Considering Condo Renovations? Here’s How to Plan for Success
There are many reasons to consider condo renovations. Maybe you are preparing to sell your unit. Maybe a certain aspect of your condominium doesn’t function the way you need it to. Or maybe you simply want to add your own personal touch to the space you spend the majority of your time in. Whatever the case may be— properly planning condo renovations is the key to ensuring a smooth, seamless remodeling process.
The last thing you want is to hit a major snag after you’ve already started removing drywall or knocking down cabinetry.
By putting together a comprehensive and carefully considered renovation plan, you’ll be able to overcome potential setbacks with ease and achieve a final outcome you’re happy with.
Here’s How to Plan a Successful Condo Renovation
Make a Budget (And Double-Check It)
One of the biggest mistakes tenants make when preparing for condo renovations is underestimating how much their project will cost. A good rule of thumb is to dedicate at least 10% of your budget to a contingency fund you can draw from when unexpected issues arise.
Additionally, you’ll want to determine which aspects of your remodel you can complete yourself and which aspects you’ll need to hire a contractor for. Many condo corporations require renovations to be completed by a licensed and insured contractor. Be sure to review your bylaws and plan your projects accordingly.
Get a Second Opinion
Prices for renovation projects vary significantly from contractor to contractor. When preparing to renovate a condo, it is always wise to request quotes from multiple companies. You’ll also want to compare other factors, such as the contractor’s experience with condo renovations, their online reviews, their Better Business Bureau rating, and whether or not they are licensed and insured.
When In Doubt, Refer Back to Your Bylaws
Alberta condo owners should always be extra cautious when it comes to adhering to condominium bylaws, as a failure to do so can result in a hefty fine and other penalties. This is especially important when considering major structural changes, such as removing walls, replacing windows, building decks, or reconfiguring electrical, HVAC, or plumbing systems.
We recommend clarifying your bylaws and any other applicable policies with your condo board or property management company before putting your condo renovations in motion. It is always more expensive to adjust plans after the fact than it is to be proactive.
Timing is Not to Be Overlooked
Time management is essential for a successful condo renovation. You’ll need to be cognizant of any noise bylaws, while also taking holidays, permit processes, and potential construction delays into account.
Ask any professional contractor and they’ll tell you— timelines are always rough estimates when it comes to residential renovations. It’s best to accept this fact before getting started and to make plans with a margin of flexibility.
Your renovation doesn’t need to be exorbitant to be exceptional. You can get amazing results without breaking the bank— you just have to decide which elements are most important to you.
If you have been dreaming about granite countertops, for example, you can make up for the cost by revamping your existing cabinetry with a fresh coat of paint. Or if you simply can’t sacrifice your custom closet storage solutions, you can cut costs by installing reclaimed wood floors.
Trust us— you won’t believe how much money you can save by simply prioritizing your decor elements and allocating your money to the items you care about most!
Poor planning is the number one reason condo renovations go off the rails. Long before you pick up a hammer or order building supplies, you should be putting a detailed plan in place to bring your vision to life.
When you’ve covered all your bases and gotten the approval of your condo association, you’ll have complete and total peace of mind. And that’s the most important part of any successful condo renovation!
Are you seeking a condo management company to help your community manage responsibilities like paperwork, tenant complaints, and building maintenance? We can provide you with the support you need. Get in touch with our team today!