This month I’ve been thinking about washers and dryers.
What are they worth in a property?
What is the discount if they aren’t allowed?
This is such a NYC video.
Almost everyone outside of New York City has laundry in their homes, but here, having a washer/dryer inside your apartment is subject to building rules- and often not permitted, or only permitted in a specific location.
having a washer/ dryer in an apartment has become more and more important to buyers.
It’s no longer a luxury item, but a necessity as prices climb.
Think about it.
You’re spending $3-4mm on a home and you’re NOT ALLOWED to have a washer/dryer in your apartment?
Perhaps you’re not allowed to have a VENTING dryer in your apartment.
The time to do laundry, not to mention the cost of each load (since all non-venting dryers are electric)- everything goes up.
If prices are in this range, buyers will continue to push back.
And, let’s hope, co-op boards will follow suit.
Surely, with proper precaution, washers can be made not to flood.
You never hear about issues with them and how they affect the strain on old pipes in a building.
This really is an antiquated thought process.
Washers and dryers should be allowed.
Surely, with precautionary measures.
not having a washer/dryer can negatively affect the value of an apartment.
In the context of a competitive market for scarce buyers, can a building afford not to allow them to be installed?
It may mean a difference in a larger apartment’s value of perhaps hundreds of thousands of dollars?