5 Upgrades That Add Value To Your Condo! – Shawn Gandhi

Mississauga condo

Hardwood or Laminate Floors Throughout

Although often overlooked, the flooring in a unit leaves a long and lasting impression on a prospective buyer or renter. Most builders offer hardwood or laminate as a standard feature for the living areas but provide carpet in all bedrooms. Real estate professionals recommend the original buyer upgrade the carpet to hardwood floors straight from the builder.

Condos with hardwood floors throughout not only make the space look bigger, but they also add value in a buyers mind. They are seen as easy to clean and more sanitary. Most renters prefer/request to have carpets professionally steam cleaned before the commencement of their lease term. Changing or upgrading to hardwood/laminate floor becomes difficult for owners to install after the builder completes the unit. The original buyer is strongly advised to upgrade the floor straight from the builder.

 Granite or Quartz Countertops

Laminate countertops are a thing of the past. The mediocre look, lack of durability and practicality, are amongst many reasons buyers prefer granite and quartz countertops. These countertops offer many qualities including a chic and modern look, easy upkeep/maintenance, and long-term durability. Paired with a complimentary backsplash, the countertop has the ability to define the kitchen and appeal to all sorts of buyers and renters. For these reason’s, upgrading the kitchen countertop is a must.

 Extra Storage Space

As the condo market evolves and picks up steam in the marketplace, builders and developers aremaking spaces tighter and tighter. For this reason, all potential buyers are looking for extra storage space for their items. Lockers (which is commonly on a separate floor from the unit) are offered at time of purchase and are almost always recommended to buy. Along with a locker, the buyer or renter is always looking to maximize their space and have items neatly stowed. Here are some examples of extra storage spaces:

  1. Extra closet compartments and shelves
  2. Additional kitchen cabinets/pantry
  3. Nooks providing extra storage

Lighting

Lighting chosen by builders is notoriously bland and lamps provide limitations in what they offer. For this reason, buyers are encouraged to install their own light fixtures to make the space appear bright and welcoming. Fixtures like pot lights and chandeliers compliment the space and provide ample light to all dim areas. Pendant lighting over a kitchen countertop provides a modern look and much style to the room. A dim area is seen as dark and gloomy. Owners are encouraged to install complimentary lighting to appeal to all buyers.

 Floor Level and View 

Floor and view is always an upgrade through the builder. They charge a premium based on floor level (higher floors are more expensive) and on view (better view means higher price). These two factors always effect the immediate value of a unit. Penthouses are viewed as the most expensive and desirable units. In Mississauga, Toronto facing units with an un-obstructed view are also the most expensive. A buyer can only upgrade these two factors at time of purchase, so it is strongly recommended for buyers to upgrade at that time.

 

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