The following article was written by Michael McCann, a local Toronto real estate agent who regularly contributes to Ratehub.ca.
Are you having difficulty selling your condo because the exterior of the building looks like it was built 20 years ago? Well friends, you have the means and the tools to do something about it. Here’s how to increase your condo’s appeal and attract buyers, and it doesn’t involve a floor-by-floor revolution in your building to topple the condo board.
Let’s say you plan on selling your condo in six months. The first thing you should do is start attending your monthly condo board meetings to see what plans they have for upgrades and maintenance in the upcoming year. If the board is considering repairs to the underground garage or replacing balconies, unfortunately, neither of these projects will increase the value of your condo. On the contrary, it can actually work against you. The sound of heavy equipment rattling in the garage in conjunction with the sight of balconies being ripped apart is not exactly the first impression you want potential buyers to have of your building. If you know a major building project will be happening at the same time you plan to sell, consider either delaying or moving up your listing date. Personally, I believe delaying your list date is a better option because it allows time for the building projects to complete. A building with shiny, new balconies is definitely a better selling feature.
During condo board meetings you can make suggestions that will work to your advantage, such as having the hallways freshly painted or getting new landscaping done.
Here are four tips that will help increase the appeal of the exterior of your condo:
- Paint the front door and keep your doorway path looking clean. If you have holiday decorations, it’s best to remove them as soon as the season is over.
- Although, not necessarily in your control, having friendly neighbours can make a small difference. A welcoming smile or two from them to potential buyers is a nice added bonus.
- Don’t limit your discussion to your unit. Show off your building amenities, such as roof-top gardens, swimming pools or city skyline views. Don’t forget your neighbourhood attractions, for example, if you live by the water, you can point out the benefit of Sunday picnics on the beach.
- Clean up the mail area. Throw out the junk mail on the floor and ledges before potential buyers arrive. The litter can inadvertently send a negative message.
The look and feel of your building can influence the value of your property. You have the power to improve more than just the interior of your condo, so why not add a little extra value to your listing?