Tuesday, February 28, 2012

Condo News: Finishes Appointment

We finally got the call! The designer has called us to book our appointment to select the finishes for the condo. I literally was jumping up and down for about five minutes. I've never been so excited to give away thousands of dollars!

After posting on the issues and talking with some people who have bought pre-build houses/condos, we've quasi made some decisions on how we'd like to proceed with selecting finishes... but it all depends on how the meeting goes and what the prices are. It might be more practical to get some finishes installed before we move in and it might be more practical to do some ourselves. We'll know more after our appointment  - soon!

Kevin and I have been discussing the return on investment (ROI) when it comes to selecting finishes. This condo obviously isn't going to be our forever home. When/if we start a family we're going to run out of space in this place pretty fast and when that day comes, we'd ideally like to be able to rent out the condo (income property!) and use it as collateral to buy a bigger home. If our situation won't allow us to do that, then we'd sell the condo to buy our next place. I'm really hoping we'll be able to rent it out in the future and that's what I'm planning for, so we're going to rein in a bit on upgrades. So, hardwood floors are most likely out as they would eat up the large portion of the upgrading budget. I'm not too bummed about it though - after researching what renters look for in a space, I found that they just want a non-carpeted space, not necessarily hardwood, so it's all good. And there are some really good quality (durable and good looking) laminates out there these days. 

Do you have any thoughts on the ROI for upgrades? What do you think about laminate over hardwood in condos and in rental properties? Personally, I have a hard time dealing with carpet due to dust allergies so I always prefer non-carpet spaces - although I really really really love the look of berber carpet... 

photo source is here

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