Whether you're taking on a simple upgrade or an in-depth overhaul, remodeling a condo can be a good investment. As with other remodels, money must be spent wisely, and creating a budget should be the first step. To get the most back for your investment, start with the kitchen and bathroom. When done well and within budget, these rooms regularly recoup the most when it comes time to sell. Consult your master deed to ensure that what the plan to do complies with your condo owners association rules.
Remodeling a condo comes with its own set of challenges and considerations. Before making any decisions, check your homeowner's association regulations for restrictions. Also check condo resale prices in your complex to ensure that your budget will be in line with what you can get for your home when you sell it. If you want even more information, go to open houses in your complex and compare what you want to do with what those units offer.
Upgrading your kitchen is one of the best investments you can make in terms of resale value. If the kitchen in your condo is small, consider improvements that will add to the efficiency of the space and make it look larger. Paint the walls a lighter color. Install lighter-colored cabinets that go to the ceiling instead of the soffit. This will increase your storage space. Improve lighting. Add pendants to an island area if you have one, and install under-cabinet lights. Also consider granite countertops, a feature that many homebuyers want.
A smart and stylish bathroom remodel can have a sizable return on investment and make your unit outshine others in your complex. Consider a new vanity, sinks, faucets, flooring and light fixtures. If you want to avoid the cost of a major remodel, add a fresh coat of paint, and swap out hardware and lighting for more contemporary fixtures. If the vanity has minor damage, repair and paint it.
Details will pull the final look together and provide the polished look that buyers will seek when your condo is on the market. New knobs on cabinets and drawers in stainless steel or colored glass can give your cabinets a stylish touch. Repainting grout around old tiles in the bathroom can freshen the look of the room, as can a new shower curtain and window treatment. Replace the curtains in the smallest rooms of your condo with louvered shutters, which buyers tend to like and help to open up the space. When it comes time to sell, details such as these can help your condo stand out among the dozens of others like yours.
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