I would argue there's more important things than a balcony. interior finishes. we build a triplex stacked over and over and no balcony. on our infill single family home we have two rooftop terraces and covered balconies that we are designing now to sell quick. it's more of an amenity to compete and get a quick sale. 

Quote from @V.G Jason: Real estate is inflation adjusted, but I'd argue it's now going to be valued with a scarcity premium going forward.

If anyone wishes to argue these facts I would be more than happy to take the challenge any time. 

There are LOTS of PM's out there like that and I would argue they do a huge disservice to their clients.  

@Tuan NgoI would argue it and say it was not there originally and what is this fee?

Someone actually tried to argue with me lol...This would have removed the death tax part of Prop. 19 but it didn't get enough signatures to get on the Nov. ballot, sadly

They argue that their renovation is top notch, so the price is justified, which may or may not be true, but but generally the high quality of the renovation does not pay sufficient dividends in the form of increased rent, so the price to rent ratio just isn't there.They typically advertise a 9% to 13% cash on cash return, but be careful, this is their "first year projection" and in their first year they do some things that I find a it deceptive, such as not accounting for vacancy because they place a tenant prior to closing, and they budget essentially nothing for repairs or cap ex since it is renovated and they offer a warranty. 

He can do 1 or 2 and argue he got it as an investor and changes his mind or something like that but not if he does it consistently.  

@Patrick Goswitz Not to argue with your chat gpt lawyer and accountant, but I'm actually attending a foreclosure auction next month that took two years to get through the courts.

Not arguing with you.. just setting out some cautions.. take it for what it is.. real estate simply is not a linear line straight up.