Hi
Was just wondering if anybody could tell me if there is a marked price difference when buying a unit depending on what floor it is located on?
Are ground floor units more expensive in an area where there is no view?
(I am assuming a view would increase the value of some units)
MJ
I often think this is in the eye of the beholder.
I live in a first floor unit with beautiful river views that the lower floor units don’t have. In my mind I’m certain that the value of my unit is at least $20k better because of the outlook but the lower unit owners feel that their units are of greater value because of the easier access. (One flight of stairs)
If there is an elevator in the complex and with all the units sharing the operating costs, you might feel a bit hard done by if you had to pay some of this cost if you were on the ground floor but not getting any benefit.
One rule that I did learn is never to buy in a complex with a lift – it can be an expensive exercise, especially if some of the units are hoilday renters when the tenants don’t care about how things are treated.
Topnotch
On The Sunshine Coast Of Queensland Where Our Bones Are Always WarmG’day MJ,
There is a school of thought, here in Melbourne anyway ( and as far as I am aware in Sydney also ), that suggests ground floor units/flats have a lower value than those on upper floors. This is mainly because ground floor units are easier to break into from a crime point of view.
Whether this is true or not is another story, but perception is a powerful thing.
Topnotch is also correct with the “eye of the beholder” concept.
Each to their own – if your investigations suggest that crime is not an issue, nor is the “no view” idea, and you can’t find any other negatives, then see what you can negotiate !
Thanks,
BDM
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