Thursday, March 17, 2011

Condo Renovation: Overhaul of a 20-Year Old Unit (Background)

Ever wondered what it takes to totally overhaul an older condo unit?  Like the renovation first-timers we profiled last year, Simon recently completed a full renovation of his condominium.  The end result?  A true testimony to the potential that lies within four walls when you can see beyond what exists.

Over the next few weeks, our blog will cover Simon's renovation experience and his major milestones in a four-part series.


The unit
The unit:  a 1,392 sq ft suite on the 9th floor of Concorde Park Condominiums, built in 1989

Purchase price:  $325,000 (in 2010)

Original features & finishes:  included dropped kitchen lights, well-worn carpets and pink walls

Considerations:  Before making his purchase decision, Simon had viewed a sub-penthouse suite on the 35th floor.  At a $200,000 premium, this unit was fully renovated with top-of-the-line finishes and appliances, and featured 9-ft ceilings (vs 8-ft on other floors).  Simon loved the sub-penthouse unit, but instead of shelling out the $200,000 premium he opted to purchase his current unit and complete the renovations himself, drawing inspiration from the sub-penthouse design.

Renovation highlights

  • Kitchen – All cabinets, countertop and appliances replaced;
  • Flooring – All flooring replaced;
  • Bathrooms – Master ensuite fully replaced.  Bathtub was removed to allow for expansion of master bedroom to include a walk-in closet.  Toilet and cabinets replaced in second bathroom;
  • Trimmings – Baseboards and crown moulding updated throughout;
  • Paint – Freshly painted throughout;
  • Layout – No "structural" changes made but some walls (drywall only) moved.

The plan

Initial budget:  $30,000

Simon's original plan was to complete most of the work himself, with the help of a friend, on a part-time basis over a period of two months.  Drywall alterations, bathroom renovations, electricity and plumbing were contracted to third party.

A look at the "before"

Next week...

We'll explore the steps Simon took in preparing for his renovations.

This renovation experience is being shared for reference and entertainment purposes only, and may not be indicative of what should be expected in all condominiums. Individual experiences will vary based on each condo's respective board, management, by-laws and regulations.