A common question that I am asked is regarding which renovations will bring the best return when looking to sell an Ottawa condo or loft. Typically my answer can be very specific to the unit, however, there are some general ideas that you should start with.
1. Painting. Without a question, one of the most common things that is suggested to a client is a fresh coat of paint on the walls and trim work. Sometimes there are hairline cracks in the ceiling or scuff marks on the trim, and for the cost, it is the typically the best thing you can do to prep the condo for sale. A nice light grey goes a LONG way!
2. Kitchen. While not usually the cheapest option, more units around the city are starting to have slightly dated cabinets and counters. While replacing the counters is (essentially) an easy task, replacing the cabinets is a serious overhaul and a lot of work. However, depending on the unit and the cost it can make a HUGE difference in the unit. Remeber that a condo doesn't have numerous rooms or places to spend money - so having the main room look its best does a lot for sale price.
2.5 Parts of the kitchen. Even replacing the handles or painting the cabinets will give a fresh and serious change to the space. You don't always need to spend a boatload of cash to get results.
3. Flooring. One of the first things most buyers notice when they walk into a unit is the quality of the flooring and the shape that it is in. Do you have carpet? Has the dog put deep scratches all over? Shoe or furniture imprints throughout the unit? These are a huge turn off for most buyers. Resist the urge to throw down low-cost laminate flooring, as it doesn't last. However every unit and budget is different.
4. Bathroom. Similar to the kitchen, there are not many rooms to spend money in a small condo. However, a new cabinet, mirror, or sometimes even just a shower curtain will go a long way in revamping the feel of the en-suite bathroom and can cost a lot less then in the kitchen. Some "modern" buildings from the 2003-2005 era have a very "interesting" yellow mustard tile - again, a huge turnoff for buyers.
5. Closet System. One of the first things we did in our condo was to remove the current standard "builder" closet and replace it with a closet system. This allowed us to fit two to almost three times the amount in the same space. It completely changed the way we were able to use the space and in a condo, every inch counts. There are numerous options available from DIY at Homedepot or Lowes, to custom built options!
6. CLEAN. Yes, it isn't exactly a renovation, but you would be surprised by the number of people who don't DEEP clean, or even just clean period before putting their unit up on the market. A buyer wants to feel like they can live there and they want to feel that YOU love living there. If you don't take care of the space it subconsciously tells them that you don't like it and that they won't either. Go crazy with the cleaning - it will pay for itself!
While every unit is different, these are typically what I seem to mention when a client is asking what the can do in order to increase the value for selling. Want to chat about your unit specifically or just get more information about selling your condo? I would love to chat and answer any questions that you have.
