If you are thinking of selling your Windsor Ontario condo in 2014, keep in mind that this is a process that usually takes more time than a traditional home. Why? It’s a lifestyle that appeals to a limited amount of buyers. There are those that don’t like the lack of privacy or space, turned off by HOA fees, slower appreciation and following the condo rules. However, for others, it’s a great way to live, thanks to the amenities, affordability, maintenance and a “lock up and go” lifestyle.
Selling a condo takes some work, patience and a positive attitude. Keep in mind that most owners only live in their condo for an average of five years, so when you buy, always have re-sale in the back of your mind.
By preparing your condo, and setting it apart from the rest, your chances increase at selling it sooner rather than later. Here are my tips to selling your condo today:
1. Set a good, competitive price:
If you need to sell your condo, don’t mess around with listing your home at a higher than average price tag for your complex. Have your real estate agent look at similar units that are for sale in your area and determine a price that will look appealing to buyers. Don’t over price as it will sit on the market longer and gather a bad reputation with other agents and buyers.
2. Move-in ready:
Buyers will take a second look at your property if it is priced right and move-in ready. Replace worn and dated flooring, update kitchen and bathroom fixtures, paint rooms a neutral colour and get rid of personal items or anything that makes your condo look smaller. Create more storage space by removing half of clothing from closets. In other words, you want your buyer to walk in and immediately feel at home.
3. Create a good marketing campaign:
By working with your agent to create a marketing campaign directed to your target buyer, you have a better chance of getting your property noticed by the right person. Promote the terrific amenities that your condo offers, such as swimming pool, weight room, spa, club house, bike paths, walking trails or anything else that applies. One of the incentives of condo living is to have easy access to activities for a more care-free lifestyle. If you have state-of-the-art amenities, then make sure this information is well advertised online, in brochures, fliers and advertisements.
If you have a condo that is in a highly desirable and sought after area, then make sure this is included in promotional materials as well. These locations include close to employment, highways, entertainment, public transportation, shopping as well as tourist destinations, such as mountains or lakes.
5. Offer incentives:
If you need to sell your condo quickly, don’t only price it right and make it move-in-ready, but also offer incentives that will grab a buyer’s attention. These may include help with closing costs, offering a home warranty or furniture if it was specially designed for your condo. Some condo homeowners offer gift cards to local restaurants or nearby shopping. Think outside of the box when offering incentives.
Staging a condo is NEVER a bad idea, in fact it is highly recommended when setting a condo separate from the competition. Spending the money can be the best investment you can make. Not only will buyers be impressed but it can offer up to 600 percent return on your money. Why? Staging allows a buyer to walk in and feel like they could live there. All of the unnecessary knick knacks and furniture are removed to create an open, neutral space that buyers can immediately identify with.
7. Hire a professional real estate agent:
By hiring a professional real estate agent, you are gathering access to buyers that you will not get if trying to sell on your own. Pick an agent that has a good Internet following and presence and who can offer a creative and reasonable marketing plan that will get buyers to your front door.
Overall, be realistic when selling a condo in today’s market. By preparing your home for the right buyer, being aggressive in pricing and marketing programs, there is an excellent chance you will have a lead on the competition.