Has Your Condo Become Bigger?

You Bought The Least Expensive Condo? Congratulations…

Why did you choose this particular condo from all others for sale in the building? Some units are on higher floors and, in addition to the ocean views, have the view of the Intracoastal (Halifax River). Some are direct oceanfront and have more value; some larger; some do not have a dark guest bedroom facing the walkway…

- Oh, you bought it because it was the least expensive unit in the building?

Now, you want to sell it. What do you think would be the biggest reason for a buyer to buy your unit and not any of these other units?

- View, Location, Layout

Really?

Your unit won in the competition because it was the lowest price in the building. Now it is not the lowest priced unit.

- it has a good view…

- Yes, it is a nice view but there are units with better view…

 - it is a good size unit…

- Has your condo become bigger since you bought it? There are units with better layouts, and bigger than yours.

- Market has changed. The value is up…

True. The values are up, but without changing your unit dramatically, your good chance to sell it now is to have it as the lowest priced 2-bedroom unit in the building. Still at higher price than what you paid.

If you bought it because of the price only, this would be the most compelling reason for the next buyer. You condo has not become direct oceanfront, has not become bigger, or better. It simply became more expensive because the prices went up.

Being realistic means that you use the same criteria when you sell, as when you bought.

Hey, when you are buying a basement, that's what you will be selling. Not a penthouse.

Follow this link if you are interested in condos in Daytona Beach Area for availability & prices

Photo by Avenue G via Flickr.com