What's the deal with condo pricing in Danbury,CT?
Why do some condos sell for more money than others in the same condo project? In several complexes in the Danbury area, prices do vary quite considerably. What is the main reasons for this kind of discrepancy?
-Style:Many complex offer a variety of floor plans. Some floor plans are easier to sell than other for a number of factors such as size and setup of the kitchen, location of bedrooms, size of a garage and more. The style can also include how the lower level is designed, and if it is walkout or not.
-Square Footage: Typically, the large the unit is, the more expensive the property will be to purchase. Additional features such as finished basement and lofts, if applicable, do also add into the pricing. Two bedrooms are traditionally more desirable than similar sized one bedroom properties. However smaller units tend to high at a higher price per square foot compared to large townhomes.
-View: The view out of the road and back door of a condo does effect your property’s value just like it would if you owned a single family home. Bordering open space, overlooking a pond or small brook would be seen as desirable. However, if your unit does face a busy road, commercial, light industrial or power lines, you may be in a potentially tough sale.
-Condition:The interior of the unit does play the largest part of the determining a properties value, in addition to location .A unit that shows well and move in ready does typically command premium pricing since most buyers are not willing to take on major renovations. A unit that is well maintained, but in need of some improvements to bring it up to today’s standards, must be priced accordingly so buyers can improve upon the property the way they see at their own expense.
-Parking: Parking does effect a unit’s value. In some complexes, some units have a garage whereas others do not. Also, in some complexes where the garages are detached, the distance from the front door to the garage can impact the salability and pricing.
-Floor (if mid-rise): In some communities, units are single stories. A main level is often desired. However, over in a couple of complexes overlooking the lake, the higher units are the better . Also a private entrance is generally preferred over a common entry way. A lower level unit (not a main level), typically sells for the least amount of money in my experience.
Is this confusing?Are you looking to learn more about townhomes and condos in the Danbury,CT area? I have experience and handle this issues day in and out. Please contact me at danburyrealestate@gmail.com or visit my website. I look forward to hearing from you.
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