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Answers (6)
- Arpad Racz, "aracz"
- Contributions:206
Hi,
Is it an end unit as well as an upper unit? More lighting is one of the keys.
All the best,
Arpad
Is it an end unit as well as an upper unit? More lighting is one of the keys.
All the best,
Arpad
- Janice Gatlin, "tahoeforsale"
- Contributions:13
Agree with many of the answer: ; it depends on many factors. For example, I have a 2nd floor condo listing in snow country with no interior access. The views are much better than the lower level and it's quieter, but it is worth less in the winter than a lower unit because of the exterior stairs.
If you have a greatly improved view, such as a lake view by being on the upper level, it can increase (in our market) the value by as much as 100K depending on the 'base' value of the units in general.
But, yes, many more folks are looking for the lower units with no stairs as well.
Easiest way to determine the answer is to have an agent do a CMA (comparative Market Analysis) for you which should help narrow down the value differences for that particular area or complex.
- Steven Porzio, "Steven Porzio"
- Contributions:16
It really depends on the buyer. For instance,I have a downstairs condo listed, nicely done and I have people who don't want stairs interested in the home.
- jag2233
- Contributions:1
As a condo owner of a 2 level suite, I can tell you pro's and con's for low rise condos.
Upper-level
- Immune to noise, you generally will not hear things below you
- More secure against property crime
- Private balcony with some view
- Ability to access roof and do wiring or storage.
- Light is generally better is there are sunroofs.
- Cannot run noisy stuff at night (dishwasher/washer/dryer)
- Smoke from bbq below will rise up to your balcony
Garden-level
- Can include a nice garden area, albeit not private
- Easier for seniors since no stairs
- more susceptible to ant's and pest issues.
- Leaking water from balcony or fireplace will end up in your suite
Some of the noise factors depend on construction, newer condos are much more immune. Also watch out for being on top of a shared garage, that is quite noisy in older construction.
- Francis Rolland, "frolland"
- Contributions:130
Often it is more desirable to be on the top floor, because you won't be subjected to the noise of people walking above you.
But this question is changing rapidly in the US, and I know in my area it certainly is, as the population is aging. The new buyers of these condominiums may be much older than before, and they do prefer no stairs, or elevators. Hence a first floor may be more desirable in many cases.
I would say it depends on the demography of your buyers, in your area.
Francis
But this question is changing rapidly in the US, and I know in my area it certainly is, as the population is aging. The new buyers of these condominiums may be much older than before, and they do prefer no stairs, or elevators. Hence a first floor may be more desirable in many cases.
I would say it depends on the demography of your buyers, in your area.
Francis
- Chris Eisenhard, "Chris Eisenhard"
- Contributions:12
Good question but tough to answer as it really varies depending on your location, unit size, demand of the building, etc. I can tell you I have a garden level unit I own here in Denver I am trying to sell and not to many buyers are liking the garden level!!! I would guess I'm going to lose out on $10,000-$15,000 because of being on the garden level as opposed to being on floors 1 or 2. This is in a price point of $110,000 - $140,000 for the units in my building.
How much extra property value does owning an upstairs condo yield as opposed to a downstairs units?
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