Apartments in the first and top floors. advantages, disadvantages and prices

Among many factors, which affect the pricing of apartments (residential place,surrounding area, conditions, position, property status etc.), the floor of an apartment has a significant importance. In any building, the middle floors are usually considered as an advantage. That is why the prices of apartments in middle floors are higher than the prices of apartments in the first and top floors. As for the prices of first and top floors in Yerevan and generally in Armenia, they are calculated by comparing the advantages and disadvantages with different ways․ For one buyer, the disadvantage of the first floor is viewed as an advantage, for another buyer, the disadvantage of the top floor is an advantage or vice versa.

Thus, if we try to classify the main advantages and disadvantages of the first and top floors, the picture is as follows:

The disadvantages of first floors

  1. Noise in the apartment from the street and the yard, regardless of the quality of the window.
  2. Security problem: these apartments are more targeted to robbers. Of course, there is a solution to it-iron bars for windows, which, in its turn, brings inconveniences, such as additional costs and psychological stress. After all, nobody likes to look out of the window behind the bars.
  3. Garbage problem, especially in high-rise buildings made from panels.
  4. Continual movement. The flow of people from the entrance can also be viewed as a problem. As a result of this outbreak, not only the noise rises, but often the floors and stairs become polluted.
  5. The heating problems caused by the cellar under the apartment. So compared to other floors, maybe additional costs.

The advantages of first floors

  1. The # 1 advantage of the apartments in the first floor has always been and remains their commercial property, especially for the buildings of the 1st lines of central and crowded streets. 90% of them can turn into office spaces and become an opportunity for the owner to earn extra money, in case of modifying and selling as an office space, and as ք a source of permanent income, in case of giving them for a rent.
  2. For those who have health problems, especially with musculoskeletal system, the first floor is simply irreplaceable.
  3. The first floor may also be preferred for large families, especially when there are children and elderly people in the family: For the first ones, moving the baby carriages is easy, for the elderly, their movement can be quite easy.
  4. Generally there are land plots in front of the first-floor apartments, the right to use them belongs to the owners of these apartments.
  5. Cellar availability (although in some cases it may be considered as a disadvantage, see number 5 above).
  6. The absence of an elevator with its possible inconveniences and dangers.

The disadvantages of top floors

  1. Roof problems, repair costs etc.
  2. Elevator failure problems.
  3. Transportation costs and difficulties of property, building materials, construction waste etc.
  4. Top floor apartments are often colder or hotter compared to the apartments of other floors.

The advantages of top floors

  1. The opportunity to use the roof (it can be used for entertainment purposes, as a storage room or for other economic purposes).
  2. The psychological fact, more specifically, the feeling of being far from the noise of neighbours, the sense of independence and freedom.
  3. Views from the windows and balconies, beautiful panoramas.
  4. High level of security, as well as lack of noise (less movement in the entrance).
  5. And finally, the most important commercial advantage of top floors is the presence of penthouses especially in newly built buildings.

From this point of view, almost the same commercial advantage can be considered as the possibility of using the first floors as an office space.

The prices of apartments on first and top floors in Yerevan

It is clear from the above mentioned article that in the case of first and top floors, there are 5 and 4 main disadvantages, against 6 advantages. But this does not change the picture from the perspective of the supply, because the analyses of both the cadastral alienation transactions and realtors are coming to prove, that the demand for these apartments in Yerevan and in the Republic overall is less and, therefore, the prices are 10-15% more affordable, of course, not counting some specific cases (for example the commercial features). In both cases, however, in case of limited finances, disadvantages become an advantage.

Finally, everything should be viewed in the field of subjective perceptions, from the perspectives of individual, household, financial and status requirements of the buyer.

How to buy a house

Mortgage loan procedure in Armenia, 2019

Armenian velvet revolution and the “Velvet behavior” of Armenia’s real estate market