What Condo Buyers are Looking for

May 24th, 2017

Given the rise in housing prices, many people are opting for the ease and convenience of condo life. With amenities like swimming pools, gyms, and common areas that don’t require maintenance, it’s no wonder people are opting to downsize.

But what exactly are they looking for? For property managers, realtors, and management companies, it’s important to remember what potential buyers are looking for; especially if they happen to be moving into a smaller space for the first time. Here’s what you’ll need to highlight:

1. In saturated markets with countless options like Vancouver or Toronto, buyers are wanting to see a variety of styles from low-rise to high-rise, with or without amenities, and different types of units. Be sure to show as many available units as you can, walk around the entire building, and make sure to highlight the local community culture.

2. Show all options available: buyers might not always tell you exactly why they are looking to move so it’s important to show them a variety of add ons. For example, even if potential buyers do not drive, they might want to rent out a parking space. They might also like to know that lockers are available should they need it in the future.

3. Lastly, be straightforward. Condo buyers want to know exactly what their monthly fees cover so have it ready and clearly displayed so they don’t have to go hunting. And don’t forget, potential buyers will often want to speak with current owners to get a sense of what it’s like to live in the building. Why not take the initiative and introduce prospective buyers to members of your board association or happy tenants?