Home Selling in 07306>Question Details

Leticia, Other/Just Looking in 07306

How much do the following features add to a home?A parking spaceLaundry room (in unit)Yard or

Asked by Leticia, 07306 Sun Mar 9, 2008

patio
Roof deck
balcony

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Answers

7
Hi Leticia,
The increase in value actually depends on where the home is and whether or not what the demand is for the
feature.....For instance in a suburban locale, a yard or outdoor space is generally not difficult to obtain. However, in New York City...good outdoor space can add a great deal to the value..depending on the address and quality of the building.
In Downtown Jersey City, for instance, a parking space in highrise building may be valued at between $20-30,000. An in unit washer/dryer or laundry room might add (for convenience purposes) $1,000 + or -. A yard,
patio or balcony in this urban area might add several thousand dollars depending on size and fit out.
All my best,
Bert Stinchcomb
1 vote Thank Flag Link Sun May 6, 2012
In my experience as a Real Estate professional in Jersey City, a parking space and or laundry room will add the most value.

Weichert Realtors
Anderson Herrera
201-222-9595
917-418-2192
1 vote Thank Flag Link Tue Apr 7, 2009
Details.. does your Realtor notice the details?

"Asked by Leticia, 07306 • Sun Mar 9, 2008"
0 votes Thank Flag Link Sun May 6, 2012
All these features can vary greatly depending on the location in Jersey City and the building. In general for Downtown Jersey City a parking space is usually valued at anywhere from $30,000 to $45,000.
A washer/dryer in the unit is about $5,000 to $10,000
A patio, roof deck or balcony are harder to quantify depending on their size and exposure. They can be anywhere from $5,000 up.

Outside of Downtown all these items are much harder to quantify. The harder the parking, the higher the price. The smaller the lot sizes in the neighborhood, the more valuable the outdoor space.

I hope this is a good general guide.

Andres Garcia
Sales Associate
RE/MAX Gold Coast Realty
56 Newark Street
Hoboken, NJ 07030
Direct: 201 795-5200 x340
Office: 201 795-0100
Fax: 201 795-1245
andres@milesquarerealty.com
http://www.milesquarerealty.com
0 votes Thank Flag Link Wed Apr 8, 2009
I agree with the other answers, esp. in considering real estate in urban areas. Laundry room or a stacked set installed in a closet space, parking spaces, balcony or roof deck -- all these are quality of life amenities that will not only add value, but most likely reduce the time on the market -- thus getting a better offer in a shorter period of time.
0 votes Thank Flag Link Mon Mar 10, 2008
Hi -

Well, the zip code says Jersey City - so, In Jersey City these are qualities in a home that make it more desirable in this particular area. So, yes they do increase the value of the home, but you need to look at some comps and decide pricing overall.

Talk to a realtor in your area and get some comps.
0 votes Thank Flag Link Mon Mar 10, 2008
All of the above...Everything that you asked about increases the value of any property.Each one is on a case by case basis.The more amenities a property has, the higher the price,and more desirable to more perspective buyers.You cannot put a specific dollar amount on each item,it varies from town to town and state to state.I hope that this information is useful.
0 votes Thank Flag Link Mon Mar 10, 2008
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