05 Apr Are Condo Upgrades Worth It?
If you are contemplating updating your condo, at some point you probably asked yourself if it is worth the time, effort, and investment? Each individual and condominium is different, so to answer this question you will need to know what is the driving force for the upgrade and what areas are you looking to update. After all, completing a condo renovation can help turn your home, into your dream home. And if the driving force is to make your condo more enjoyable for yourself in the long run, make whatever changes satisfy your needs and style. If you are looking at upgrades to increase your condo’s market value, here are a few key areas to focus on for your renovation.
We have spoken with several local real estate agents and they all agree that an updated kitchen is at the top of most new home buyers must-have lists. Investing in updating your kitchen is sure to yield a strong ROI. Your new kitchen design should strike a balance between aesthetics and function. Updated cabinets, new quartz or marble countertops, and stainless-steel appliances will not only help with the resale value of your home but also make it more enjoyable for you.
Upgraded bathrooms are sure to leave an impression on your guests, but will also leave an impression on potential home buyers if you put your condo on the market. Upgrading the builder’s finishes will go a long way, think about replacing the porcelain pedestal with a marble-topped vanity, replacing the standard tile floor with upgraded oversized tiles, and adding new plumbing finishes and lighting.
Hardwood floors are not only gorgeous but can add considerable value to your condo. Hardwood flooring does require a higher upfront investment, but it will pull your entire condominium together and give it the elegant appearance that will set your home apart from others in the building. Choosing hardwood over-laminate in the common areas and carpet for the bedroom has proven to be a worthwhile investment time and time again, as it not only helps sell your condo faster but for a higher price.
Creating additional and more organized storage always goes a long way in a smaller condo environment. Start with the bedroom closets, maximizing space with a custom closet organizer will help you manage your wardrobe but can also help you avoid the unease associated with a messy closet. Custom built-in units in your living room can also provide additional storage space to tuck away knickknacks and your AV equipment. Closet organizers and built-ins will add additional value to your condo, as it shows the home was built keeping the convenience of use and functionality in mind.
No matter if you are looking to upgrade your condo for personal enjoyment, to increase your home’s value or perhaps both, you will be able to achieve your objective by putting together a solid plan on what you will upgrade and how. Just remember, prior to beginning any condo renovation project you should check in with your Homeowners Association for their rules, policies, and limitations that may affect your renovation.