Published on : 23 April 20193 min reading time
Sell a property in a condominium
The sale of a condominium should actually be much easier than selling a house, since an apartment is usually worth less than a house. But it’s not so easy in practice. For example, many potential buyers have questions about the entire condominium, because as a seller, you do not only sell an apartment but also common areas.
Often the sale of a house fails because a potential buyer does not want to be part of a concrete community, for example because he disagreed with his previous decisions or because he feared that the community chooses to oppose ideas contrary to his ideas.
Target your potential buyers
Condos are often purchased by people who have been former tenants. For those who are interested, for example, they wish to benefit from a property to spend the rest of their days, especially after retirement. This is why it is important to be able to demonstrate to the customer that as a buyer, it has costs of financing, administration and maintenance, but overall, they are often not superior to the rent paid in the past.
It is therefore advisable to present the client with supporting figures indicating the total cost of his investment so that he can be convinced of the benefits he will derive from it. Retirees are also potential buyers. These people no longer want to live in their homes and are now looking for an apartment that meets their needs at this age (for example, a wheelchair accessible apartment with elevator or downstairs just steps from a shopping center. …).
Expect the right price for your apartment?
It is advisable to inquire about the prices per square meter in the condominiums and to make a comparative study with other condominiums. Many parameters have to be taken into account. In addition to the two most important factors (the location and condition of the apartment), there are other aspects that affect the price of the property, such as:
- The year of construction: properties located in condominiums in the 1950s, 60s and are sold at prices lower than those in newly constructed buildings.
- Upstairs: apartments on the ground floor are often sold 20 or 30% cheaper than those on the upper floors, because many people are afraid of burglaries and do not want to buy apartments where it is cold and low light.
- Access to outside: if an apartment has no garden or balcony, it will probably be cheaper than the one with it.
- The number of rooms: in many cities, for example, apartments of 3, 4 or 5 rooms are currently in high demand, because after the war, many smaller apartments were built, but demand has shifted larger apartments.
In any case, it is advisable to have the value of your property evaluated by an expert before selling it. This expertise tells you about the best price per square meter and the best price of the apartment in general.