What renovations/additions can I do to my (600sqr ft) condo to make the property value rise?

Question

My condo is 629 square feet and my husband and I are doing a total gut rehab next month I want to know what we should to to make the property value rise quite well but with out exorbant cost. In other words "what are the tricks of the trade?"

Answer 1

First thing, go through your governing documents (your Declaration, CC&Rs, Bylaws, Architectural Guidelines, Rules & Regulations, etc.) to determine what you can and cannot do to your unit, and what needs prior approval. You don't want to be forced to remove something you spent a great deal of money on!

It is very common for these documents to prohibit jacuzzi-style tubs, or hard flooring above the first floor, depending on the type of unit you own.

629 square feet is small, so do things that make it look bigger and brighter within those guidelines. For example, if you have a wall between your kitchen and living area, and IF it's allowed in your documents, opening it up can make a world of difference. As always, upgrading counter tops and appliances make a big difference, but refinishing your cabinets instead of replacing them can do the same thing without the expense, depending on their condition.

Answer 2

600 sf is really small. First of all check with your association as to what you are allowed to do with your condo. There could be restrictions as to what you are allowed to do.

You can only do things inside the condo because normally all outside improvements are administered by the association and in most cases must be voted on by the association.

What you want to do is list all the things you want to do, then find out if the things you plan to do will increase the value of your condo.

You can over do the condo and do things that will not add value to the condo. You would just have an over priced condo in that area.

For instance I am sure you would not put Italian floor tile through the condo, then add gold bath handles to the bathroom.

As most have indicated, painting, re carpeting, doing the kitchen and bath should be sufficient.

I hope this has been of some use to you,good luck.

"FIGHT ON"

Answer 3

First you need to do a little research by checking out the neighbors to see what is considered average. The usual tricks of the trade are really simple: paint, clean, decorate. Then there are things like replacing the tub with a whirlpool adding brass outlet plates /light switches, nice blinds, updating appliances, but with only 600 sf you don't have a lot too work with. Your goal should be to make everything look like new, even if it isn't.

Answer 4

Granite counters and hardwood floors are always a must to get maximum money in a resale.

Answer 5

a small space like that would benefit from even the smallest touch up. however rule of thumb, kitchen and baths !!!!!! spend the most there, even if it means leaving everything else alone.