5 Tips for Selling a Condo on the Oceanfront of the Forgotten Coast of Florida
Selling a condominium can be much easier than selling a home as all of the unexpected hurdles of selling a house can be avoided if you plan strategically. Whether your condo is your home or an investment-type property, when you are finally ready to sell on the Forgotten Coast of Florida, there could be some unique challenges. Selling a condo is a different beast than selling a single-family home, however, it doesn't have to be difficult.
Continue to read to find out the 5 tips for selling your condo on the Forgotten Coast of Florida quickly.
1. Plan on What Time of Year is Best to Sell Your Condominium
A major factor in your condo sale will be when the perfect season is best to do so. In the world of real estate, typically spring is the best season to sell, however, these rules don't always apply depending on the property's location and attractions nearby. If your home is located in a tourist destination, such as the steadily rising popular Forgotten Coast of Florida, the prime selling time for your family may be before vacation season hits. This is especially true for oceanfront condominium properties. Your real estate agent can help you to determine when the best time to list your oceanfront condo property, and when it may impact its sale.
2. Check out the Condo Association Rules
If you are like other condo owners, you most likely pay either monthly or yearly fees to your condo association. These fees usually cover amenities such as general maintenance of the building's exterior and shared spaces. It is always important to disclose these fees to potential buyers–as it is included in a budget. Other possible condo association rules impact the sale of the property. Rules typically outline special assessments–including a charge that condo owners pay for a property renovation if the reserve of association fees runs low.
If your condo is listed on the market when a special assessment payment date is looming, it can become the buyer's responsibility to pay the fee for possession of the property before the due date. Depending on what your state's laws are on disclosure, you might be required to tell potential buyers about the assessment.
3. Consider Doing Small Updates That Add Value to Your Condo
Even if you are working with a small budget, there are plenty of upgrades that can be done to add to the allure of your oceanfront condo. A simple, cost-effective improvement is paint. Rooms that have been painted look more clean and updated, and when you choose paint colors, choose neutral. Another great update to invest in is removing outdated looks, such as popcorn ceilings. Dedicating time to remove outdated looks can add more money to the overall value of your home. It is important to take into consideration that older homes can contain asbestos, and before starting your project, it is important to have tests conducted by professionals.
If you have money set aside in your upgrade budget, upgrading lighting or bathroom fixtures is always a smart move. New lighting can make a room appear larger and brighter, and updated fixtures can pull your bathroom out of the past. If you are interested in updating larger fixtures, consider hiring a professional.
4. Find Out What You Can Get for Your Condo & Price Accordingly
Finding out the right price for your place is essential. Pricing too low won't bring you in a profit. Pricing too high will turn away potential buyers. You can see how much other oceanfront units in your building have sold, and a real estate agent specializing in condo sales can ensure you don't overlook factors that increase the value of your unit. The following might include:
- End units are more desirable because they are quieter than middle units.
- Detached units can bring in a higher price.
Our agents can help you establish the asking price and your bottom line price, helping you to price accordingly.
5. Showcase Your Condo's Best Features
Take a moment and consider all of the selling points of your property. Potential condo buyers tend to be interested in a low-maintenance home, and your marketing materials should highlight the maintenance your association handles on the owner's behalf. Detail the amenities your condo offers, such as the following:
- Hot Tub & Pool
- A Fitness Center
- Co-Working Spaces
- Rooftop Terraces or Patios
- Covered or Garage Parking
Your final listing should highlight the best features of your unit, such as its proximity to the ocean, restaurants, and nightlife; the lifestyle of your condominium, and the view. One of the better features of any condo is the easy living of the space, so keep in mind to highlight the lifestyle versus a single-family home. If you have top-of-the-line appliances, a newly remodeled kitchen, or a new HVAC system, don't forget to show those features as well.
Home sales expert Bill Gassett of Maximum Real Estate Exposure provided helpful guidance on efficient marketing.
"When I market a condo, I always emphasize what sets my unit apart from the competition. This can be done online and offline. The marketing material left at the home will be a full-color brochure with professional photography. It will highlight the items that make it a standout property.
The same thing is done online, and the remarks specifically target what should be emphasized to potential buyers. Sometimes, it is not necessarily the condo itself but the neighborhood or amenities offered in the condo fee."
Can you sell your condo yourself? Find out
Conclusion
When in doubt, enlist the aid of a professional real estate agent with experience in the sale of oceanfront condos. Their specialization can ensure your property makes a lasting impression on prospective buyers, and that you comply with the state disclosure regulations. Between these helpful tips and the guidance of an agent, your condo will sell in no time! Let the professionals at the Coastal Realty Group guide you in finding your dream home in the many wonderful oceanfront communities on the Forgotten Coast of Florida today!
