Tweet Most old condos show their age and when purchasing an old condo there are few advantages- one would be the size of the rooms which in some cases are larger than in newer condos and the location- some of the older condos are in great locations in the city.
1. People want to move in and renovate their condo so it looks like new or so it sells better in few years, however when they get down to making the list and getting quotes from contractors they end up with five or six digit numbers!
Let’s start with the 2nd category: of condo owners renovating for a better selling price. Depending on the timing you may actually consider to drop the price and let the future owner renovate according to their own taste.
If the living/dining area is large enough you don’t necessarily need to change the layout. Having a closed in kitchen offers a different type of lifestyle- it may not be large enough for entertaining guests while you prepare or just organize meals during a party.
So…is it worth to move in an old condo and renovate? It may be! If you like the location, the neighbours, the common areas look, the monthly condo fees, the size, design and functionality of the amenity spaces, the size of your condo, the ceiling height, the size of the windows (sometimes smaller in older condos vs floor to ceiling, wall to wall in new condos) the view and the price (after you considered how much you would need to invest in renovating it)… then it looks like a great find! If not, there are plenty of new condos to choose from, the number of New Developments are constantly increasing, click here to find out details.