If you’re thinking about selling your condo in the near future, you’ve probably started thinking about what you can do to increase its value. We’ve already talked about how to increase the value of your home and renovations you should avoid when selling your home, but getting a condo ready to be sold is a little different than a house. A good starting point for determining how best to increase your condo’s value is to compare it with similar condos in the area. You will lose money on your renovations if they are too elaborate, over-the-top or significantly blows the value of the other condos out of the water. Also be sure to run potential renovations by your condo board before getting started.
Read on to find out the top things you can do to increase the value of your condo before you sell it.
Ideally, condo upgrades should be done continuously in order to keep the home in good shape and give you less work to do when you do decide to sell. Repaint walls that show chipped paint or replace that bathroom tile whose chip you’ve been staring at all year. Make sure to keep up with the cleaning and be sure to keep the receipts for all replacements and repairs.
Floors are a major selling point of any home and the return on installing hardwood floors is usually positive. Homes with hardwood floors often sell faster and for more money, and luckily, they’re a pretty inexpensive investment when you get down to it. Hardwood floors look nicer, are easier to clean than carpets and are great for people with allergies. If you already have hardwood floors that look a little dated, you can refinish the floor and stain it with a more modern dark stain.
If you’re going to invest money in something more serious, the kitchen is the place to do it. If you don’t have a big budget, focus on refreshing the space by painting/replacing the cabinets, updating the counter tops, and replacing the faucet and sink with more modern fixtures. If you can afford to, invest in new appliances as this is something that can often make or break a home sale. As you upgrade your kitchen, try to keep it simple and stylish so that prospective buyers can imagine their own dishes and accents in the room.
There never seems to be enough storage space in a condo so if you can find a way to add more to yours, you’ll increase its desirability to prospective buyers (along with making your own life easier!). Consider if you have the space to expand a closet or add a new one where it’s needed. If you have extra space that isn’t being used, like a small alcove or reading nook, you might be able to transform that into extra space. If this isn’t possible, consider adding extra shelving or organization into existing closet spaces. Large, empty closets can appear small to buyers so by adding built-in shelving and areas designated for shoes and other things can make it seem bigger.
Most condos’ lighting isn’t very exciting but if you’re looking to sell, this is an easy way to spruce up your condo and give it more character. Adding the right lighting fixture can be the perfect finishing touch for a room, along with providing it with the perfect amount of light. Be sure to choose your lighting, whether lamps or a ceiling fixture, when you’ve done everything else you need to do to prepare your condo for sale. It needs to compliment the colour scheme and general aesthetic of the room it is going in.What renovations have you done to your condo to increase its resale value? Share your experiences with us in the comments below! Posted by Greg Dewar on