Much More Than Just "Maintenance'
By JIM RENDON
Published: January 12, 2012 Potential buyers should be concerned about the fee, not only because it is real money paid out of pocket every month, but because it has a direct impact on property value.
“The market rewards low maintenance and punishes high maintenance,” said Roberta Axelrod, the director of residential sales and rentals for the real estate firm Time Equities, who sits on 10 co-op boards. Apartments with low monthly charges tend to sell for more, and those with higher fees for less. That is not to say that buildings are doing away with amenities. In fact, new condo projects tend to be full of perks like exercise rooms, screening rooms, children’s play areas and even indoor pools. Yet all of these things add expense.
Read the full story here: http://www.nytimes.com/2012/01/15/realestate/getting-started-much-more-than-just-maintenance.html?pagewanted=1&_r=1&ref=realestate
No comments:
Post a Comment