As you start the process of purchasing a new condo, it’s helpful to know which styles and features are sure to bring you the most value. For example, certain upgrades to your condo will make your life more comfortable, while others increase the resale value. It’s important to carefully weigh your choices. Find the balance between the things you want or need and the things that will bring you the biggest return on your investment long-term.
First, consider the size of your condo. Some are more compact while others are like a single-family home. While the extra space is nice, you should still focus on purchasing the amount you need. People in the market for condos aren’t always looking for a lot of square footage – they’re looking for the convenience of a low-maintenance lifestyle.
Number of Bedrooms
If you’re a young professional or retired couple, you may feel you only need one bedroom. However, most people prefer homes with at least two – using the extra bedroom as a home office or guest room. Some of StreetSide Developments‘ floor plans even have three bedrooms. This solution works well for people who have children or are thinking about them in the near future. For both daily living and resale value, it’s smart to buy a condo with two or more bedrooms.
Upgrades vs. Affordability
Even the base models of StreetSide’s condos have the sleek, modern look people prefer. However, you’ll be able to choose several different upgrades as you plan your home. For instance, the standard kitchen cabinets offered at Vivace at West 85th have a contemporary, flat-panel look but you can upgrade to the more classic appeal of shaker-style cabinets.
In general, the best upgrades to choose at the time of building are the ones you’ll find in the kitchen and bathroom. Since these are considered the two most important rooms in any home, it’s wise to start with the right choices. Compare prices carefully based on the upgrades you want.
Choosing Extra Amenities
Other elements might increase the value of your condo while making your own life more comfortable at the same time. For instance, many people prefer the condos at the ends of the buildings because you then only share a wall with one neighbour. You might also want to look for condos that have features like outside patios or balconies so you can have barbeques with your friends. Condos with underground parking or their own garages are also always popular.
A condo’s location is often one of its biggest selling points. Look for a development that offers plenty of nearby amenities as well as an easy commute. Evanston is a popular choice because there are a number of shops within walking distance. This will always be a big advantage, whether you plan to live in the condo forever or sell it in a few years.
Your Ultimate Plan
In the end, you really need to think about your plans for the future. If you’re buying a condo as part of your plan to downsize after retirement, you want to focus more on design and function that appeals to you. Those who are purchasing a condo as a starter home need to think about their long-term plans. If you want to eventually sell and use the equity as a down payment on your next home, you want to be sure to get the most bang for your buck. Talk to the Area Manager about which features are likely to help you reach your goals faster.
In short, condos are a popular, desirable and affordable option. Come tour any of our show suites to get a sense of what your life in a condo could look like. We’re confident you’re going to like what you see.