How is it possible that two nearly identical townhouses or condos located a few blocks from one another can vary so radically in price (often by more than $10,000)?

Disregarding for a moment the interior improvements or up-grades that sets one townhome apart from another, let us consider exterior factors that influence the price. For example, townhomes backing up to main streets that lead in and out of a neighborhood might be less desirable and could appreciate more slowly than those separated from primary thoroughfares. Within a community, some factors affecting the price are: the location of the unit within the complex (End unit vs. interior unit, backs to woods, near a playground, golf course or on a pond) and the taxes. Also demand for particular models or demand for townhomes in a particular community, location of the complex (accessibility to major roads and public transportation) may affect the price. 

Existing townhomes may differ radically in price for another reason: while one homeowner wants to sell, another may have to sell. It is easier to negotiate with the latter because he or she must vacate for one reason or another. The former will, of course, be more difficult to negotiate.

The purchase of a home is a significant financial (to say nothing of sentimental) investment. Remember to take all of these facts into consideration as well as your own personal preferences. To ensure you have all the information you need to make a good choice and for details about your particular model, please call Smitha.

For additional facts regarding buying or selling a townhouse or condominium, call Smitha, your Condo/Townhouse Expert.