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How is
it possible that two nearly identical townhouses or condos
located a few blocks from one another can vary so radically
in price?
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, the
Condo and Townhouse Expert.
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