Owning a home or piece of property is a great investment if you’re looking to get money back in the long-term. Buying a home ranges greatly in price, and varies based on your location. Everywhere you go, however, chances are that buying a condo or apartment will be cheaper than buying a single-family home. This isn’t necessarily a bad thing! About 17% of Americans live in an apartment or condo, and choose to do so because it is an affordable option and can still make you money as an investment.
Why Buy Now
You might be wondering why you should buy a condo instead of a home, and if it’s better to save up enough money for a home instead. However, it’s important to buy a house or property as soon as you can in order to allow more equity to build up on your property. Equity refers to the value of a home or condo that is built up against the original price. For instance, if you bought a condo at 100,000 dollars five years ago, and now it is worth 250,000 dollars, then your equity in those five years has built up to 150,000 dollars. With this in mind, owning a property as soon as you can possibly afford allows you more time to build up equity, and therefore gain more income.
The Benefits of a Condo
If you cannot afford a huge single-family home, and live by yourself or with a small family, a condo can be the best fit for you. What matters most is not the size of the property you own, but the location in which you purchase it. Buying a condo in a beach-side town, or in the middle of a beautiful downtown district all work in your favor to build up equity. Owning a condo in a desirable location could still be beneficial, so buying early and maintaining your condo is essential to help sell your condo for more than you bought it.
Though you might not like the specific way a condo looks, and if you are wondering can you remodel a condo, the answer is yes. Can you remodel a condo to fit it to your lifestyle? Absolutely. If your condo is in a prime location, you can use these 15 tips to remodel your condo and make it your paradise while also building up value. Make sure to hire the best contractors, get permission from any HOA or city licenses that you might possibly be, and include any personal touches to get the best out of your remodeled condo.
If you’ve ever wondered can you remodel a condo quickly, look no further than to a new paint job! Painting your condo inside is a great way to completely change the look of your place. What’s more, your condo can easily be a reflection of you and can even reflect certain moods. For instance, painting your condo blue can envoke a sense of calm and focus. Pick up your favorite paint from your local hardware store, design some fun and modern painting patterns, and make a day of remodeling your condo.
2. Add Security Systems
If you’re wondering can you remodel a condo to increase security, you can definitely add burglar detection systems to help build up your condo’s safety. Services such as RING can easily be installed into the front doorbell of your condo to catch burglars on camera, and better yet keep you safe from any unwanted people coming up into your residence.
Catching burglars or other criminal acts on camera can make a world of difference. Whether it’s determining the bail bond amount and the extent of the crime and damage done, getting evidence to prove someone is stalking you, or anything else, even a simple security upgrade can give you peace of mind.
3. New Roofing
Condos come in all shapes and sizes, and getting a new roof installation can be beneficial to not just improve the look of your condo or townhome, but also to make your property safer from the elements.
It’s important to always maintain your roof and put extra effort into fixing issues before they get out of hand. Though it can be expensive, contact re-roofing services in order to ensure your roof is windproof, free of leaks, cracks, and has adequate flashing installed in the proper areas.
4. New Plumbing
Plumbing is an issue that comes up often when it comes to condos, especially if they’re older. Can you remodel a condo and touch its plumbing system? The answer is luckily yes! Plumbing solutions you might have to look into are those for corroded pipes, leaking pipes, clogged drains, and backed up sewage. A condos schematic is pretty specific, so it should be easy to determine what you pay for and where the problem lies if you ever run into plumbing issues. Consider getting your plumbing system revamped and ready for years to come.
5. Repair HVAC Systems
An HVAC system is one of the most important parts of any home, and ensures you get great air quality, filtration, and overall are comfortable with the temperature in your home. Can you remodel a condo to make it’s HVAC system of high quality? Absolutely! The condo you own more than likely already has a heating, ventilation, and air conditioning system installed. However, if you want to update it, contact your HOA and go over building policies first. Any upgrades shouldn’t interfere with historic landmarks or details, and installing a new system might also come with downsides like dropped ceiling height. Talk to a professional, and ask can you remodel a condo by updating your HVAC system with them.
6. Remodel Kitchen
Your kitchen is the center of the home, whether it’s a huge mansion or a small condo. If you’re wondering if you can remodel a condo with big appliances, you can certainly upgrade your kitchen with the help of home remodeling services. Updating your kitchen can be anything from getting new counters to getting stainless-steel appliances, or even just updating your decor and making your kitchen more modern. You can even opt to install an island in your kitchen, which can make it all the more aesthetically appealing.
7. Remodel Bathroom
Remodeling a bathroom is a big step towards comfort. In fact, you can also make use of a home heating contractor to help you add additional heating to your bathroom. Heated floors and a central heating system that connects to your bathroom can make it nice and toasty for those cold winter months. As mentioned earlier, any chances to your HVAC system will have to be approved by your condo building, but can easily be done with some adjustments.
8. Remodel Shelving and Storage
Your condo might be small, but that doesn’t mean it has to be cramped and lacking in home storage areas. When you add storage and shelving to your home, you can be sure that it will benefit you in the long run by helping you keep maintain your condo clean. You can always incorporate easy storage areas during home renovation. For instance, you can easily install a reading bench that holds books or other items underneath. In addition, you can also add storage shelves in your kitchen, get sofa seats that have storage underneath, or get storage in your bedroom underneath your bed.
9. Up Your Landscaping
A condo doesn’t have to remind you of the city. You can easily update your landscaping by installing a small, gorgeous garden in your patio, on your balcony, or even in your backyard if you have one. Plants and gardens are beautiful and add resale value to your condo, and can be aesthetically pleasing to future buyers interested in purchasing your condo. It’s important to remember to always water and maintain your plants carefully to prevent it from looking drab and unhealthy, and also to prevent your condo from getting infested with crawling insects as well.
10. Add a Shed
If you have a condo with its own backyard, and love to do projects outdoors, a simple shed can go a long way in helping make you comfortable and enjoy your condo. Aluminum framing is lightweight and can easily be used to construct a cheap, lightweight shed. If you don’t have a garage, you can use this shed to store materials for any projects you might have, work on carpentry projects, paintings, or anything else you might not be able to do indoors of your small condo. If you’re wondering can you remodel a condo by installing a shed, check in with your HOA and address your concerns to them. They might request you take the proper precautions for safety, and also make every attempt to reduce noise that your work may cause.
11. Redo Windows and Doors
Windows and doors can become a thing of beauty if you properly maintain, or even update them inside of your condo. Following your HOA guidelines, you can be sure you can find a window replacement company to help you replace approved windows and doors. Don’t skimp on this renovation either. Without properly sealing windows and doors, your energy bills will eventually rise, leaving you with costly sums every month. Loose windows and faulty doors also pose a security risk, and at worst can be the access point that a burglar uses to get into your home. Don’t risk this, and ensure that your windows and doors are being maintained and updated regularly. Though they can last 20 years, chances are your new condo still needs some work done to its windows and doors.
13. Upgrade Flooring
Home building projects are meant to encourage resale value, attraction to future buyers, and also functionality. If you’re wondering what’s the best flooring to choose for your new condo, hardwood flooring is always the best option. Bamboo floors are ethical, light-colored, tough, and beautiful. Other hardwood flooring is attractive as well, and all hardwood flooring can be easily cleaned and maintained in order to keep its gloss and shine. Homebuyers are always looking to have their lives easier, and there is nothing better or easier than cleaning hardwood floors. In addition, without hardwood floors, you can be stuck with carpeting that stains easily, is outdated, and simply looks drab!
14. Think About Furniture
Can you remodel a condo without it costing too much money? Absolutely! There’s no better way to start a simple condo renovation that with sprucing up your furniture. As-Is sections in furniture galleries always have good deals on marked-down discount items. Huge furniture stores such as IKEA also offer cheap furniture that you and your family can enjoy, and that is trendy, without it breaking the bank. If you feel your furniture is out of date, and don’t think it will fit well inside your new condo, don’t be afraid to go shopping for some new cheap throws, pillows, and even a new coffee table! Whatever furniture you choose, make sure it fits with a simple theme that is cohesive throughout your unit. Take advantage of labor day and other holiday sales, and renovate your apartment simply by rearranging and getting some new furniture.
15. Install New Lighting
If you are allowed to, check in with your HOA guidelines and update lighting. Lighting nowadays is slim, modern, and beautiful and is a great way to update the entire look and feel of your condo. Can you remodel a condo by simply changing the lighting? Of course! Beautiful hanging lights, the installation of a dimmer, or installing lighting that is hooked up to a home-automated system are all great ways to increase the value of your home. Make sure you know the building’s electrical capacity, what work can and can’t be done, and talk to the best electricians that are trained to install lighting in anywhere from new, to older buildings.