Question:
How much do you add to the list price of a condo if it is a main floor walk out unit of a building that houses mostly seniors.
The average sold price for 2 bed units in the building is 460,000-480,000.00. There are no recent comps for main floor units.
Answer:
It all depends on it’s location. It’s a busy floor, so if the unit is exposed to the increased traffic, then, this is a negative. Some seniors don’t like to climb stairs, so, if it were “out of the way”, this should be a positive. Rather than a small balcony it could have a large outdoor space. Negative impact if it’s open and public, positive impact if it’s spacious and private.
In this price range, each of these factors could account for a $5,000.00 to $10,000.00 positive or negative.
Brian Madigan LL.B., Broker
Comments 1
If you walk a pet, main floor is good. (NB all Single Family Dwellings have some rooms and most doors on grade level)