Many condominium buildings were constructed almost 30 years ago and updating these desirable units usually entails renovations.
A remodel consists of the removal of popcorn ceilings, the addition of pot lighting, new flooring, new kitchen and bathrooms, window coverings as well as new furnishings that fit the space. Once the renovation gets underway, you could be looking at a 3 month timeline and upwards of $100,000.00 depending on condition and size.
Renovations require the approval of the condo board, and work hour timelines must be followed. The benefit of a complete renovation is the increase in realized property value when ready to sell, but most importantly, the remodeling is designed specifically for you.
The renovation of one unit shown in this portfolio, included the addition of a Murphy Bed built into our wall unit, designed for use as an office space, while providing a comfortable guest room, but allowing more floor space for the day to day enjoyment of the owner.
Cost is always a factor in any renovation project. A few tips; floating or click flooring is more cost effective then glue down. Granite is less expensive for kitchen and bathroom counters then Quartz. Sunscreen roller blinds are cost effective and cut over 90% of UV rays, also keeping the temperature of the condo down.
Yes, all renovations take time, but purchasing a condominium in need of renovation can be a great cost effective move.