I just read an interesting post at DC UrbanTurf suggesting that when a buyer makes an offer on a new construction condo, that the buyer should also ask the developer for a parking space for free.
Even though many DC condo parking spaces selling for $40,000 or even $50,000 in the District,there are new condo projects in the area which are "over-parked"- the developer built more spots than were ultimately demanded by buyers, so the building has more parking than it needs.
"Parking is the lowest-hanging fruit in the negotiating process," one developer told UrbanTurf. "Once the building sells out, leftover spaces valued at $30K can't even fetch $10K, and many condo regimes won't allow you to sell or lease them to non-residents." The developer will probably be delighted to unload a parking space to the buyer. It is a win win for both parties. It is definately worth it to the buyer to get the parking space, even if the buyer doesn't own a car at present. Then, when it is time to sell the condo, the resale value will be much higher if it includes a parking spot than if it doesn't.
If you are looking for an agent who can negotiate a great deal for you, please give Lise Howe a call. Let her put her negotiating skills to work for you! 240-401-5577 or lise@lisehowe.com! Whether you are looking in DC, Bethesda, Chevy Chase, or Northern Virginia, Lise is the realtor for you!
Comments(1)