If you are getting a smaller studio apartment ready to sell, there are some specific factors to incorporate when it comes to showing your property. This isn't the time to try to hide the small size of your apartment; embrace it for what it is. Here are four tips to help play up the highlights a studio apartment might have to offer.
1. Play up the 'Artist's Loft' Theme
If you can stage a studio to look inviting for sleep, living, and work, singles and those on a budget will fall in love with the small space. While a space might be small, the size doesn't have to take away from charm and function. Play up the space for those that might be working within their unit, but might not have a lot of money to invest into a property.
2. Feature the Area Instead of the Space
If a studio apartment is located in the downtown area of a city or in an up-and-coming neighborhood, this can be used to sell a space. A potential buyer can get excited about coffee shops, bars, and cultural events that will be at their fingertips. The size of one's living space doesn't have to be the major pull for buying, and the area should be featured in advertising and flyers.
3. Note Amenities Within the Building
Many studio apartments are part of an HOA or feature additional amenities that can make studio living worth it. If the building or community has a pool, serviced washers and dryers, or a mailroom for package drop off, know these features can sell a space. Play up the extra features that one just won't get in a stand-alone home or a building with fewer units.
4. Future Income Property
While many studio apartments require the space be owner-occupied for at least a year, after this point an individual might be able to turn their studio apartment into a rental. Keeping this as an income property in the future might be a reason to buy today. Play up your studio apartment for sale as a 'starter home' so that potential buyers will see this as the first step in their future as real estate owners.
Trying to sell an apartment on the smaller side in your city might seem daunting, but every space has its own unique character that will make this perfect for the right buyer. Some might shy away from a studio apartment and insist on a one bedroom. If you can advertise this right, you might bring in some curious potential buyers who might change their minds once they are sold on a studio apartment's potential.