The time will come when you, as an owner of the older condo, will face the inevitable dilemma: should I sell or should I stay? Doesn’t matter what you choose in the end, the questions that will follow are always next: “Can you renovate a condo?”, “Should you renovate a condo?” “Is condo renovation worth the trouble?” “What is the cost of condo renovation?”, “How to renovate a condo?”. Especially, when we are talking about old condo renovation in Toronto, where the condo market is always blazing and never slackens.
It seems like many potential buyers would rather buy a condo in the newly constructed building with the fancy amenities, modern feel and look and just ready to move-in. However, the truth is that there are a lot of people whose heart belongs to the older condominiums and the alluring features those can offer. So, it’s a great opportunity either to do condo remodeling for the purpose of living in it for the next couple of years or to differentiate your property from the competition on the market. Either way, older condos come with a larger space that could be easily remodeled while adding the modern and classic flair as well as assuring the coziness of space.
We, as condo renovation contractors in Toronto, recommend going with the option of remodeling an older but spacious and unique condo you own over buying the “birdhouse” meaning a new, box-like, much smaller, copy-pasted condominium. Investing in the feel and look you want and can afford makes perfect sense especially if you are considering staying in your home for five or more years. Let’s talk about the benefits that old condos could offer.
Benefits of Older Renovated Condos
With a fresh coat of paint on the walls, brand new appliances, chic and glitter, a move-in-ready new condo might be very appealing to purchase. However, it is worth taking into account some features that an old renovated condo propounds.
Condo With a Character and Historic Designation
Unique facades, historic fixtures, vintage features, distinct details of the past, the elegance of Victorian Georgian, Romanesque, Edwardian Gothic, Neoclassical, Art Deco architecture and its diverse revival styles containing eclectic elements. Add to these modern updates and the character is guaranteed.
Size and Breathtaking View
If space is on top of your mind, older condos are a much better option as they have more total square footage than the new buildings where the living space is greatly minimized and more room for extra furnishings or storage is something that could be only dreamed about. Speaking of space we should not forget that its abundance also allowed developers to choose the location for their building more carefully and with the prospect of a spectacular view in mind.
Condo Renovation Costs vs. Resale Value
Reselling a remodeled condo can be profitable, however, one thing that you should keep in mind is condo renovation cost. However, all improvements that are brought with the renovation project will increase the value of your condo. Other things that you should pay attention to when renovating a condo are:
- you might not over-improving for the specific condominium as the sale price is strongly tied to other sales in your building;
- potentially, you might identify unknown issues once the renovation is under its way that now has to be fixed with an additional allocation of budget, making it almost impossible to accurately calculate condo remodeling cost beforehand;
- although more durable and quality materials were used in older buildings, from time to time hazardous materials such as asbestos are still found in some old condominiums.
Contact Us for Condo Renovation in Toronto and GTA
Enjoy the peace of mind as our team of professionals guide you through the condo renovation project by guiding you in the right direction, helping you to make informed decisions and making sure that condo renovation work has been done correctly and according to rules and regulations. For over 10 years, we have provided a full spectrum of services, including condo bathroom renovation, condo kitchen remodeling, condo remodeling, preparing all permits and paperwork with condo boards and the city. Our team of condo renovation specialists takes on challenging condo renovation projects and develop unique condo remodeling designs for our clients.
Call us at +1 (647) 871-2239 to discuss your project today or fill out this form.