Condos in Greater Vancouver have become a hot item in recent years because they are often the most affordable way to break into the real estate market.
Currently condos are selling for about one-third of the cost of a detached house; this means that first time buyers can afford the smaller down payment and more manageable monthly mortgage payments.
But what does it take to attract prospective buyers to your condo? What makes one condo sell fast and another sit on the market?
The TD Canada Trust Condo Poll recently surveyed people who have bought a condo or are planning to purchase a condo in the near future. The response from Vancouver residents polled show that the major deciding factors of whether or not to purchase a condo for sale in Greater Vancouver include:
- Low condo fees
- Good building security
- Attractive interior design
- Energy-efficient building
If you are planning to purchase condo for sale as an investment or want to make sure that your condo will retain its value when it’s time to move I suggest that you pick a condo with these highly sought after qualities.
Another selling feature that is not on this list that should not be forgotten is location. As the saying goes, “Location, Location, Location!” Condos situated near transit and close to amenities add an extra level of convenience and desirability.
There are several other hot-button features in condos that help certain units sell faster or for a higher-then-average asking price than other condo units without. These “wow factor” features in 2011 included:
- Laminate or engineered hardwood kitchen flooring
- Stainless steel, high end kitchen appliances
- Quartz kitchen and bathroom countertops
- Glass door kitchen and bathroom cabinets
Read the entire Wow Factor article published by REW.ca in The Vancouver Courier.
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