Why Convert Your Building to Condos?
The short answer is that it is the quickest and most reliable way to maximize the value of your property, for when you decide to sell.
The “highest and best use”, may be to convert your apartment, office, commercial, industrial property, to condos. Conversion can significantly increase the value of your property. If the difference in value between the building, as is, and as condos is greater than the cost to convert, then you’ve maximized its value and have a greater potential for profit.
The mapping of a property automatically enhances the value of your property. Once the map is in place, the owner can continue to hold the property as a rental until ready to market the property as a turnkey condo conversion project or sell it with the map in place for the new buyer to do the physical aspects of the conversion. Just having been condo mapped can increase the value as much as 25 to 35%
Another option available to complete the physical process of conversion and earn an additional 40% to 60% profit. Experience tells us that condo mapping your property will ensure additional future profits regardless of whether you sell the approved conversion to a dealer, or complete the process yourself and realize the additional profits.
However, it should be noted that, depending upon where the property is, market conditions change and the property may warrant the mapping now in anticipation of future market up-trends.