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Toronto’s condo market is on the rebound after a tough couple of years, but builders, investors, and interior designers are still looking for ways to make sure their units stand out in a bustling condo market.
With prices beginning to plateau, builders and investors are looking for features that will attract higher bids from prospective buyers and offer better value, especially as so many buyers have turned their attention to bigger freehold homes further from the downtown core. With space becoming a bigger priority for buyers, condos need these luxury features to attract top dollar.
#1 Kitchen Countertops
The generally smaller footprint of condos puts extra emphasis on kitchen areas, which become even more central and upfront than in larger freehold homes. The kitchen, which in many units is open to the main living area and right by the front door, is a focal point in the home. Kitchen upgrades have some of the best returns on condo values.
Kitchen countertops have a huge visual impact in condominiums, and you want something that’s beautiful, functional, and durable.
Porcelain countertops are newer in the stone industry but an excellent material to consider. They’re a versatile and durable option that’s low-maintenance, owing to their heat- and stain-resistant qualities. It’s also cost-effective, making it an attractive option for new developments. Look into your options for a premium porcelain slab fabricator in Toronto who can work with builders and developers for cost-effective kitchen counter upgrades.
#2 Kitchen Appliances
In addition to countertops, kitchen appliances are also an important feature for most buyers. In many smaller models, the minute you walk in, you see the fridge, stove, etc.
Higher-end, visually appealing appliances are an easy win when it comes to kitchen upgrades. Stylish, energy-efficient appliances will update the entire feel of the kitchen and make the unit more appealing as a place to live or invest in.
#3 Bathroom Upgrades
Bathrooms are the next best upgrade after the kitchen when it comes to condo value. Space is usually at a premium in condo bathrooms, so storage improvements can go a long way to improving their functionality.
Each individual element also has a bigger impact on the visual effect. Porcelain vanity tops create an instant feeling of luxury and cleanliness. They’re also easy to maintain – an important quality anywhere that’s frequently exposed to water. Porcelain vanities can also be made to look like any type of natural stone, as well as solid colours or wood, making it easy to fit in with just about any aesthetic.
#4 Premium Floors
Floors can make or break the value of a condominium. One of the best ways builders and renovators can stand out from a crowded market is to invest in a quality material. Hardwood in the bedroom and living areas are the gold standard for quality floors, while porcelain combines functionality with a premium feeling in kitchens and bathrooms.
Materials to avoid include cheap laminate, which gives the appearance of plastic, while carpet is another material that tends to raise eyebrows among buyers. Carpet is hard to maintain and wears out quickly. No one wants to worry about spilling a glass of red wine when they’re unwinding from a day of work.
#5 Extra Storage
The typically small square footage of your average condo can quickly make the space feel cramped when it comes to storage. Offering extra storage amenities such as a locker or storage room an go a long way toward persuading buyers that they don’t need to hold out for a bigger unit.