11 Sep 5 Upgrades To Increase Your Condo’s Value
When it comes to increasing the value of your condominium, you do not need a complete condo renovation to increase its market value. Focusing on the key areas such as the kitchen, bathroom and closets will help you yield a great return. However, even completing simple upgrades can yield many benefits, these include increased comfort, convenience, aesthetics and increased property value.
Here are 5 simple upgrades that will increase your condo’s market value:
1. A fresh Coat of Paint
The easiest and most affordable condo upgrade you can undertake is applying a fresh coat of paint. New paint will freshen up the space, and depending on the colour choices can make your space feel larger, more comfortable, and even more relaxing. The toughest choice here is picking out the right colours for the space. If you have a condo that is relatively small, try lighter shades as they reflect light, making the space appear larger.
2. Change the Hardware
Another simple upgrade for your condo is replacing hardware. This small change has the power to update the look and feel of the most important spaces in your condo. This may seem like a minor change that won’t be noticed, but from our experience replacing cabinet handles, doorknobs, and even faucets can increase your condo’s appeal and market value.
3. Kitchen Updates
The kitchen is the heart of any home, but when it comes to a condo, it is the showcase space. Updating your kitchen will immediately increase the value of your home. Consider replacing cabinetry or refacing the ones in place, updating lighting, and adding additional storage space. Replacing old appliances will also help update the space and increase the appeal and value of your property.
4. Bathroom Touch Ups
The bathroom(s) are usually the smallest room in a condo, but they hold a lot of weight when it comes to the value as they can leave a positive or negative image of the entire space. Assuming you have already updated the paint and the cabinet hardware, additional upgrades you can complete is adding additional storage, changing the light fixtures, and replacing the countertop. If you will be putting your condo up for sale in the near future, these upgrades will make the space feel more comfortable and functional to potential buyers.
5. Create Additional Storage Space
Finding space in a condo can be difficult at times. Creating more storage will make your space more comfortable, as it will get your items out of the way. Consider creating custom storage solutions to your closets. This will help increase the usable space in your closets without any major condo renovations. The addition of floor to ceiling built-ins is another way to update the look of your condo and increase storage space at the same time.