There are quite a few things to consider when pricing condominiums for sale. Similar to regular single-family homes, there’s the location and neighborhood to think about, size, condition as well as the features of the properties. In a condominium environment though, one has to take into account that the ownership is shared with the rest of the unit owners which makes the setting of prices slightly different from how it is usually done on single-family homes.
How To Increase The Value Of Your Condo
One of the keys to getting the price up is by increasing the overall worth of your condo. If you are thinking of selling your Makati condominium anytime soon, here are a few tricks to help improve its value.
- Communicate with the management regarding shared areas. Putting your unit up on the market isn’t limited to the space you’re living in. The whole complex is part of the package too. So take time to explore the building and see which are in need of improvement. Is the pathway leading to your place clean and presentable? Are the elevators in good working order? What about the exterior appearance – are the hallways well-lighted, is the swimming pool or fitness center well-maintained? Note down everything you have noticed and present it to the board during the meeting. Likewise, ask for their future plans so you’ll know your next step of actions.
- Check the association rules and regulations in terms of upgrades and renovations. Keep in mind that the level of restrictions varies depending on the condo management. Find out up to what extent you are allowed to make changes on your space. Are you limited to doing the basics such as updating the lighting, changing the curtains and getting rid of the smell or are you permitted to do wall repaints and minor installations like setting up new sink and faucet in the kitchen? Identify what are doable on your end and what are not.
- Work on improving your place. Clean and de-clutter. Make simple enhancements that would brighten the atmosphere. If major upgrades are permissible, start with the kitchen, then bathroom and after that, storage.
- Do not overdo. Avoid giving in to the temptation of achieving a very expensive look just so you can set a high home pricing. Surely, you wouldn’t want to spend a lot of cash only to realize later on that it doesn’t give the highest return of Philippine real estate investments, would you?