How Much More Should I Pay For a Higher Floor in a Condo Building?

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In this tutorial video, we'll go over the tricky topic of how much more a home buyer should pay for a higher floor in a condo building, i.e. for an identical floorplan condo unit on a higher floor, what should the premium be for each additional higher floor?

As we often say, pricing in real estate is more of an art than a science. There are no exact methodologies. However, we will discuss what developers often use when pricing new condo buildings as a benchmark, and we'll talk about how sometimes there's a dramatic difference between one floor to the next vs gradual changes.

That can happen if say the 10th floor just clears a neighboring building, whereas the 9th floor looks into the neighboring building. In situations like this, the difference of 1 floor can make a dramatic difference in valuation.

However, when the view changes are not that dramatically different per floor, perhaps it'd make more sense to see what the developer originally did in terms of pricing per floor. For example, developers often will price the same lines $5,000 or $10,000 more per additional floor higher.

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Hauseit Group LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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