A condo's price deserves a comparison with similar units, not just the wider housing market. I'll help you keep ownership costs and responsibilities in that decision too.
The latest market report combines McLean condominiums, townhouses, apartments and single-family homes in its townwide figures. The typical sale price for that combined market was $1,557,900. The typical asking price among homes listed for sale was $1,327,495. Those combined prices are not condo-only measurements and do not establish the value of a particular unit.
For your purchase, a relevant unit comparison is more useful than assuming every property type shares the townwide price. I suggest considering interior condition alongside the documents explaining ownership rules, fees and responsibilities. A unit that fits your purchase budget still needs a separate review of recurring charges and obligations.
Compare recent sales of units with similar size, condition and features, noting differences we should discuss together. Request the documents explaining ownership rules, fees and responsibilities, and identify questions before committing to their terms. Ask your lender how the unit's fees and financing requirements affect your payment and money needed at closing.
