Carlos everything is relative in life and real estate and the one constant is change. Yesterday I was taking a listing in Williams Island where amenities abound. However maintaining those amenities is expensive and therefore the maintenance fee is accordingly expensive.

As we move ahead the old principle of location is going to once again reign in real estate. If you buy a property in a good central location you will have a good chance that it will increase in value. Also with fuel approaching $4/gal this year and expecting to break $5/gal next year I would be looking for locations that offer public transportation options. So buildings on or near transit corridors will most likely be in higher demand in the near future. Amenities are good, but most buyers are now concern about their expenses.

Wed May 7 2008, 03:13

Carlos in my experience, most buyers I worked with make a decision based on emotions. Compare the difference in maintenance payments and what you get in return. Amenities are always a good selling point. The more amenities the more incentives the buyer has. The same way a two bedroom is easier to sell than a one bedroom apartment.

Wed Apr 23 2008, 11:22

Carlos, that's where a good Realtor that knows the area comes in. You need to compare apples to apples and see if the property is priced well (amenities aside). I have to tell you that properties that are priced well are selling quickly, so really study your offer strategy unless you are willing to loose the property.

Wed Apr 16 2008, 15:24

HMMM... interesting answers.
I found a building in a prime location. brand new, upgraded everything BUT the building has no gym or pool! the maintenance is 50% lower than all the comps. Can I offer less to buy it? will I get less when I sell it?

Wed Apr 16 2008, 14:36

The impact would vary taking into consideration other variables. The benefits would be lower association fees and lower insurance and tax costs. Some buyers prefer lower expenses while others demand a full menue of services and amenities. In most buildings that I've seen, use of the amenities are very limited. I would trade a great location for the amenities any day!

Wed Apr 16 2008, 08:24

My experience with amenities varies. There are people that are not interested in any type of amenities (even if the cost is low) and all they care about is location and privacy. There are others that can't live without valet or 24-hr. security.
I do think there's a market for everything but location is KEY!

Wed Apr 16 2008, 07:02

Hello Carlos,

It would depend upon the location. If the property is in a desirable area, buyer could over look the lack of amenities to compensate for the address. As you mentioned, the pros would be low maintenance.

A lot is dependent on the buyer. Everyone has specific criteria they are looking for. However, if there is a building with amenities and low maintenance costs, and a comparable building without amenities, the buyer may opt for the one with amenities. Sorry, but there is no easy answer.

Wed Apr 16 2008, 06:26