Many of my friends asked me why all the condos I bought are on low floors. Lowest was first floor and highest was just tenth floor. I also own or have owned 3rd floor, 5th floor and 7th floor properties too. I have also stayed on 12th floor for a few years too. I normally reply that I love low floors and said perhaps I just could not afford higher floors, with a smile. Anyway there are a few reasons why low floor is not necessary worse off than higher floors.
First reason was because I just do not want to pay the premium associated with higher floors. It is true, comparing the views, you should be able to see a so called better view than me. However, you cannot deny that the savings I got from lower floors are enough for a holiday that would net me views you cannot see just by standing on higher floors. Also, honestly and truthfully, how many of you who bought high floors really do wake up early and watch the sun rises? You do? Great, high floors are for you. 😛
Second reason is because I just want to feel safer. Do you know that should any emergency happen, the probability of the occupants from lower floors surviving is higher than higher ones? If I am on the 3rd floor, there is a small probability that I may just twist my ankle if I jump down. Slightly higher, perhaps even break my legs plus I am also very sure that I can carry my wife down 7 floors but I dare not say so if I stay on the 15th floor.
Third reason is because when prices appreciate, it does not only happen to higher floors but also lower ones. Yes, some agents will tell you higher floors are easier to sell but when you go to any condo projects, tell me which are the floors are sold out first? Also, if indeed you want to sell, do not worry, there are a lot more people like me in the market. There’s also my brother too.
Oh yea, final reason which I am unable to confirm. An old uncle said that fire engines only have ladders which can reach up to 8th floor. This is not one of my main reasons but if this is true, then it is a plus point for lower floors. There are a lot of other reasons. You can also put forth a lot of arguments about benefits of staying on higher floors. I will only smile to you because the decision to buy whatever floor ultimately rests with you. Just make sure you like what you decide and not regret after you have decided.
written on 4 March 2014
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It’s usual for builders to charge a floor premium, typically around … condos – is whether or not they should pay more to buy a unit on a … as the floor level increases but to a smaller degree than investors may realize. … The footfall in certain areas is just as loud as a heavy-footed person walking behind you.