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Parking spot or no parking spot?

Author: Staff
Publication date:
August 24, 2022
Article Summary: 

When looking for a condo, deciding whether a parking spot is necessary is important. While parking is usually included in the price of resale units, pre-construction condos typically require an extra cost that can run from $10K to $150K. Although having a parking spot can boost property value by 5-10%, it also comes with its own maintenance fee and can increase overall costs. On the other hand, not having a parking spot may limit the pool of buyers and decrease the property value. Ultimately, the decision depends on lifestyle, needs, and financial goals.


Condo, parking spot, resale units, pre-construction condos, property value, maintenance fee, costs, pool of buyers, lifestyle, needs, financial goals.

Source Citation: Staff
Parking spot or no parking spot?
August 24, 2022
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