12 Oct 5 Renovation Ideas to Boost Condo Selling Price
If you are thinking of selling your condo, the last thing you may want to do is put more money into it. However, by choosing the right condo renovation projects, not only will you make the money back that you spent on the renovation, you will see a return on your investment. As the overall value of your condo will increase at a much greater rate than your initial expenditure.
Below we have compiled the 5 best condo renovations for maximum return.
1. Update Your Kitchen
They say a kitchen is the heart of a home, well when it comes to condo living, the kitchen is not only the heart but also the center of your living space. With this in mind, it’s easy to see why updating your kitchen will yield your largest return. There are so many options to consider when upgrading your kitchen, increasing storage with oversized cabinets, replacing the countertops, and updating the cabinetry hardware will catch the eye of any potential buyer.
2. Bathroom upgrades
Another profitable condo renovation is to upgrade the bathroom. Your goal here should be to have a clean, fresh, and uncluttered ambiance. Updating the lighting, the vanity, sink, and all hardware will rejuvenate any bathroom. If you have the space, adding additional storage will help keep the bathroom tidy and neat.
3. Added Storage
Most condos have limited storage spaces, by increasing the available space to put personal items, your condo will appeal to a larger buying audience and increase the overall value. Finding creative ways to increase storage may seem challenging, but there are some fairly universal options such as a custom closet organizer, or built in entertainment unit with various storage options.
4. Replace the Flooring
Hardwood flooring is still the most appealing to potential home buyers. Hardwood flooring won’t only help attract more offers, but it will also assist in getting in those larger offers. Flooring has the ability to transform the feel of any room, and depending on the shade can help make your condo feel larger, warmer, cozier, and more comfortable.
5. New Appliances
Replacing your appliances may not be considered a renovation but it is definitely an upgrade that pays dividends. When prospective buyers see new appliances, it portrays a sense of pride of ownership and it also helps them visualize their day to day in the condo. Older appliances may take away from the rest of the condo and even distract potential buyers if they are in rough shape or a lower quality.
You may not need to complete any renovations or upgrades to sell your condo, but by doing the right renovations you are sure to get back top dollar for your condo on the open market.