22 Aug What Condo Improvements Add the Most Value?
Whether you are planning to sell your condo or just complete some upgrades for your personal convenience and enjoyment, a condo renovation can add lots of value to your property. However, some condo improvements offer a higher return than others, this is why they are at the top of many condo owner’s renovations lists.
If you are planning to upgrade your condo, keep in mind the below condo improvements as they add the most value to your property:
For resale purposes, there aren’t many turnoffs for potential buyers like an outdated and ugly bathroom. For this reason, a bathroom renovation is one of the most valuable condo improvements to consider, especially when looking to increase the value for resale purposes. When a bathroom renovation is completed properly, you are assured to recoup your expenditure whenever you sell your condo. However, you should be cautious with your bathroom renovation. Don’t opt into high end or luxury finishes that could end up skyrocketing the price of your renovation. Choose high-quality and affordable finishes and features that will appeal to a wide range of individuals.
One of the most popular condo renovation projects is a full kitchen remodel. Just like with bathroom renovations, a kitchen remodel will not only improve the aesthetics and functionality of your home, but it will significantly increase the value of your unit.
Most condos inherently have storage issues. So, it shouldn’t come as a surprise that additional storage can make your condo more desirable to most potential buyers. Therefore, additional storage is one of the most valuable condo improvements you should consider.
You can add storage to your condo in many different ways, include custom closet organizers, built in units in the living areas and custom storage solutions.
If you are planning on selling your condo after your upgrades are complete, hardwood flooring can give you a return of about 80 to 100%. Therefore, installing hardwood flooring in your condo can make a big difference in its overall value. Fortunately, upgrading flooring is not usually as expensive as most other condo improvements. If you already have hardwood flooring in your condo, consider whether it is in good condition or not. Perhaps sanding and re-staining can bring back its glorious shine.
When buying a new condo, many buyers often want the most affordable deals. Consequently, they usually avoid houses with outdated or malfunctioning appliances that need replacement. So, if you are looking for ways to add more value to your condo and attract more potential buyers, you should invest in new appliances.
No matter is you are renovating your condo to sell at top dollar, or for your own personal enjoyment and convenience. These improvements will retain added value for your condo, and you will be sure to recoup you expenditures if you choose to sell later on as well.