The Resale Value of Your Condo
"Best to Keep that in Mind
When Looking and Buying"
Some things about a condo you can change to make it live and look better. Many things you cannot change and if its a negative it could stay a negative going forward..
Its things like paint and colors that can be changed. A messy place can be cleaned up and made to look great. New Blinds and even appliances can be purchased to make the condo become more valuable. Its things like views, ceiling heights, natural light, windows, common areas that may always be a negative.
It's to overcome of of these issues as the locations get better, but why take the chance when you can get something that will always have value....
Like a Neighborhood
In the condo market there is alway more to consider than just the square footage of the unit. Each association is like a small neighborhood of its and people tend to value them differently. The largest variable is location. It however can change over time, most of the time it has become better as areas tend to expand.
Second Home Buyers
Much of the New Orleans Condo Market is driven by second home buyers and the want locations near things that they enjoy doing. The more walkable the location the better it is. Safety and neighborhood are the other big items to consider. New Orleans is a condo market where 90% of the neighborhoods are great. Most of these areas are high and dry and have never flooded.
Common Areas and Amenties
The amenties and the condition of the Condo association play a major role in future value. Buyers love great views, High Ceilings, Wood Floors, A Taste of History, Natural Light, Courtyards, Pools, Parking and other amenties that a condo neighborhood has to offer.