What makes one condominium fly off the market and another sit stagnant for months? Do condo communities with amenities like sprawling clubhouses, sparkling pools, and concierge service still entice buyers regardless of what the units look like?
As anyone who has ever bought or sold a home knows, the role of amenities in the condo’s curb appeal can be complex. A must-have for one buyer may be meaningless to the next. Nonetheless, a community’s amenitiesultimately play a decisive role in attracting new residents and a survey of realtors and developers reveals a recent sea change in what’s hot and what’s not.
Less is More
When asked what exterior amenities condominium buyers are looking for today, Paul Leys, the co-owner of Gustave White Sotheby's International Realty in Newport, Rhode Island, saysthat five years ago, he would have answered—without hesitation—that a pool, tennis courts, and private gated security were at the top of the list. But these days, he points to something quite different.
“We're selling condos at Ferry Landing in Portsmouth,” he says, “with none of those things—and they're doing really well. Better than a lot of other places.”
According to Leys, the stand-alone condos at Ferry Landing offer two things that people want: high-quality new construction, and homes that come “as close as you can get to single-familyliving” with the convenience of a condominium.