Tips on Condo Renovation to Improve ROI
With a booming real estate market condos are currently the main investment of choice for real estate investors in Toronto and the GTA. The price of a condo is influenced by many factors like location, prices of similar units in other condos nearby, age of the building, proximity to amenities, etc.
Another sure way to increase the price threshold is to renovate.
Renovation of your Toronto condo can gain you better yield on your ROI when you sell or rent it. It will allowing you to stay on top in the hot real estate market, attracting the right kind of buyers and tenants.
A new Paint Job
The most cost-effective way of increasing the value of your condo is a new paint job. Paint over time cracks, chips or peels, adding a fresh coat not only on walls but on window panes and balcony rails as well. It will maintain the aesthetic look of the condo and give it a breath of fresh air and new life.
Upgrade the Furnishings
Upgrading furnishings is another cost effective way to increase the value of your condo. Adding a touch of drama with new drapery or lighting fixtures to invigorate the space, or installing floating shelves for more practical purposes, can be exactly what the place needs. This simple trick is not only aesthetically pleasing but adds a practical improvement that buyers and renters alike will appreciate.
Consider wall Finishes
A modern trend seen in many Toronto condo renovations projects is cool wall finishes. It’s an extremely effective way to enhance the look and feel but also to give your condo a defined, vibrant personality. While contemporary designs like wallpapers and cloth/paper backed vinyl coverings have been in use for ages, there are many new designs that one may not be familiar with and which are definitely worth exploring. From modern trends like designer mirror finish and contemporary styles like wood wall panels; there are many different designs to choose from.
Many condo owners and even some professional interior designers treat wall art as an afterthought. We, however, know that art is an important component of every home. The right wall art provides a focal point for a room, drawing eye of anyone entering it, bringing a sense of warmth and texture to the whole place making the place seem much more finished. This addition to your Toronto condo renovation project can be that final touch upgrading your dwelling from good looking to stunning.