When pricing a condo knowing your upgrades is more important than ever. This is becoming a bigger and bigger factor for the buyer and the seller. Many buyers are asking the sales price as to when you purchased the unit as they should do. It is therefore best to be able to detail the positive changes that you have made while you have owned the unit. Remember you are competing for the sale.
You should be able to detail the items costing more than $500 and the various cost associated with the upgrades. Buyers and many agents do not know the cost of the things they are looking at. Think about appliances, a-c system, cabinets, light fixtures, flooring. recent painting, and so on.
The best thing to do is make a list of the upgrades with some cost attached. I will make a flyer on the upgrades. Know what you are leaving behind. If you need to take something then get it replaced before putting the condo on the market. The buyers need to get an idea of cost as your competitor may not have the upgrades.
You also want to think about the upgrades of the Condo association as you paid for them through an assessment or from the general fund. Did you get a new roof lately? Has the complex just been recently painted?
There may be some upgrades that should be done before putting the unit on the market. We need to review the price and competition to see what things people expect to be done. Many, Many buyers in segment just want to move in and not have anything to do. I will or have had several blog on upgrades that should be done!
If you are a buyer you will need to ask all these questions if the listing agent has not had the fore site to figure this concept out.
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