Condo upgrades are vital mainly when looking to secure a high selling point for your unit because they boost your unit’s value. However, all upgrades aren’t the same. While some add significant value, others don’t bring as much ROI. If you want to sell your condominium and gain the best possible return on investment, opting for the right improvements is important. Outlined below are the top four upgrades to add value to your condo.
1. Modernize your kitchen
The kitchen is the heart of every home because people cook and dine there, entertain, socialize, and more. As such, most homebuyers tend to pay extra attention to this space. Modernizing the kitchen is one of the best ways to boost your condo’s aesthetic appeal and add value. Some of the features potential buyers want in their kitchens include:
Open floor plans: Since modern living calls for functional spaces that promote social interactions, an open floor plan can make your kitchen feel bigger by getting rid of the walls that separate it from living or dining areas. Eliminating barriers boosts movement and airflow, making the ambiance more inviting
Quality cabinetry and countertops: Custom cabinets meant to maximize storage while accommodating modern appliances can improve your kitchen’s functionality. For the countertops, opt for durable materials with a timeless appeal, such as granite and marble.
Adding advanced appliances can also modernize your kitchen. Visit this website for more ideas, expert advice, and assistance on how to modernize your kitchen.
2. Consider a fresh paint job
Adding a new coat of paint to your condo is the most convenient and affordable option for boosting your unit’s resale value. Painting the exterior elevates your condo’s curb appeal, increasing demand and worth. Painting the interiors helps cover blemishes while ensuring clean walls that enhance your space’s overall look. It can also drive attention to unique features like plate rails and molding. Note that choosing the wrong color can negatively impact your condo’s selling price. As such, it’s advisable to opt for neutral colors as they will likely appeal to more people.
3. Renovate your bathroom
Statistics suggest that a midrange bathroom renovation has an average ROI of 58.9%, while an upscale one brings a 53.5% ROI. Nevertheless, your bathroom’s return on investment may vary based on several factors, including:
- Its current layout and condition
- The quality of finishes and materials you pick for the renovation
- Your locality’s current market (real estate) conditions
To raise your condo’s value via bathroom renovation, consider:
- Replacing the bathtub: Installing a spa-like bathtub can help make the bathroom more luxurious
- Adding wall and floor tiles: Change your bathroom tile to boost style. Opt for heat/ water resistant materials and add textured tiles to prevent the risk of falls and slips
- Installing double vanities: These come in handy when several people share a bathroom as they help them get ready faster
4. Add smart home features
Smart home technology offers multiple security and convenience rewards. While the upfront costs associated with home automation are high, smart devices that conserve energy and enhance security increase your condo’s worth. To make your unit irresistible to prospective buyers, consider adding:
- Smart thermostats
- Smart lighting
- Smart blinds
- Smart home security systems
- Smart garage door openers and more
Endnote
Increasing your condominium’s value helps you get a high ROI. Familiarize yourself with the top upgrades to add value to your condo.
