In early summer, I had a meeting with a condo manager to discuss some building repairs and possible upgrades. Walking into the entrance and lobby area, I noticed that it had impeccable and beautiful decor – for a funeral parlour. I soon found out that I wasn’t alone in this line of thinking, and that the board president felt the same way.
The common areas of a condo can often be overlooked, especially if you have lived there for a long time and there is nothing obviously wrong with it. But that doesn’t mean that there are no advantages to upgrading these areas.
There can be a lot to gain for everyone when it comes to interior renovations and refurbishments.
Here are our Top 8:
1. To increase the pride, comfort, and enjoyment of your home
More than anything, your home is typically where you spend most of your time. It is where you live, raise your family, entertain guests, and more. Because of this, it only stands to reason that you deserve to have a good sense of pride when you step into it. When people take more pride in their home, they will help work to keep it that way.
2. Address a safety issue
This is actually a very common issue especially in underground garages. There are municipal guidelines as well as fire code guidelines that dictate how underground garages must be painted, and there are still many garages that do not adhere to this code. Rather than bold, colour-coded markings for gas pipes, sprinklers, fire exits, you might have bare concrete flooring, poles, and rusted overhead pipes. This is not only a safety concern (as visibility and markings are not present), but it looks bland.
Another could be hazardous materials such as asbestos. Replacing outdated and hazardous materials is important to maintaining the health of residents and the building itself. This could be a great opportunity to have an assessment done and make the change.
3. Improve the value
Now here is where everybody can get on board. Who doesn’t LOVE the idea of having an investment they own increase in value? A lot of your monthly fees typically go toward the ongoing maintenance of the building, so here is a good way to recoup some of it when it comes time to sell.
4. Increase functionality
Ever wish there was more room in common spaces? Maybe your lobby or party room would be better with a wall – or maybe with a wall removed to open up the space for more activities. This could be a great opportunity to work with a designer and find a way to increase valuable space while also creating a more appealing and modern look.
5. Increase efficiency
Over the past years there have been numerous upgrades to efficiency. From new types of windows, HVAC units, to lighting and plumbing, a renovation could be a great time to revisit some of the potentially outdated systems currently in place. Oftentimes, many of these options are projected and designed to pay for themselves over a reasonable amount of time while also reducing monthly expenses and increasing enjoyment at the same time.
6. Style update
Remember the funeral parlour look I was talking about earlier? Well it probably wasn’t always like that. Back in the 90’s that lobby design might have been something that other condos aspired to achieve. These days though, it looks dated and depressing. Luckily, with a healthy reserve fund it’s the perfect project for a design and build.
7. Prepare the home for sale
If you’ve ever had to sell a car or other item, and you want the best price for it there is a good chance you didn’t just throw it up as-is and hope for the best. You need to show it a little TLC – a good polish and cleaning goes a long way in improving someone’s perceived value. This is especially important when it comes to selling a home where people are looking for a place to live and are investing their hard-earned money and time for it. An outdated lobby, corridors with peeling paint or wallcoverings can quickly turn a first impression sour, but is easy to fix with a reliable contractor.
8. You deserve it
If nothing else, you deserve to live in a beautiful home and enjoy where you spend most of your time. A well-maintained, bright, modern home – especially an inviting and clean entrance way and lobby may help in keeping you mentally on track. Plus it’s nice to see when your fees are put to good use for everyone in the building.
Next Steps
Condo renovations can mean a lot of different things to different people. For some, it is an opportunity to bring a new and modern feel to areas that everyone has to see. For others, it is about property value and investments.
If you think your condo building or townhome complex is due for a facelift or want to get some more information, simply fill out the form below and we will be in touch within 24 hours.
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