For resale value, is it better to buy a 2 bed 2 bath condo on a higher floor for a great view or the exact same unit on a lower floor that has a lower street view but is allowed to have hard wood floors?
Good question. The buyers I have been working with absolutely love hardwood floors so we are looking at only lower units.
Higher floor with the view.
One thing that many of the previous posts haven't touched on is the fact that you will pay less when you buy the property if you don't have a view.
The increase in value will likely be fairly proportional to the purhcase price regardless of whether it has a view or not. You shouldn't think that you will you 2 units that are identical, except for the view, and you will pay the same for them today. You will pay more for the view and you be able to sell the view unit for more.
It is unlikely that the unit without a view will increase by 10% and the unit with a view will increase by 20%. It is more likely that the percentage increase will be very similar with both units, but since you paid more for the view you will see the view unit for more. The view may allow you to sell it faster, but the increase will likely be proportional.
Again, you have to live there, so what makes you happier?
Best,
Ray
I will keep this short and seweet. Go for the higher floor. A nice carpet and a great view will sell faster than a nice floor with no view any day.
Hi Rachel,
Great question! We have had this come up a lot recently. One thing to consider- look through the CC&R's of the condo association and also ask the HOA president if they allow people in higher units to put in hardwood floors if they use cork insulation. A lot of buildings in West Hollywood that did not allow hardwood floors in upper units have recently allowed them if people use insulation, which makes them much quieter for the people who live downstairs. If they allow this, you will have the best of both worlds with a great view, no noise above you, and the beauty of hardwood floors! Don't hesitate to let us know if you need any help!
Rachel,
It's LA ..so always go for top floor and view.. BTW..there are some fabulous floor coverings that can pizazz to a unit.
Hi Rachel. The view for sure. Much better for resale
If you need help please let me know
Kind Regards
Michael Barron
First Team Real Estate
(714) 552-6817
michael-barron@sbcglobal.net
Rachel, short and simple...take the one with the view! When you get home from a hard day at work, what would you rather look at? The view or the floor?
Dyanna
Rachel,
I agree with the previous answers. However, you should also consider that more people are becoming more aware of indoor air quality. It may become more important to have hardwood floors in the future rather than carpet. I think that it will be a while before the broad population becomes more concerned with indoor air quality above view. But it is something to consider. Keep in mind that in some cases you can still use a hard type floor on upper levels of a complex depending on the association and the installation of the product. A good product to consider is cork flooring.
Feel free to contact me if you have any further questions and good luck on your home search. Remember you shouldn't just consider resale. Consider how you will like to live there and what is more important to you.
Ray
Rachel,
I would say that about 80% of my buyers will prefer a view over hardwood floors if having to choose. Usually a higher floor unit costs more than a lower floor. If you can afford the higher price you will enjoy future appreciation dollars on the additional investment.
However, it also depends on what kind of view (city ights, water, mountains...) it is and where the building is located. If it is a nice area thn the draw back of the lower floor may not be as great - especially if you have a larger terrace for example. Good luck with your purchase. I know you'll come to the right decision for yourself.
Clemens Mandell
Coldwell Banker
Dear Rachel,
My opinion it is better to buy 3 bedrooms than 2! But that was not your concern! Home with view is more appealling than non-veiw. However for older couple ground floor access that has no stairs is a must have.
Higher floor is less noisy and probably more private. At the sametime nice wood floor makes your condo very attractive. If access is also by elevator than I pick the higher one with the view and pick a nice floor and enjoy living in it. Remember that every home has a buyer and when you are ready to sell you only need one!
Sincerely,
Homa
Rachel -
Higher floor and view. Anyone can get hardwood floors. Hardwood is popular today but may not be tomorrow. Not having anyone above you - better value.
CJ
Hi Rachel, most of my buyers prefer to have a higher floor unit. It offers views in most cases and no one above you. Also, some people feel that there's better security on a higher floor.
But, if hardwood floors are important to you then stick with the first floor.
I'm attaching a link on top 10 tips to buying a condo. I wrote it for Monterey Hills, but it's pretty much applicable to all condos.
Good luck with your purchase!
Irina
I'd go with the higher floor with a great view (make sure there is no potential of building in front to block the view in the future). View sells more than hardwood floors.
Sylvia
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