First Home Facts

3 Tips For Selling Your Luxury Beachfront Condo

If you have a luxury beachfront condo you no longer get enough use out of, it makes sense to sell your condo. To sell a luxury beachfront condo, you will need to make sure you take specific steps.

Tip #1: Know How Your Unit Compares to Others in Your Building

First, you will need to know how your condo compares to the other units in your building. All of the other units in your building will have access to the same community features and amenities, so this is all about how the layout, structure, materials, and views from your unit are different from others in the building.

For example, if only some of the units have a balcony and you have such a unit, your unit may cost more than a similar unit with the same square footage. Or if you have a view of the ocean, and other similarly sized units don't have an ocean view, your unit would be more valuable.  

When pricing a condo, it is important to use the other units in the building to figure out the value of your unit.

Tip #2: Consider the Local Supply of Condos

Second, you need to look beyond your building when setting the price for the condo. You need to consider what the overall inventory is of condos in your area.

If there is a lot of inventory, you may need to go with a lower price to get a quick sale. If there are not many condos for sale in your area and there is a scarcity of them, you will be able to get away with a more top-of-the-line pricing strategy.

Tip #3: Make Sure Your Condo Is Move-In Ready

Third, you need to make sure your condo is move-in ready. Most condo buyers are not looking for a fixer-upper. They are looking for something they can just get the key for and move into, with minimum modifications beyond perhaps changing the paint colors.

This is where you may need to do a little work with upgrades before putting your condo on the market. Give all the walls a new coat of paint, such as a nice, soft gray tone. Upgrade to hardwood or laminate floors if you don't already have them, and make sure they have a soundproof underlay. If you already have hardwood or laminate floors, get them professionally deep cleaned. Consider upgrading to granite or quartz countertops.

These little upgrades can make your condo more appealing to the modern buyer.

When it comes to selling your condo, you want to come up with a fair price that considers how your unit compares to others in the same building and the general condo market in your area. Before listing your luxury beachfront condo, you should also take the time to make any necessary upgrades to ensure it is move-in ready and appealing to the modern buyer.