It could be that you own a condo and want to make several upgrades to increase its value. Upgrades are necessary from time to time. However, not all r
It could be that you own a condo and want to make several upgrades to increase its value. Upgrades are necessary from time to time. However, not all remodels, renovations, and upgrades are created equal. If done properly, then it is likely to offer amazing returns. However, some are likely to cost you much. Hence, you need to determine which type of condo renovations for maximum return should be undertaken.
5 condo upgrades to consider
- Hardwood floors: It is often the most overlooked upgrade. It requires very little investment and offers positive returns of around 80% to 100%. Homes with classic hardwood floors also sell much faster. Such floors can be easily dealt with when compared to those pesky carpets, as well as better for allergies. Plank flooring is the current trend. If you have brown parquet, dated-looking hardwood plank flooring, then there is no need to replace it. You can upgrade it simply by refinishing it. Then use dark ebony stain to stain it.
- Bathroom renovation: It is important to renovate the bathroom. Paint the walls, fix cracks emerging on the floor, etc. There is no need to spend a fortune. Industry experts consider going overhaul to be a mistake. If selling your condo, try neutral designs when installing finishes. Your budget will also play a major role in the renovation process.
- Kitchen remodels: Kitchens are undoubtedly the most important place in any home and are major considerations when selling it. Provide a facelift to this room if you are on a budget. Install new fixtures, paint the cabinets, upgrade appliances, replace the sink and faucet, etc. If the budget permits, you can consider carrying out major renovations. However, do not spend much on upgrades. Depending on your condo type, trying to enhance beyond your location is not likely to fetch more returns.
- Added storage: This is a vital aspect and cannot be neglected. You can add a closet, expand it, and remodel an awkward looking space. These ideas when carefully and properly implemented can help enhance your condo value. It will also impress your buyers.
- New appliances: It will be a great idea to replace old, worn-out appliances with modern ones. It should be something matching with the place and meet growing needs. You can consider investing in matching panels.
The above are a few of the condo renovation tips that you can consider to increase its value.