5 Condo Renovations That Add the Most Value

5 Condo Renovations That Add the Most Value

If you’re thinking of updating your condo to get yourself a better selling price in today’s market, that’s a smart move. But do your research because not all upgrades are created equal; here’s a list of condo renovations that add the most value and will make your unit stand out.

Before getting to the list, a word of warning. If you’re selling – or even if you’re renovating to stay, one of the first things you should look into is whether or not your condo has Kitec plumbing.

Kitec was widely used in condo construction between 1995 and 2010. It was cheaper and easier to install than copper pipes. Unfortunately, we now know it also had a limited lifespan and many homeowners are finding it bursting, causing huge damage.

If you’ve got it, get it replaced, because a buyer will ask and insist that you do anyway. Now, onto our list.

5 Condo Renovations That Add the Most Value

  1. Install Closet Organizers

One of the biggest challenges with condos is the lack of storage. Invest in some attractive closet organizers to maximize your space. A closet or storage area with the right storage elements will also look larger than a half-empty closet.

  1. Floors

Floors play a huge role in the overall feeling of a room. Hardwood is still king when it comes to flooring, but some really nice tile work can also be stunning. If you already have hardwood flooring, take a close look for wear and fading. Consider refinishing and adding new sealant.

  1. New Appliances

When you’re selling a condo you are competing against a lot of newly-built units with brand new appliances. And old appliances can drag down the look of an otherwise beautifully decorated room. Invest in new appliances to give your place a sleek, modern look.

  1. Bathroom Upgrades

Bathrooms in condos are typically smaller and it’s important to make the most of the space given. They are a close second to kitchens in terms of condo renovations that add the most value. Changes don’t have to be huge. Look at updating the paint and lighting, new countertops, cabinets, tiles, showers, toilets, and fixtures can all add that wow factor that will increase your sale price.

  1. Kitchens Reign Supreme

The kitchen is still the most important room in any condo and the renovation that will add the most value. This is the room that will sell (or not sell) your unit. If you can, this is where should spend your money. We talked about new appliances, but if you have the budget replacing the countertop and cabinets will give you a strong return. If that’s not possible, focus on some simpler upgrades like painting the cabinets, installing new fixtures, and replacing the faucet and sink.

If you focus on some or all of these renovations that add the most value to your condo, you’re sure to appeal to buyers and get the sale price you’re looking for.

If the cost to do these renovations is a concern, talk to us about our Property Concierge program. We’ll perform targeted renovations like these and carry the cost until we sell your condo so you are never out of pocket.

Schedule a free consultation and we’ll show you what we can do for you.

For a larger list of how you can update your home to get the best price when selling, download our free ebook 12 Ways to Sell Your Home for More Money. It’s chock full of fixes, both large and small, that will increase the value of your home in the eye of the buyer and bring your more profit when you sell.