Key Renovations That Will Improve Your Condo's Value
Every seller wants to get the best price for their condo, which is why so many owners invest time and money into renovating their space before listing it. While this is a great move to make to increase the value of your home, it’s important to know that not all renovations will increase your condo value the same way.
So if you’re looking specifically at ways to increase your return on investment for when you go to sell, then you’ve come to the right place. This is our list of both simple and large renovations that will help you get top dollar for your home.
Change the Countertops to Granite
We’re starting off with a simple yet effective project! One of the easiest ways to increase the value of your condo and upgrade the look and feel of your kitchen is changing out the old countertops and replacing them with Granite.
Now many of our clients think that in order to elevate their kitchen they have to completely redesign it. However, with a fresh coat of paint and a change to a more luxurious countertop, you’ll easily be able to see a difference and increase the value.
Upgrade All Appliances
If complete renovations are not your thing, but you’re looking for a way to spend money to make money, then this is an effective way to do it. Perfect for lower budgets or smaller condo units, replacing and updating the appliances in your home work wonders.
While not every appliance may be doable, we recommend focusing on the major products that many home buyers care about. This includes your washer and dryer, stove and oven. If you’re able to take it a little further, we recommend adjusting the cabinet handles and hardware within your kitchen as well to match the appliances, tying everything nicely together.
Focus on the Bathroom and the Kitchen
Everyone knows that if there’s two areas that are going to be worth the renovation investment, it’s your kitchen and bathroom. Now, it’s worth noting that unlike a house, renovating within a condo requires you to stay within what’s approved by your condo’s rules and regulations, as well as what is available to be done in your particular unit (this is why floor plans come in handy).
With that being said, there is still quite a lot that can be upgraded such as; changing out the hardware, upgrading the floor or tiles, updating the countertops, changing the light fixtures, adding a backsplash, etc. For a renovation in this regard, it’s best to first look at your condo’s rules and regulations and then get a copy of your unit’s floor plan. Once that is complete, you can then work with your contractor to see what can and cannot be done and properly plan for your renovation.
Add in Hardwood Flooring
You’d be surprised by the difference that hardwood floor makes! We’ve worked with a lot of clients who wanted to really transform their room. So, we focused on ripping out their carpet or changing over their flooring to hardwood and they’ve been completely “floored” by the difference.
If you want to upgrade your space and make it look modern and elevated, changing your floor over to hardwood, especially if it’s currently carpet, is a great place to start.
Upgrade the Closet Space
This project is a fun one! When going into a condo showing, a lot of condo buyers will look to see how much space is available, especially in the closet. By changing over your closet to upgrade it’s storage space and modernize it, you’ll easily be able to not only increase interest in your home, but receive a great return on your investment.
Condo renovations can definitely be a little tricky, just because of all the additional rules, regulations, and floor plans that need to be reviewed. But, once that’s out of the way, the fun can begin, and by focusing on the right tasks, you can be sure to make a great return.
If you have any questions or aren’t exactly sure where to start, be sure to give us a call! Not only are we experts within the condo renovation field, but we can also help you narrow down your plans to focus on the renovations that will really help sell your home for top dollar!