One of the things that condo owners enjoy is a maintenance free lifestyle. It doesn't mean you do not have to any work at all. The inside of the home is all yours to take care of.
Just like a single family home, a condo that has not been updated over the years can turn buyers off. It doesn't mean the place has to be perfect, just periodically updated. It does not take that much in most cases to do work on a condo. Simple things like replacing countertops, upgrading to energy efficient appliances to changing vanities can be done inexpensively as well as painting & adding molding . Most buyers looking for a condo do not plan for a full top to bottom renovation.Just like a single family homes, owners should plan work out to do over the years.
I have seen 30 year old condos looks like new due to the work that has been done to them. On the other hand, other 30 year old units look like they haven't been touched since they were constructed. When a property gets to that point, the time and cost can scare buyers away and the units will often take longer to sell than other updated units and if a buyer comes along, the price will often reflect the condition.
Norcom Mortgage NMLS# 71655 Equal Housing Lender - Avon, CT
Sr. Mortgage Loan Officer
Rented a condo when we got married oh so many years ago Jonathan. See him from time to time and understand he still owns the unit. Hope he's done the upgrades you've suggested since then.
Apr 23, 2014 09:16 AM
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