Home Buying in Washington>Question Details

Matt, Home Buyer in

If you had an offer for 1 BR/1BA condo with garage, and another condo for the same price 2BA/BD with no

Asked by Matt, Thu Apr 10, 2008

garage - same quality/condition, and same location, which one has a higher value

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6
Go with the 2 bdrm. It will definitely have better resale value.
1 vote Thank Flag Link Sat Apr 12, 2008
The 2 bedroom 2 bath will have better resell value.
0 votes Thank Flag Link Sun Apr 13, 2008
same complex? same floor? same view if any? Look at the most recent sales and maybe you can get an idea of the difference in pricing. I agree if you are looking at it as an rental a 2 bedroom would be the way to go. But typically you will see anywhere from $7000 to $15,000 dollar value for a garage if you were comparing apples to apples.
0 votes Thank Flag Link Fri Apr 11, 2008
Hi Matt,

Every good agent knows you should only compare "apples to apples". This means we do not do CMAs with 2 story vs. 1 story, just as the value of 1 BR/1BA condo w/ a garage is very different for one without a garage. Price per square foot is just one indicator, but not the ultimate defining factor of VALUE. It would be better to compare all "like" condos w/ garages and also compare all "like" condos without garages.

Here's the other things you can look for in determining VALUE:
- LOCATION! Is one on a busy street vs the other on a cul-de-sac?
- How many days does it take to sell condos w/out garages vs those with?
-Were there any improvements or upgrades, views that would make one more appealing?
-What are the HOD's?
-What kinds of ammenities for living in that particular area? Golf? Jogging paths? Shopping?

Feel free to reach out if you need further assistance.

Best,

Young Hilse
360-480-2451
0 votes Thank Flag Link Fri Apr 11, 2008
Assuming additional square footage, and parking available, the 2 bedroom would command a higher price. It would also be easier to resell or rent when you are ready to move up to the next property. Let me know the specifics, and I can offer more insite.

Dean
Web Reference: http://www.calldeano.com
0 votes Thank Flag Link Fri Apr 11, 2008
Wow Matt, that is a tough one. I think it could go either way depending on the area. I would ask a local agent to run comps based on square footage and see which one ends up with a higher price per foot.
0 votes Thank Flag Link Thu Apr 10, 2008
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