Selling a condo is an entirely different experience from selling a house. The inventory is significantly different between the two. The types of prospective buyers are often different. Whether you are selling a condo or a house, it’s important to gear your sale toward the correct market. If this is your first experience selling either a condo or a house, gather as much information as you can and be sure to always work with an experienced realtor who knows how to market that unique property type.

Condos Bring In A Lot Of First-Time Buyers

Selling a condo is sometimes easier because the pool of buyers is often larger. A lot of first-time homebuyers in South Etobicoke and similar parts of Toronto are looking at condos as an affordable way into the real estate market.

Comparatively, houses have a totally different buyer pool. They are more tailored to middle-class families and those looking for more space, privacy, or control over their premises. In many cases, you may even encounter a buyer trading up from having previously purchased and sold their condo.

Fortunately, both condos and houses attract the eyes of investors, with both types of properties offering excellent resale potential.

Houses Have Space And Condos Have Amenities

Houses are known for their privacy and space, as mentioned earlier. A homeowner in a house can customize everything with no limits, including the exterior and roof.

In a condo, you’re dealing with a lot less space and don’t have those customization options. When marketing an Etobicoke condo for sale, however, you might emphasize the building’s amenities and nearby amenities to help reinforce the attractiveness of the unit.

If you’re fortunate to be selling a house, while you don’t have the amenities of a condo building, you don’t need them. A house is a major get!

A lot of newly built condos are fairly similar not only in layout but the types of fixtures, finishes, and flooring used.

Houses, on the other hand, have builds that span the past 100 years across Toronto, with some real unique characteristics to show. Many are looked at with more fondness and affection, netting higher offers because of it.

Demand Is Different Selling A House Compared To A Condo

Toronto’s real estate market is flooded with condos in seemingly every corner of the city. The demand is high, however, with so many choices, condos are sitting on the market a lot longer today than they were a few years ago.

Houses, by comparison, are always in demand. In a strong market, like Toronto’s, houses often sell quickly and for record prices because they aren’t making any new land. Houses are almost always going to appreciate in value and they do not have condo fees or condo associations attached.

That said, when interest rates are high or other price factors start moving the market away from favoring sellers over buyers, single-family detached homes and semi-detached homes are the first to feel the brunt of demand adjustments.

The key differences between selling a condo and selling a house are important because they factor in to how the building is to be marketed. If you’re looking to sell your South Etobicoke house or condo, contact Adrian + Andrea for more information on how to stage, market, and close quickly and for the best offer available. Call us at (416) 319-6893 or email info@adrianandrea.com for all of your Etobicoke real estate needs.