4 Things You Need to Know Before Renovating Your Condo
Preparing to sell your condo requires time and work, and when you add renovations into the mix, it’s also a costly part of the process. However, with so many condos on the market in cities like Toronto, you want to be sure your condo compares well to others in the area. This could mean adding a fresh coat of paint or digging deeper and finally removing the carpet and replacing with hardwood or laminate flooring. (Tip: Read Should You Renovate Before You Sell?)
But before you start the process of renovating, make sure you take a look at these 4 important considerations:
1.Rules, Codes & Regulations
Once you have decided to renovate your condo, find out whether your condo corporation has rules about renovating. Most will require work to be done during specific hours (i.e. 9 am – 5 pm), and some of your materials may require approval before being installed. For example, many condo owners installing new flooring will need to make sure there is sufficient underlay to prevent noise from transferring through the floor. In addition, make sure you or your contractor knows about the building codes for your condo before making your plans.
2. Parking & Access
Make sure you check whether you need to book a moving elevator for delivery of materials and waste removal before you or your workers bring anything in. Some condos may require you to book an elevator in advance, and will have restrictions on bringing materials through the main entrance. Parking for workers and delivery trucks can often be an issue in busy urban areas, so make sure that you find out about parking ahead of time. Keep in mind too that you may have to start calling contractors early, because many will refused to work in an urban condo simply because of the lack of parking and access issues.
3. Waste Removal
Since many condos use private waste collection companies for recycling and waste removal, there are often limits on what type of waste can be removed and how much. It’s best to verify with your condo corporation about waste removal for renovation materials.
While your renovations will add at least some value to your condo when you sell, the costs are still a major consideration. Keep in mind that some condos just need a quick fix before selling to add value, especially if your condo is well located, and you are selling during high season. The best way to determine what needs to be fixed up is to do your research on comparable condos in the area. Don’t waste more time and money than you need to get your condo sold – save your money for your next home.
Renovating a condo can be stress-free if you are organized and respect the rules and regulations of the condo corporation. Work with professionals and they will help you get the job done right, and on time.