I’m a Real Estate Agent: 10 Features Your First Condo Must Have To Boost Value

Many people purchase a condo as their first property as a way to get their foot in the door of homeownership, with the intention of eventually selling and purchasing a larger property.

“When buying a condo, certain features can significantly enhance its resale value,” said Mike Wall, realtor with eXp Realty and real estate investor who’s flipped over 100 properties.

“These features not only make living in a condo more comfortable and convenient,” he said, “but also enhance its appeal to a broad range of potential buyers.”

Here are the features Wall said a condo should have if you want to resell it for a high price.

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Desirable Location

“Proximity to amenities such as public transportation, schools, shopping centers and parks can greatly influence a condo’s desirability,” said Wall, who is also co-owner of EZ Sell Homebuyers. “A prime location can lead to higher demand and better resale value.

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Secure Parking

“Having an assigned and secure parking spot is a significant advantage, especially in urban areas where parking can be scarce,” Wall said. “This convenience appeals to many buyers and can be a crucial selling point.”

Modern Appliances and Finishes

“Updated kitchens and bathrooms with modern appliances and high-quality finishes make a condo more attractive,” Wall said. “Buyers are often willing to pay a premium for move-in-ready properties that require minimal renovation.”

Ample Storage Space

“Storage is a common concern for condo dwellers,” Wall said. “Features like built-in closets, storage units and efficient use of space can make a condo more functional and appealing.”

In-Unit Laundry

“An in-unit washer and dryer offer convenience that many buyers consider essential,” Wall said. “This feature can set a condo apart from others in the market that may require residents to use shared laundry facilities.”

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Balcony or Outdoor Space

“Access to a private balcony or terrace provides valuable outdoor living space, which is highly desirable, especially in urban settings,” Wall said. “It offers a place to relax and enjoy fresh air without leaving home.”

Building Amenities

“Amenities such as a fitness center, swimming pool, concierge services and common areas can enhance the living experience and attract buyers,” Wall said. “These amenities add to the condo’s lifestyle appeal and can boost its market value.”

Pet-Friendly Policies

“Many buyers consider their pets part of the family and look for pet-friendly buildings,” Wall said. “Flexible pet policies can increase the pool of potential buyers and make a condo more marketable.”

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Energy Efficiency

“Features like energy-efficient windows, appliances and HVAC systems can lower utility bills and appeal to environmentally conscious buyers,” Wall said. “Energy efficiency is a growing priority in the real estate market.”

Proactive Management

“Well-maintained buildings with responsive management are more appealing to buyers,” Wall said. “A well-run condo association that takes care of common areas and promptly addresses issues can make a significant difference in buyer confidence.”