What adds the Greatest VALUE to a CONDOMINIUM?

Lets talk value. What adds the greatest value? What adds the least value? and what can take away value from a condo? Why am I asking you ask.... Well recently I submitted an offer to a condo that has been for sale a couple of months. Most condos sell within a month and my listings have seemed to sell in less than a week. 

I had my thoughts why it is still for sale, but my buyer loved it. It is 1 unit away from her friend, so for her, she wanted this location. The price though as you guessed, is high. There is no new upgrades, no new renovations and the kitchen and bathrooms are original. SO the units that have sold for more, had new kitchens, new bathroom and many with new hardwood or laminate flooring. 

So how much does this unit being right next to the community pool add to the unit? $10,000? $20,000? Did anyone say nothing? Did anyone say it could actually make the unit worth less due to bright lights at night and all that noise?

The listing agent said most buyers did not like the location. So why does teh seller think the unit is worth $20,000 more becuase it is next to the pool? My guess is the listing agent did not tell her. SO IN THE END my buyer did not buy it. The seller called and asked why and I told he, it was over priced. That the buyer was willing to over look the location to be close to her friend. But was not paying $20,000 more than the condo is worth. She said her listing expires today with her agent and thanked me for being honest, although she disagrees with my buyers value. 

To answer what adds the most value... That would be a new kitchen, a new bathroom, new flooring and of course location. But a good location can add while a less desirable location may reduce value. 

The lesson and my infamous message is do not hire just anyone to list you home. Do not just hire the biggest company or agent. Take time to hire the BEST agent. The way I do business is to offer some of the best possible personal and professional service. To stand by them through each step of the buying and selling process. Let me show you the right agent CAN make a difference.