0 Matthew Klonowski
by Matthew Klonowski
4August
2011

Condos | Resale Pricing Considerations

Typical condo pricing considerations include location, condo building design, natural views and square footage. When searching in the MLS for Barrie condos, there can be many reasons why some condo units are priced higher than other similar units with the same floor plan layout or a similar unit within another condo building.

Let’s explore a few considerations:

1) Amenities and Finishing – during the pre-construction stage of a condominium building, the original purchasers will have had a choice of at least three different packages – basic, middle of the road and high-end. You should be aware of these packages and if the unit owner has done any extra work to the bathrooms or kitchen area.

2) Age of the Condominium Building – the age of the building can be a factor in determining price. An easy example would be to compare a 20-year old condo building to a brand new building. The hallway carpet, hallway lighting, the condo amenities, etc. will be newer.

3) Proximity to waterfront, shopping, restaurants and natural walkways. Location will always play a key role in determining price. You should also consider what floor the unit is on as well.

4) Parking – does the unit come with one or two parking spaces. The Nautica condos parking spaces are priced at up to $25,000 a spot. If you were to view two different condo units on the Barrie MLS – this might be the reason for the difference in price in this example.

5) Storage – how much storage is being offered and what is the usability of that storage space? Will it be very painful to pull everything in and out or can you walk in? Does the storage space have shelving?

6) Condo Fees – Fees vary from condo building to building. Be sure to work with your condo professional to understand the amenities you are looking for. For example, a swimming pool can add considerable cost to monthly condo fees.

Use these considerations when looking in the Barrie MLS for condos. Also consult a condo professional when you are serious about making an offer. A Barrie real estate condo professional will provide valuable information when making your decision.

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