Top Floor Questions

Hi experts ..

I am planning to buy a top floor unit in a 8 level building to live in with a wrap around balcony.
1. Can you think of any disadvantages of a penthouse other than a high strata fee?

Also, at the moment this unit has uninterrupted view of the city (Sydney) on the northern side of the balcony.
That view will be gone in a few years after looking at the council development control plan because they are building a 10 lvl residential building just across the road and not too mention that development is about to happen soon as I can see heavy machineries have arrived at the site.

2. Will this greatly affect the price of this unit? how many % are we looking here?

Thanks guys.
 
Could be they are trying to flog it off now while it still has the views.
Do you research on other units in the area without the view for comparable prices if possible.
 
1. Can you think of any disadvantages of a penthouse other than a high strata fee?
Only disadvantage that comes to mind is if you want to put in a floating timber floor and your walking on it creates noise penetration to the tenants below. (The only people that can do this without fear of creating a problem is ground floor dwellers).

Will (losing a view) greatly affect the price of this unit?
It may affect the price - yes.

how many % are we looking here?
There is no way of telling except comparable sales of similar penthouses to yours that do not have a view.

All the best with it.
 
Hi experts ..

I am planning to buy a top floor unit in a 8 level building to live in with a wrap around balcony.
1. Can you think of any disadvantages of a penthouse other than a high strata fee?

Also, at the moment this unit has uninterrupted view of the city (Sydney) on the northern side of the balcony.
That view will be gone in a few years after looking at the council development control plan because they are building a 10 lvl residential building just across the road and not too mention that development is about to happen soon as I can see heavy machineries have arrived at the site.

2. Will this greatly affect the price of this unit? how many % are we looking here?

Thanks guys.

You really need to do your research here and, as others have said, homework on true comps (minus the view) and factor this into your offer and subsequent negotitations. Perhaps consider hiring a BA or a valuer to do the work for you, if unsure or unable to easily access the data required. This then also gives you more pull when talking price with the agent as you've got something solid to back you up and avoid overpaying in the first place.

Advantages of penthouses are limited neighbours, the sound of lovely rain :D on "your" rooftop, improved privacy and views (if they stay). Disads include the ones mentioned as well as possible increased noise from electrical units on the rooftop, not to mention noise levels from other residents, if the rooftop is common property.

Best of luck
 
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