Whether you’ve been in your New York apartment for years, looking to sell or recently purchased the unit, doing a renovation offers many benefits for your residence. With little new real estate in New York City, it is difficult to find an apartment that satisfies all your desires. Many are turning to renovating what they currently own.
Aside from making your home more enjoyable to live in, completing renovations can add significant value to your apartment. In fact, some renovations can recoup upwards of 107% of their cost.
In this post, we’ll illustrate some popular renovations that add value to your apartment. Read on to learn more.
Begin With an Inspection
Before you begin selecting new items for your renovation, it’s advisable to have a professional to inspect your apartment. Work with your architect to ensure that the ideas you have for renovation are practical and get an idea about the costs and steps involved in the renovation.
Many architectural firms can handle obtaining the necessary building permits for you as part of the overall apartment renovation.
Budget Smart, Go Green
If you want to add the most value to your home with an apartment renovation, you can start by focusing on smaller renovations, such as kitchen and bath upgrades. The right kitchen and bath makeover will provide the most resale value for your apartment. Note that expansion of kitchens and baths can be difficult as many buildings do not allow expansion of “wet” areas (bathrooms and kitchens) over “dry” areas in apartments below yours.
Painting the walls, whether they’re in need of a touch-up, or you’re just feeling a different color scheme, is an easy way to increase the value of your home and part of most kitchen/bath remodels.
Updating things like cabinetry, countertops, stainless steel kitchen appliances, and doors provide a substantial ROI. So does refinishing hardwood floors. Take it a step further and go green, installing smart, energy-efficient appliances. For example, one of the most popular items on the market lately is smart faucets.
Be a smart consumer and do your research on the newest items available and how they can be incorporated into your renovation budget.
Invest in What Buyers Want Most
There are certain things that an informed buyer will look for in any new home, such as washer and dryer units and central air conditioning/heating.
Incorporating storage solutions in your renovation often is a well-needed feature and an advantage for reselling. For instance, a wall storage unit comes in handy when you’re in a tight space and have limited cabinetry.
If you save your apartment renovation investments for things that buyers want most, you’ll benefit from increasing the value of your apartment, and, when it’s time to sell, more money in your pocket.
Think about what you’d expect to find in a newly renovated home and start there.
Focus on Elegant Upgrades
If you’re investing in a larger renovation, there are several interior design elements that are popular among many New York City apartment dwellings. Some owners are going with traditional molding with natural materials. Other are choosing to go with a modern look which features white, clean lines and works well with an open room layout.
Additionally, a unique countertop option is to install a leather finish (low sheer) on granite countertop for your kitchen. It’s an elegant feature to the standard countertop. Upgrading cabinetry with glass-faced doors and wood lacquer is another stylish element.
Enjoy Your Apartment Renovation
Renovating your home is an exciting process, in particular, if you’re working with an architect who understands your vision and knows your budget restraints. A harmonious living environment starts with the right architecture.
When you begin with smaller projects that brighten up your space, you’ll feel a breath of fresh air throughout your home. Plus, if you decide to make some larger investments, by focusing on what you and what buyers want (with the help of an expert), you’ll reap the financial benefits.
If you’re ready to tackle an apartment renovation, contact us for a consultation. Our experienced team has worked on approximately 120 apartment renovations in New York City and is familiar with the necessary building requirements. Let us assist you with your project and help you realize your vision, goals, and dreams in the process.
Located in the Greater New York area, Jeffrey Jordan Architecture specializes in the design of high-end projects such as luxury apartment and townhouse renovations, schools, churches, temples and offices.