\u201cExtra care needs to be taken with your analysis of a one-bedroom before buying it,\u201d Daniel Sarao, seasoned real estate investor with multiple rentals and Co-Owner of Greater Cleveland\u2019s Sesa Properties<\/a>, says. In an ideal world, you\u2019ve already crunched the numbers and considered resale before buying. \u201cIt comes down to the cold, hard numbers. In an area with high costs and low rents, your cash flow will suffer.\u201d Ultimately, if the apartment isn\u2019t viable as a rental, it can be harder to resell to an investor<\/a>, losing you a main buyer pool for a one-bedroom.<\/p>\n Rental viability, and other key considerations, determine how hard it will be to sell your one-bedroom apartment. Read on to learn how to turn this potential liability into a goldmine with some apartment-specific selling tips.<\/p>\n You don\u2019t have a crystal ball, so how do you know how hard it\u2019ll be to sell your one-bedroom apartment before you list? While every market\u2019s different, your one-bedroom\u2019s sale value will come down to a few key considerations.<\/p>\n In Casalnova\u2019s market, where a high cost of living and limited amount of space makes apartments of all sizes and price ranges fairly easy to sell, selling a one-bedroom is no big deal.<\/p>\n \u201cI have a license in New York and New Jersey, and I can tell you that the market for one-bedrooms is vastly different in each,\u201d Casalnova says. \u201cIt\u2019s fairly easy to sell a one-bedroom, or even a studio apartment, in New York because there\u2019s a high-demand \u2014 there\u2019s just so many units being bought, sold, and rented every day.\u201d<\/p>\n On the other hand, the market may be tighter in suburban areas, where agents often recommend buyers purchase homes<\/a>, and where a limited rental market may impact the desirability of your one-bedroom apartment for a rental investor. And, whereas urban buyers may see a small unit as an attractive, economical option, suburban buyers may see limited size as a dealbreaker.<\/p>\n However, while you can\u2019t change the static conditions of the location you\u2019re in, you can emphasize your apartment\u2019s perks to appeal to the fairly limited pool of buyers in a given suburb, Casalnova explains. \u201cProximity to public transportation, parks, restaurants and shopping tends to appeal to buyers in any location.\u201d<\/p>\n \u201cIn a seller\u2019s market, buyers will scoop your one-bedroom up because of lack of inventory,\u201d Casalnova says. Even if your apartment isn\u2019t modernized or located in a highly desirable area, it\u2019ll still be easier to sell in a competitive market. However, don\u2019t get swept up by overall market trends \u2014 look to housing data in your own micro-market to see where you stand.<\/p>\n \u201cDon\u2019t get emotional and pump the brakes on a one-bedroom\u2019s \u2018amazing\u2019 view or \u2018perfect\u2019 location until you run the numbers,\u201d warns Sarao. Look to the actual, measurable conditions in your rental\u2019s micro-market for information.<\/p>\n To understand market conditions in your area, navigate to your county\u2019s Realtor\u00ae association<\/a> site and navigate to a recent report to view units sold and percent increase or decrease in median sold price. To get a better idea of what types of real estate sold for what prices, work with a real estate agent to run a market analysis<\/a> and price your apartment effectively.<\/p>\n Owned apartments and condos are typically subject to a homeowners association<\/a> (HOA) fee \u2014 money paid monthly or quarterly to a community association to cover the costs of community maintenance.<\/p>\n Not only can an HOA fee make it more difficult to sell<\/a> to first time homeowners, but rental investors may also avoid purchasing your apartment if its HOA fees are exorbitant because they negatively impact their bottom line.<\/p>\n \u201cWhether a one-bedroom is a good investment boils down to how the property\u2019s cash flows,\u201d Sarao explains. He says HOA fees are a common culprit of condo cash flow issues, causing a source of income to become a liability.<\/p>\n Generally speaking, the more communal perks<\/a> your one-bedroom apartment offers \u2014 shared pool, gym, laundry facilities, landscaped courtyard \u2014 the higher the costs associated with your HOA.<\/p>\n Whether you\u2019re aiming to sell to an investor or a homeowner, factor HOA fees in when pricing your apartment. And if your one-bedroom apartment doesn\u2019t <\/i>have HOA fees \u2014 be sure to bring up this strong point in your market listing.<\/p>\n Owned apartments and condos offer a good point of entry for first-time buyers stepping into the wealth building world of homeownership. This impacts you, the seller, because early homeowners may not qualify for a mortgage<\/a> as high as veteran buyers. Some first-time homebuyers may have high debt-to-income ratios due to student loans or other forms of debt, and may not have as much money for a down payment as a second-time homeowner.<\/p>\n It\u2019s also typically harder to qualify<\/a> for a loan for a condo than for a house, as lenders see units in multi-family buildings as riskier investments. This also means interest rates may be higher and a higher down payment may be required from the buyer.<\/p>\n And again, keep in mind that additional monthly HOA fees will also affect the buyer\u2019s ability to qualify for the necessary loan, as the HOA fees will be an additional expense for the buyer on top of their mortgage<\/a>.<\/p>\n Considering each of these financing barriers, how can you ensure you price your one-bedroom apartment so that buyers can afford to bite? An experienced agent<\/a> will have valuable nuanced information about how to price your apartment competitively.<\/p>\n Ready to sell your one-bedroom? Follow these steps to maximize your home\u2019s sale price by appealing to a large audience of potential buyers.<\/p>\n When it comes to a fast sale, 80% of agents<\/a> say staging a home makes all the difference. Staging is especially important for small spaces like one-bedroom apartments, where buyers are looking for a turnkey home<\/a>. An empty apartment can turn buyers off as they struggle to imagine how they\u2019ll furnish the limited space.<\/p>\n Instead of leaving it up to a buyer\u2019s imagination, paint the best picture of your apartment\u2019s livability with expert staging<\/a> tactics for small spaces:<\/p>\n Besides staging your apartment with furniture before photographing it, consider the benefits of leaving it fully furnished for the sale. While an empty one-bedroom can leave prospective buyers wondering how they\u2019ll possibly furnish it practically, spaces curated with small-space approved furnishings \u2014 strategically placed to define clear zones \u2014 will make your apartment seem more livable.<\/p>\n Besides attracting greater interest, there\u2019s this added benefit: you may be able to sell your apartment for up to 30% more than the listing price<\/a> if you agree to sell it fully furnished, according to Forbes.<\/p>\n If your apartment has excellent built-in storage \u2014 walk in closets, spacious cabinets, shelves, etc. \u2014 stage them gorgeously<\/a> to attract buyers who need someplace to put all their stuff.<\/p>\n Empty the clutter from your closets and pare down what you keep in there. At least 20% to 30%<\/a> of your closet should be empty space. Otherwise, even a walk-in closet will feel cramped.<\/p>\n Follow the same steps for your kitchen. Cabinets and counters that are full to the brim will give your buyer a sense of storage scarcity. So pull everything out of the cabinets. Clear off the counters. Do a deep clean<\/a>, and then stage the space with only the essentials to make your kitchen storage seem ample, tidy, and organized.<\/p>\n Words sell<\/a>, and in the MLS, they can help you sell for a lot more.<\/p>\n A top real estate agent will help you highlight the unique benefits your one-bedroom has to offer with a stellar listing description. Here are some key points to hit on:<\/p>\n![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/10\/are-one-bedroom-apartments-hard-to-sell-room-666x381.png\")
<\/a>The difficulty of selling a one-bedroom depends on these factors<\/h2>\n
Location<\/h3>\n
Buyer demand<\/h3>\n
![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/10\/are-one-bedroom-apartments-hard-to-sell-condo-666x381.png\")
<\/a>Homeowners fees<\/h3>\n
Buyer\u2019s financing<\/h3>\n
![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/10\/are-one-bedroom-apartments-hard-to-sell-apartment-666x381.png\")
<\/a>If you\u2019re selling a one-bedroom, follow these tips to pull off a successful sale<\/h2>\n
Strategically stage each room<\/h3>\n
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Sell your one-bedroom furnished<\/h3>\n
Declutter and stage storage spaces<\/h3>\n
![\"A](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2021\/10\/are-one-bedroom-apartments-hard-to-sell-typing-666x381.png\")
<\/a>Charm buyers with the perfect listing description<\/h3>\n
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