Welcome Home: All 2-bedrooms are not equal
So, you could buy an Accord, or you could buy an Acura. Some would argue that on many levels, the cars are the same or at least very similar. Everyone knows, however, that the Acura is Honda’s luxury brand, while the Accord is arguably their best selling model; the Acura is more expensive and comes with more bells and whistles, but the Accord is a perfectly acceptable and also a luxurious vehicle. Even with features both cars share, there are often subtle improvements in quality with Acura. Don’t misunderstand, the Accord is a great car but if you focus on details, the Acura really does outshine the Accord. Wait… is this an article about cars…? No, silly… this is an article about real estate! This article is about two-bedroom condos, and the parallel to car-buying is that not all two-bedroom condos are the same. Arguably, the two-bedroom, two-bathroom condo has historically been the most popular configuration built and sold at the ski areas. two-bedrooms rent most frequently, satisfy the needs of most resort guests and therefore, have been the most stable product within the “class,” so to speak. Condos in the same building can and do vary, even though they come with the same finishes. Consumers contemplating a purchase in the current market should buy the BEST condo in the building, not the cheapest. Just like with an Acura, the condo with a view, on an upper floor, on the quiet side of the building, or with an oversized floorplan is the one to buy now. As the market recovers and demand heats up (as we predict will happen over the next 1two-18 months) the “better” condo will gain and maintain a greater resale value, just as an Acura has the better resale value over an Accord. People will argue, “a two-bedroom, is a two-bedroom, is a two-bedroom…” but if and when demand increases, that two-bedroom that you picked up at a rock bottom price, but which is also adjacent to the interstate, on the northwest bottom floor with no sun, or which enjoys lots of clunking pedestrian noise right outside the window will not be the one buyers are asking about. The “less expensive” condo will not rent as well or as often, and its resale value will surely be less.It’s the fourth floor, southwest, corner unit, oversized floor plan, and the least price per square foot, plus a view of the ski slope that you should buy now, and we have one just waiting for you to see! 415 Passage Point at Copper is just such a listing, and is the “BEST” unit in the building. Contact us for more info, and don’t buy a condo that will be hard to sell later… especially not now.Welcome Home is written by Butch Elich & Paula Parker. Search for them by name on Google, Twitter, or Facebook.
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