Condo Remodeling Ideas: 5 Tips to Increase the Value of Your Condo
According to the National Association of Realtors, the housing market rose by a record-breaking 17.2% this March.
That means houses are selling for higher prices than ever before.
If you’re keen to get on the bandwagon of promising property prices by selling your condo, there are a few ways you can upgrade every room to increase the value and desirability of your property.
Check out these condo remodeling ideas that can help you get top dollar.
Condo Remodeling 101
There are two important things you need to consider before you undertake your remodeling project.
Firstly, you should set up a budget and stick to it. Running out of cash in the middle of your grand adventure will leave you with an unfinished condo that’s difficult to sell.
Also, make sure your budget’s in line with how much your improvements can increase the value of your condo. You can check out the annual cost-vs-value report to determine which home improvement projects deliver the highest ROI for guidance.
Secondly, most condo-owners have strict rules they need to comply with when it comes to refurbishments. Certain items, like your balcony, plumbing, electrical, and windows are likely off-limits.
So, submit a proposal to the board of your development and wait for approval before you get started. You’ll also need to comply with certain limitations on when your board will allow contractors in and out.
Some condo boards insist on a deposit against damages caused by contractors beforehand too.
1. Condo Kitchen Remodeling
Whether you’re engaged in condo, house, or apartment remodeling, the kitchen’s always a good place to start. As the heart of the home, your kitchen can make or break a prospective sale.
Some of the best tips for remodeling your kitchen include updating your kitchen cabinets and installing smart storage options, especially in a small kitchen.
Another popular upgrade is new kitchen countertops. Granite’s an expensive option but it does create a luxury feel.
If you can afford granite, you should consider soapstone. It’s more affordable, looks good, and it’s easy to clean. Do you love the farmhouse look? Butcher block’s the way to go.
You should also consider changing your flooring to new tile or wood-look laminate. The latter’s especially effective if you carry it through to an open-plan living and dining area.
Remember, task lighting’s important in any kitchen, and pendant lights create a modern, luxurious feel.
2. Condo Bathroom Remodels
Bathrooms are another hot topic when it comes to home refurbishments. Consider updating your shower to include modern, clear panels. Shower curtains aren’t popular among prospective buyers.
Installing a new countertop on your vanity’s an affordable fix and can affect the entire look of your room.
Another upgrade that creates a big impression is changing your floor and wall tiles, or a new paint job on your walls. Remember, light colors create the impression of more space which is all-important in small condo bathrooms.
The best bathroom storage upgrades include baskets under the sink, ladder shelving, a trolley, or built-in wall units. If you have any awkwardly-shaped nooks in your bathroom, you can convert them into useful spaces with creative shelving.
One of the best low-budget fixes for your bathroom is replacing or repainting your bathroom faucets and knobs. This gives your bath and sinks a fresh, more luxurious look in no time at all.
3. Condo Living Room Remodel
The living room takes up most of the floor space in the average condo, so it’s got a big visual impact.
Make the most of your living room with modern laminate flooring flowing from an open plan kitchen. In colder climate carpet’s a popular option too.
Painting your walls is an easy DIY project that brings big rewards by freshening up any space. You could install a feature wall in a different color, or leave one bare to create the popular exposed brick look.
Updating the baseboards and trim around your room freshens things up too. White’s the best color for a clean, bright look.
If you want to create a rustic farmhouse look, you can opt for darker colors around windows and doors, and install a farmhouse ceiling fan to complete the look.
Neutral colors work best if you’re repainting your condo to sell it. Not everybody likes hot pink, so stick to light colors in shades of white, brown, or grey.
4. Condo Bedroom Remodels
There’s not much you can do to a bedroom to add value apart from the usual flooring and painting options.
One aspect that does stand out in bedrooms is lighting. Dimmer switches help instill a restful ambiance in any room, but it’s particularly important if you want to create a haven of relaxation in your condo bedroom.
String lights and pendant lights give bedrooms an aesthetic boost and a romantic aura.
5. Energy-Saving Upgrades
The whole world’s focused on energy conservation at the moment. So, it makes sense that prospective buyers are looking to invest in properties with these cost-saving features already installed.
If you can fit it into your condo design, solar’s a great investment that results in enormous cost savings.
Other options include ceiling fans to reduce air conditioner use, energy-efficient windows and doors, and low-flush toilets to conserve water.
Make the Most of Your Condo
If you can’t afford extensive renovations, one of the best condo remodeling hacks is to keep your space clean and clutter-free when prospective buyers come around to view it.
It’s also a good idea to remove all your personal effects before a showing, as this helps buyers to envision themselves in the space. These little touches can go a long way toward selling your condo quicker and at the price you want. Renting a self storage unit might just be convenient as it will help store your belongings even in just a short period of time.
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