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April 27, 2009
Premiums for property 'perks'
How much of a premium are perks in a property worth today? Do they really add that much to the final price of a place? I realize this is a generalized question but I expect generalized answers.. some things I have seen highlighted as perks in open houses I have been at recently in Bk:
-views (of the manhattan skyline, parks etc.)
-brand new kitchen/bathroom appliances & surfaces,
-private terrace/roof deck
-parking
-gym
-doorman
-skylight
-southern exposure
and so forth..
Additionally for resale purposes is it worth upgrading an otherwise cookie-cutter residence with such perks?
-ah
Comments
All except "brand new kitchen/bathroom appliances & surfaces". That can be added anywhere. The others, not so much.
***Bid half off peak comps***
Posted by: Brownstones Half Off at April 27, 2009 9:27 AM
This is a bogus question, and almost as silly as OP's other post - "What's Fair Value in Bk now?"
Views of the manhattan skyline are worth $127,946.83
It's definitely worth upgrading an otherwise cookie cutter residence, for instance a 2nd story apartment with eastern exposure, with views of the manhattan skyline.
Posted by: Bklnite at April 27, 2009 10:27 AM
As I said in your other post about "fair value", a lot of what you are asking about depends on you...
...do you value views of the Manhattan skyline? do you want a terrace? a private roof deck?
If you want these things you'll be willing to pay a premium for them.
If you are fine living in the first floor of a building with small windows, no view or natural light, with no doorman or gym, then you'll likely find a large place on the cheap. If you want to be on a high floor of a modern/new building with a terrace, views, floor to ceiling windows, etc, then guess what, you'll pay a premium.
As for parking, it's NYC, you'll always pay a premium for parking (and parking is somewhat quantifiable - depending on the neighborhood anywhere from $100 - $400 a month to rent or in the $25k-$200k range for purchase)
What do you want? What do you find valuable in a home? What are the amenities you put a premium on?
Posted by: christopher at April 27, 2009 10:52 AM
I personally hate a new kitchen and bath. That is a place I like to do myself. I don't care about views enough to pay more for them. I private deck of terrace and a free parking spot would mean some thing to me.
Posted by: boroughbred at April 28, 2009 10:00 PM
Agree that it depends on you. For me, I like views, sun, outdoor space. Skylights are a bonus. Don't give a rat'z azz about the other stuff.
Posted by: meerkatz at April 30, 2009 9:19 PM
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