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Two condos in my building sold for much higher than I purchased mine for last year. Does that mean the value of my condos go up as well?
I purchased two rental condos for $30,000 each last year in August. Recently two other condos in the same building with the same layout and worse condition than my condos, sold for $50,000 each. Is it unusually for the value to go up $20,000 so quickly?
6 Answers
- babyboomer1001Lv 75 years ago
They are not all the same price just because they are in the same building. The view, number of bedrooms, square footage, which floor it is on - ground, penthouse, middle and the particular condo are always different. No two are identical. However, if one is "similar" to yours, you can figure on getting a similar amount if you were to sell it.
Source(s): Certified Paralegal, with 25+ years' experience & with Real Estate law experience. - coraannLv 75 years ago
If the other condos that sold, are on higher up floors, then it is understandable
that they would sell for more.
- shipwreckLv 75 years ago
They may be bigger or better location or more recently remodeled but it is a good sign for you.
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