One of the challenging things about pricing a condo for real estate is that if there are other units for sale in the same building at the same time, you'll need to keep these prices in mind. A unit that is essentially the same as others, even if the former is dynamically staged, is unlikely to command much more money—and if you do price it higher than the other units that are for sale, you may be looking at a long period of inactivity on your listing. There are, however, some instances in which you can price your condo unit higher than others in the building, even if the sizes are similar. Here are three of those times.
You Have An End Unit
Condo end units can command more money when they're up for sale for a few reasons. Some end units are larger than other units on the same floor, but even if this isn't the case, you should be able to price your condo a little higher. That's because end units tend to be quieter. Positioned far away from the elevator and with fewer condo residents and guests walking past your door, an end unit is particularly enticing for someone who wants solitude. Additionally, end units will often include windows on two walls instead of one, which allows more light into the space.
You Have A Better View
In some condo buildings, the units on one side will provide residents with a better view than the units on the other side. For example, if your condo faces the ocean, you can definitely plan on pricing the unit higher than a unit of a similar size on the opposite side of the building if it looks out over a parking lot and toward some other buildings, for example. Those in the market for a condo will pay a premium to enjoy this view, and you'll reap the financial rewards.
You've Made Some Changes
A condo that has been upgraded in some manner can also sell for more money than a condo of the same size that still has the amenities that were present when the resident moved in. While you can't always renovate condos with the same freedom as you can in a traditional single-family home, there are lots of changes that you can make. For example, adding better appliances and including them in the sale, upgrading some of the fixtures in the kitchens and bathrooms, and making other similar changes can allow you to confidently price your condo higher than the others in the building.