unit appreciates more than other units in a town home development?
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January 20 2009 | 6 answers
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