How the pricing works

parkingBuildings such as the Glass House, SPIRE and other new developments offered an interesting aspect to home buying…. Which space to buy. While with existing condos you don’t usually have a choice, new developments offer a chance to buy the exact spot that meets your needs and your budget. Developers often price the parking the same way they price the condos, the higher up in the building you are the more expensive the space is priced. Those parking spaces that offer just one turn or two (lower floors) were priced at the highest amounts, often as high as $50K. Parking spaces higher in the building offered cheaper prices, sometimes as low as $15k, but involved making many turns through the building up through the 7th or 8th floors.

How much are all those turns worth… that depends

Often it is best to seek the least expensive parking in the building. Sure, those premium spots are helpful but are they really worth that amount of premium? Maybe not. For example the lower floors may have a shorter trip inside the building, but they often mean waiting for folks to pass by in order to back out. Little details… but sometimes being even a few floors up can mean fewer headaches.

Other things to consider

What about the placement of the parking space? Do you want to be next to a column, in between two other spaces, or in a corner?  Look closely at the parking map (if you are buying of plans) and consider whether you are talking about a 4 point turn every time you pull in our out. Spaces in the middle of a row can be easier to pull in and out of. You will of course master the turns after a bit of practice, but why make it more difficult to begin with.

Is the parking spot next to a wall where the car door squeeze or turn radius is tight? What about the external ventilation and fans… you might just be in the dustiest corner of the garage. Think about all these aspects or talk with your New Era Realty agent before you make that purchase decision. Are you close to the best door for your elevator tower or are you going to be carrying groceries half a block inside the building. What is the most convenient spot for your unit. You spend a great deal of time picking the optimal residence, don’t stop being choosy when it comes to something you may use daily.

And lets talk about inclines. From the drawings, few buyers notice if they are parked on a slant. That can make a small difference when it comes to resting that grocery cart (often included in high rise buildings) to unload your groceries. Do you want to be parked on the flat section… most likely unless the location of the incline spot is that much better.

Picking parking is just one element of your home. All our New Era Realty agents consider everything about your home purchase.  Contact our Downtown Denver experts today and learn what else we can share that may affect your purchase decisions.


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