If you’re in a big city, condo living has several benefits. Condos are often right amid the action, steps away from all the nightlife, dining and transit that makes urban life so much fun.
Plus, they’re a relatively turnkey form of home ownership, since a proactive strata council takes care of several communal responsibilities.
The downside? There are precious few internet resources geared explicitly to condo ownership. The vast majority of home improvement content seems to assume that you’re a suburbanite family living in a split level somewhere near a big box hardware store. And all those resale-boosting tips follow suit.
In this article, let’s speak directly to the condo-owning experience. If you’re looking to make positive upgrades to your condominium and want to boost the resale value, this article lists four ways to achieve your goals.
And when it’s time to sell, hire a Toronto realtor who can help highlight these fantastic improvements for a lucrative condo sale.
The Twin Kings of ROI: Kitchen and Bathroom Upgrades
Houses and condos have their differences, to be sure. But some things are the same. Specifically, the two highest ROI projects – regardless of what kind of home you live in – will always be kitchen and bathroom upgrades.
Home buyers across demographics and types place a premium on modern kitchens and bathrooms.
And it makes sense. Kitchens and bathrooms are your opportunity to show off quality appliances, design flourishes and cabinetry that you just don’t find in bedrooms and living rooms. If you plan to improve your condo with an eye on resale value, these two upgrades are always a solid choice.
Ramping Up the Storage Potential
Condo owners need to get creative about storage. Without a basement, attic or spare rooms to shuffle items, condos need to demonstrate efficient use of a limited space.
Therefore, storage solutions are an excellent condo improvement. You can invest in closet organizers and dividers to make your existing storage appear more voluminous.
Mount tasteful shelves and hanging racks in the kitchen for a functional “farmhouse aesthetic.” Or go the extra mile by renovating your kitchen and bathroom cabinetry (see the point above).
Balcony Upgrades for Condo “Curb Appeal”
Technically, your condo’s “curb appeal” is the front entrance of the building, a feature primarily dependent on collective beautifying efforts and groundskeepers. But you do have control over at least one outdoor space: your balcony.
Condo buyers put a lot of stock in a balcony, since it’s the sole outdoor area. If your patio looks run-down, barebones or dirty, a prospective buyer might shy away from the property. Consider new balcony flooring (pending strata approval).
Give your floors, panels and rails a pressure wash or scrub. And add flourishes like outdoor rattan furniture, string lighting and hanging plants to give it a lush, sanctuary-like feel.
Competing With New Builds: Refreshed, Eco-Friendly Appliances
If you sell your condo, you will be competing with new builds that feature up-to-date appliances and eco-friendly features. To boost the resale value, consider investing in low-flow water appliances and modern amenities like a new fridge, stove, washer/dryer or dishwasher.
These appliances won’t just pay their ROI when you sell; you’ll enjoy lower utility costs while you’re living in the condo, too.
If you’re a city-slicker with a home improvement itch, these are four great ways to elevate your home and increase the resale value.
