Top 4 Upgrades That Increase Value of a Condo
If you are planning to put your condo on the market then there are certain upgrades that increase the value of your condo and help you sell it within the shortest time period. In the following sections we will look at some of the important upgrades that you must undertake before selling it, which provide excellent return on investment.
Top Four Condo Upgrades:
An outdated bathroom can quickly turn off a prospective buyer as well as lower the value of your condo. Well planned bathroom upgrades tend to provide excellent return on investment and increase value of your condo.
However, the renovation work should be kept neutral as installation of finishes that have specific design may not be liked by your prospective buyers. Simple upgrades such as a fresh paint or new countertops, replacement of rusty faucets, drawers, and cabinets can help in boosting value of your condo.
Installation of New Appliances
Most buyers do not like to purchase new appliances when they buy a new condo. They are more inclined towards condos which already have modern appliances installed. If there are old appliances, then your condo may look archaic.
For instance, you can upgrade from existing old appliances and move over to stainless steel ones to provide everything with a modern look and feel as well as increase perceived value. In case you need to spruce up existing appliances on the outside, getting matching panels from the manufacturer would be the right thing to do. Likewise, if there is an air conditioner, but it makes too much noise then replacing it would be the right thing to do.
Experts believe that highest return can be achieved on kitchen upgrades. Buyers consider the kitchen to be the heart of a condo and as such, how well or poor it looks greatly affects perceived value that your condo has.
Renovation that includes installation of new fixtures, updating appliances and countertops, replacement of granite, replacement of sink, addition of new light fixtures, replacement of cabinet door pulls, and similar other upgrades will augment visual appeal of your kitchen and certainly pay off.
Addition of Storage
Availability of adequate storage increases desirability of your condo and helps in increasing its value. Things such as expansion of a closet, addition of a closets at certain places, and remodeling of available space that appears to be awkward are few of the renovation tasks you should carry out at your condo before putting it on the market.
Similarly, you can mount certain number of floating cabinets so that those can be used for keeping books, personal items, etc. Additionally, palates or crates can be used for making shelves and basic racks can be installed in the kitchen to add more space.
From above details it is clear that there are several simple upgrades that help in increasing value of your condo. If you implement above mentioned upgrades, you can be sure that prospective buyer will appreciate those upgrades and chances of selling your condo for the right price will increase.