What’s My Condo Worth?

by | Dec 16, 2018 | 0 comments

Hint: Condo’s are Commodities

The whole idea of most condominium developments – whether apartment or townhouse – is uniformity in size and design. In the eyes of a lender, appraiser, home-buyer or investor, one 1200 square foot, 3 bedroom unit is worth pretty much the same as the next. Interior finish becomes a somewhat secondary consideration.

Understandingly confusing to many condo owners or buyers, a very similar unit in a building or community only a few blocks away can carry a very different price point for no apparent reason – except that that’s what the last one sold for (in that particular development)!

Condo owners can easily determine what their unit might sell for by monitoring recent sales in their development. It may not sound fair, but that’s the way it works!

I’d love to hear your comments. Have you found this to be true?

Please scroll down and leave a comment below…

Recent Articles

The Cost of Flipping

The Cost of Flipping

“Don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?” There’s money to be made in flipping real estate, but many people are surprised when they hear just...

3 Steps to Freedom

3 Steps to Freedom

“Freedom is the reward of discipline.” Here’s a simple 3-step process to get started, improve #productivity, and lighten your workload… and it works for almost anything you do in your #business, #investing, or personal life!

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *