All properties (regardless of location) are rated based on the following general criteria as defined by NewCondoInvestor.com:

Neighborhood Amenities

The types of businesses that provide services to an upscale clientele.  Includes the variety of needs met (dry cleaners, coffee shops, convenience/food/groceries, banking, business/mail services, restaurants, clothing stores, etc.) and the exclusiveness of the shops and restaurants nearby (for example, a Morton’s Steakhouse in the area would garner a higher rating than Sizzler which would be higher than McDonald’s).

5 – Most types of shops and services available within a few blocks.  High-end boutiques, antique shops, multiple 4 or 5 star restaurants, etc. are literally steps away from the front door.

4 – Some shops and services available within 1 mile. May be lacking in 1 or 2 categories (e.g., a bank but no coffee shop).  However, some top rated establishments close by.

3 – A few shops or services available to meet some needs.  One or two top rated establishments close by.

2 – At least one or two shops providing basic services. No or only one highly rated establishments nearby or potential developments planned to incorporate new services/shops.

1 – Only one or no basic services nearby.  No top shops or service providers nearby nor any definite plans for future development.

Proximity to Attractions

This category rates the types of recreational/leisure and entertainment attractions nearby.  Includes such things as parks, water/beach access, casino’s, movie theaters, museums, etc.

5 – Significant (large) park and/or water/beach access and public facilities, golf courses, world class museums, and theaters or entertainment facilities are within a few blocks.

4 – A park or beach nearby, a golf course, a museum or theater or entertainment venue are within 1 mile.

3 – An outdoor recreation facility of some kind (park, beach, golf course, etc.) is within a mile and possibly an entertainment venue of some kind nearby.

2 – An outdoor facility or an entertainment venue are within a mile.

1 – No recreation or entertainment attractions within a mile.

Variety of Floor Plans

This category rates the quantity of floor plan choices available.  More variety can be better to more closely match a buyers lifestyle and preferences.

5 – 2-3 (or more) different floor plans for each of major sizes (e.g., 2 floor plans for each 1 bedroom, 2 plans for each 2 bedroom plan) plus multiple choice variations in similar categories (e.g., duplex penthouses or poolside townhouse styles, etc.).

4 – 2-3 (or more) different floor plans for each size category but no variations across categories.

3 – 1-2 different floor plans for most size categories.

2 – 1 floor plan for each size category.

1 – Only 1 or 2 categories (e.g., only offers 1 bedrooms and studios in one plan for each).

Surrounding Area Views

This category rates what can be seen from the units.  Although view preferences may vary across buyers, a “good view” is generally acknowledged to be more desirable then “no view” or a view of an undesirable feature.  There are usually variations from one side of the building to another and higher or lower floors, but this rating should take into account the overall average for most units.

5 – Stunning views (sweeping vistas of mountains, oceans, parks, golf courses, city skylines, marina’s, etc.) from majority of units.  Even lower floors have picturesque views of the area.

4 – Stunning views from some units, alternative views are agreeable (e.g., West side units overlook ocean, East side units feature mountain views).

3 – Some good views (on one side of building or upper floors) in some units, less desirable views in other units (opposite side of building or lower floors).

2 – Bland or unremarkable views from most units (generic nearby buildings, undeveloped lots, etc.).

1 – Bland views from some units and undesirable views from other units (industrial buildings, parking lots, blank walls of nearby buildings, etc.).

Pool/Fitness Facilities

A condominium development almost always features a pool area and workout facility.  However, the value this brings can very depending on factors such as size, amenities, location in relation to most units, etc.

5 – Top of the line: the best you could expect.  Multiple pools, lush landscaping, state of the art equipment, great views from pool deck or workout room, on site staffed spa, all facilities available year-round (e.g., an indoor pool in Chicago), and all facilities are steps from elevators/entrances to residences.

4 – Very good facilities.  May not have all the features but does have 1 or 2 pools, attractive landscaping/décor, on site staffed spa, and all are available year round.  Most features are easily accessible from the residences.

3 – Has a pool and fitness room.  Attractive landscaping, may not have a spa or have facilities available all year round.  Some facilities may be inconveniently located for some residences.

2 – Basic pool and fitness room.  Minimal landscaping, no spa, not in a desirable location in relation to residences.

1 – No pool or fitness room.  No other amenities.

On-Site Conveniences

This category differs from “Neighborhood Amenities” in that it rates shops or services available in conjunction with the building itself.  This would include such things as a concierge, business service center (copies, faxes, mail), small shops (coffee, cleaners, deli, etc.), on-site restaurants or entertainment (nightclub, restaurants, theaters), party room for residents, limo/shuttle service, etc.  Note that this factor is weighted different if urban vs. outlying development.

5 – Significant number of amenities on-site.  Almost all daily needs can be met without leaving the property and more (e.g., a full service restaurant or private country club). 

4 – Many amenities on-site.  Most needs can be met using on-site facilities and services, particularly for short visits or limited needs (e.g., convenience store, concierge services). 

3 – Some on-site conveniences are available but some important ones may not be available or require added fees (dry cleaning pick up and delivery available for an extra fee, for example).

2 – Two or three basic services available on-site (e.g., party room, concierge/doorman, business center).

1 – No conveniences on-site.

“Cool” or “Wow” Factor

This includes a name-brand or signature of national prestige (e.g, Arnold Palmer, Donald Trump, MGM Grand) is associated with the development.  The development can represent a prestigious address or area or proximity to upscale developments.  Architecture is noteworthy and memorable (either palatial or striking contemporary), interior public spaces are exceptional.  Residents could likely be celebrities, executives, world travelers, etc.

5 – The property stands out as one of the most memorable condo developments in the world.  The design is distinct and striking—possibly one of the largest developments or tallest buildings in the area.  Created by a renowned architect or designer and developer is famous for impressive properties. High-end materials and finishes. No expense spared in terms of public spaces, exterior décor, etc.

4 – The property is memorable in the region and may be one of the best in town. Has either a famous architect or well-known developer.  Design is distinctive with impressive public areas and mostly high-end materials and finishes.

3 – Luxurious property with upscale materials and finishes or unique design elements.  Stands out from mid-tier developments and is among the better buildings in the area.

2 – Comfortable property.  May have some distinct features.  Materials and finishes of quality expected in new building.  Design is generally similar to other properties in the area and/or non-descript.

1 – Nothing distinctive. Comfortable, but no features to distinguish from other properties from a design perspective. May be aimed at a more middle market tier and/or may do well as a vacation property if the location is desirable.

Note: Ratings for condo cruise ships are based on different criteria. Find ship rating details here.