A penthouse for a million bux getting first dibs on parking?
Well, maybe that million bux has already built-in the cost of paying for first dibs on parking, so in that sense I might agree.
OTOH, I don't think someone paying $300000 for a 10th floor 1-bedroom condo should necessarily get priority over someone paying $220000 for an 8th floor studio. It's not uncommon for both of these types of places to not want parking at all, so they shouldn't have to have "dibs on parking" built into the price.
I disagree. Now, I don't think you can get a TONNE more if your parking spot is near the elevators, but it would definitely be a bonus/added incentive.
My parking spot is phenomenal - right near the elevators and nearly double width (I can fit two cars in it if visitor parking is full). There are a few like this in the lot and I'd like to think they'd be a bonus worth touting should I ever decide to sell.
Yup. Even if a spot was only 50% larger, some would definitely pay way more for it. For example, you could park both a motorcycle and a car in the same spot.
BTW, when I sold my condo townhouse, it was for the highest price ever for the complex for that specific type of unit. (Most of the 2-bedroom townhouses were identical, or else mirror images.) My place sold for almost 6% more than the 2nd highest (a couple of months prior).
The main advantages I had were:
1) Engineered hardwood floors in the living room. Some had carpet.
2) Attached parking, directly accessible from the inside of the unit. I had a separate door which led right to my parking spot, which was 1/2 of a 2-car garage. Several of my neighbours had the same 1/2 of a 2-car garage, but had to go outside their unit to access it.
The two main disadvantages I had were:
1) Significant shading by the adjacent mid-rise condo building. Many of my neighbours had full sun most of the time.
2) Approx. 0.6% higher 5-year fixed interest rates, which started about 3 months prior, so many newer buyers coming onto the market couldn't get the much lower rates.
3) Cheap carpet upstairs, and cheap finishes and appliances in the kitchen. I had a gas stove, but it was a low end one.
I might have just been lucky, but I suspect the much better parking helped a bunch.