Vancouver Condo Real Estate Video Blog #646 - March 8, 2011
How Much Should The Value of a Vancouver Condo Increase Per Floor ?
Ian Watt video blogs about how a client has recently asked this questions, How Much Should The Value Increase Per Floor? If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years.
Ian Watt: Hi good afternoon it's Ian Watt in Downtown Vancouver. I have a client and they asked me this great question and makes a lot of sense because developers in general charge about two thousand to twenty five hundred dollars per floor if your buying in a pre-sale. So obviously if it's the third floor it's three hundred thousand the second floor maybe three hundred and two thousand and it goes up incrementally. But in re-sale that doesn't really matter nobody gives a trap on what you paid for originally. What's important is that the floors don't really change unless the view changes for example the third floor looks into the dam store, the fourth floor looks in the dam store or another building and the fifth floor does but on the fourteenth floor that's when the view opens up and I'll tell you it could be worth thirty, forty or fifty thousand dollars more than the unit one below that looks into the roof top that's the important thing to remember it doesn't go up equally incrementally each floor 2,000 dollars even though that's how you purchased it from the developer. My name is Ian Watt and if you have any questions. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!