September 25, 2012
I am always shocked when I go on a listing appointment and a seller rants and raves about how low their Philadelphia condo fees are, and how fabulous and wonderful that is...If all your condo fees are paying for is water, sewer, the 6 light bulbs in the hallway, and master insurance...and you folks are not putting money away for repairs, upgrades, and maintenance...this is killing the resale value of your condominium.
If the front door doesn't close properly, the hallways are dirty, there are warped boards on roof deck,
and peeling paint on the exterior windows, buyers will think your condo is a piece of crap!
You get what you pay for...
Like children, cars, and nice clothes, your Philly condo needs maintenance to retain it's value.
My advice is to get on the board and vote to raise those condo fees to put money into your building
because a buyer's first impression is made before they even walk into your unit.