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Why price of condominium unit is higher on higher floors?

Updated: 8/16/2019
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15y ago

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Less risk of break in.

Better view.

Usually quieter.

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15y ago
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Q: Why price of condominium unit is higher on higher floors?
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What is the difference between a condominium unit and a condominium phase?

A condominium unit is a single unit in a condominium project, whether residential or commercial. A condominium phase is a development period, during which a developer builds, finishes and/or sells a set or collection of condominium units.


How do you get a resale price on condominium that was purchased through affordable housing?

You may be limited by your purchase agreement, in the price you can ask for your unit. Otherwise, a realtor can help you understand the market and how you can price your unit according to your selling parameters.


What is a garden condo?

Usually a condominium complex with a garden, or a condominium unit with a garden dedicated to the unit.


What do you call someone who owns an condominium unit?

Someone who owns a condominium unit is called an owner.


Who pays the property taxes for a condominium unit in Florida?

If Florida is like most other states, a condominium unit owner pays property taxes for the unit.


What is the average price for a 2 bedroom condo in Columbus?

The price of a Columbus, Ohio, two-bedroom condominium will all depend upon the location of the condo, and the amenities offered with the unit.


Is price ceiling an effective measure for renting condos?

When you rent a condominium, you are a landlord. You want to consider why you're renting -- simply to hold onto the property, or perhaps, you want to make money on the revenue stream. A price ceiling is not as effective in setting a price for a condominium rental, as is the current market rate for a comparable unit.


What is the price of a condo?

When you purchase a condominium, you purchase the unit. As well, you purchase an interest in the real estate assets owned by the community. These assets may include common areas, limited common areas, amenities, roadways, parks and so forth. Generally, all these assets are included in the price of a condominium.


Can a condo unit be sold before a declaration of condominium is filed?

Personally, I would not buy a condominium unless my review of the complete declaration was finished. Otherwise, you (and I) have zero idea about the community you're (I'm) buying into. Whether or not it can be sold may be a local legal issue. See your state condominium statute.


Can a unit owner add a window to their unit-not a replacement but totally new?

That depends on the rules and regulations of the condominium. You need to check the Master Deed and the Condominium Trust.


Is a condominium like an apartment?

In some cases a condominium is like an apartment. However, a condominium is form of fee ownership ( each unit owner is the absolute owner of their unit) by which several owners share ownership of a building(s) by each owning their respective units. In a condominium scheme each unit owner also owns a proportionate interest in all other common areas of the project such as the grounds, pool, laundry facilities, community rooms, etc.An apartment is generally a rental unit in the US and Canada. In Europe, an apartment can be a rental unit or a unit in a building that is owned in fee much like a condominium.


Is a crawlspace under a condominium considered part of the condo unit?

Please review your governing documents -- your CC&Rs, to discover the boundary definition for your unit. Look for the section with boundary in the title. There is no standard: every condominium is different from every other condominium.