4 Condo Features That Boost Resale Value

Condos can be quite the sought-after piece of real estate for someone. It could be an investor that may turn around and rent it out to prospective tenants. Or it could be someone who wants to buy it outright as a long-term home. Either way, someone may find some kind of value to the point where they want to buy it the minute they set foot into it.

The following four features that can help with revalue may be worth noting. This will apply to sellers and even prospective condo buyers, whether the intent is to rent it out or live in it themselves. Let’s jump right in and give you the critical details.

Insurance Protection

The old saying of “better safe than sorry” still applies today when it comes to property ownership. As such, having the right kind of insurance to cover your condo will be critical for revalue. Finding a condo insurance policy that will best be fit for your needs and finances has its challenges – so be sure to look for the best protection possible.

Find one that will cover personal belongings, unforeseen circumstances, and other situations where such insurance can make sense. An insured condo will add value and give peace of mind to those who call the condo their home.

Energy-Efficient Upgrades

Today, the idea of energy efficiency is no longer considered a “fad”. The truth is that more people are seeing that the idea of saving money on energy costs is a blessing. Not to mention, it will also be great for someone looking to improve their overall value of the home they live in (even if it is a condo).

Energy efficient appliances will be great for a condo’s value. Even better, a condo with such appliances could be sold faster and at a higher price point compared to others. If you are planning on upgrading your condo with energy efficient appliances and other upgrades, consider the following:

• Energy-efficient windows: Did you know that double-pane windows that are insulated will drive down energy costs by 12 percent? Not a bad reason to install such windows into your condo for that purpose, we think.
• LED lighting: It’s an eco-friendly option and also provides a more modern and efficient aesthetic. After all, they have a pretty decent lifespan compared to traditional lighting.
• An upgraded HVAC system: Heating and cooling systems that provide you with excellent comfort with efficiency are possible. Plus, its reduction in monthly expenses will be easy on the wallet.

The thing to remember is that energy-efficiency will not only make a condo more valuable, but it will also be a money saver. Regardless if it’s a tenant renting the condo or if someone is a long-term resident, the energy efficiency will be a financial blessing.

Smart Home Integration

The digital age has paved the way for so many innovations. Many of them have been used for making homes much “smarter”. Whether it’s security systems or controlling the lights, a condo with smart home settings can be perfect for not just convenience, but also useful for safety purposes. Smart thermostats will play a role in optimizing energy use (and keeping things cost-effective).

Meanwhile, smart lighting and window shades do its part in contributing to a condo’s overall efficiency. Finally, you can get things done using the sound of your own voice. That’s because voice activated assistants like Google Home, Alexa, and others are great for those who want to control the features of their home that won’t always require the use of their hands.

High-Quality Finishes

Aesthetics do play a major role in a condo’s value. It will make sense considering the idea of using high-quality finishes to increase the potential return on investment. Two of the best areas of a condo to focus on when it comes to finishes are your kitchen and bathroom. Here are some ideas that you should consider:

• Stone countertops: These include quartz, granite, or marble. All of these materials are not only timeless, but they also have excellent durability.
• Stainless steel appliances: Stainless steel gives off an aetheric that will look modern. At the same time, the functionality of your kitchen will be enhanced.
• Custom cabinets: Functionality and style will be boosted with custom cabinets. Plus, it will make things more appealing.

Final Thoughts

A condo with a better resale value can be sold faster and at a higher price point than others on the market. These four features that we have listed above should be taken into consideration. It will take time to put all the pieces of the puzzle together, but it will all be worth it in the end.

Be sure to do an assessment of the condo before making the first move. What could use an upgrade? What are some other areas of the condo that need to be prioritized? Once you have a good idea of what to work on, you can get started.

Written by Billy Guteng. September 25, 2024

Billy is a content writer for Kukun. He was born in France, and has lived in multiple cities around the world ever since. He loves art, design and architecture as well as construction and real estate.