Metropolitan Development Enterprises is offering free assessments for one year to entice buyers at the eight-story conversion project The Flats on LaSalle. The assessments are valued between $2,400 and $2,900. The 250-unit development has a courtyard garden and rooftop deck. Most of the remaining condos are studio floor plans and are priced from the $100s to the $130s.
A number of developers are offering periods of paid assessments to lure buyers in the slower market. Such a deal is a real, tangible benefit, but if you’ve already factored the cost of monthly assessments into your homebuying budget (please say that you have), why not take advantage of the slightly cooler market and ask the developer to reduce the base price by a few thousand dollars? Not all developers will agree to that, of course. Understandably, mid-project price cuts irk buyers who purchased earlier at a higher price.
But when you can get it, a lower base price means lower mortgage payments, which is even more attractive in the long run than some paid asessments. Yo’s truly would like to hear from buyers who are taking advantage of the slower market and striking deals, particularly price cuts. Click “Comments” and share your experiences.
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