Monday April the 23rd, 2018 
Cecilia Ramos
Mortgage Broker Lic. M008002669

Ultimate Mortgage and Finance Solutions Inc FSCO Lic 11995
Brokerage
Independently owned and operated
Cell (416)728-1562              Office (416)757-9957

Condo Renovations

May 13, 2009 - Updated: August 1, 2013

 

Thank you for visiting www.GreatMortgageAdvice.com By Cecilia Ramos

Click here for Quick Pre-Approval

Article from The Toronto Star regarding Condo Renovations

Condominium Renovations (Modernizing an Older Condo)

Remember the condo boom of the 1980s? Back then, condos were springing up in this town faster than dandelions on a spring lawn.

According to Canada Mortgage and Housing Corp., 58,665 highrise condominium units were built in Toronto in the decade starting in 1984.

Now, 20-plus years later, those units might be starting to look a little old. A little tired. In other words, they need a reno.

Renovating a condominium unit is not the same as renovating a single-family home. There are big differences that can trip you up if one undertakes the process unprepared.

So why would someone buy one of these old, tired units that needs to be renovated as opposed to a brand spanking new unit with all the bells and whistles?

Condo buyer and real estate agent Judy Wingham has the answer to that one – and it, of course, starts with location, location, location.

"We really wanted to be in the St. Lawrence Market area, and there weren't any new projects in the area when we were looking," she explains. But, equally important to Judy and her husband, Brian Smith, was the size of the unit itself.

"How do you find a place big enough when you're downsizing from a four-bedroom house? We only looked at older units because they're generally larger than the new ones," says Wingham about the 1,300-square-foot, two-bedroom condo they purchased.

Condominium lawyer and Toronto Star columnist Gerry Hyman says buyers (or owners) who are considering a condominium renovation need to be very cognizant of the rules that govern renovations in that particular building or risk finding out too late that they can't do what they were planning.

"Condo buyers should make their agreement of purchase and sale conditional on the examination of the status certificate," explains Hyman. "This will include a copy of the declaration and the rules. If you sign an agreement of purchase and sale without taking that step, you may be too late."

The declaration outlines what is owned jointly by all the owners in the building (called common elements) and what is owned by the unit owner. As a general rule, you can change what you own, but can't change any of the common elements without the express permission of the corporation.

This is where what is or isn't a common element becomes important, because things like windows, balconies and unit front doors are almost always common elements, and many declarations prohibit any structural, plumbing or electrical renovations.

"People may have carried out renos they shouldn't have and the corporation can require them to put it back the way it was," says Hyman. "It's rare, but it does happen."

The condominium rules may also contain additional guidelines regarding how the work is to be carried out. Things like parking for tradespeople, the hours they are allowed to work and disposal of garbage may be spelled out in the rules.

Because of the added complications involved in renovating a condo, there are contractors who won't even consider doing that kind of work. Others, like Sandra Baldwin, president and owner of Lifetime Contracting in Toronto, find it's not that difficult if you have the right approach. She's completed a couple dozen condo renos in recent years and says the key is to involve the condominium corporation from the beginning.

"If you approach the condominium corporation right up front, they are usually very helpful and try to accommodate you," explains Baldwin.

She gives condo clients a detailed written estimate that they can give to the corporation, along with a covering letter, so they can seek approval long before the work begins.

For her, the biggest difference in condo vs. single-family home renos is the time factor.

"Getting materials and debris to and from the unit – that's a big hassle," she explains. But, on the plus side, building permits are often not necessary, as they are often not doing work that involves plumbing, electrical or structural elements.

I, too, have found that the timing issue is the most difficult to manage when renovating a condominium. Many corporations will have set hours that tradespeople can work – usually from 9 a.m. to 5 p.m. – which means that I can't just schedule trades to work a few extra hours if the job gets behind. Parking can also be a pain as many buildings only have one or two (if any) service parking spaces and these are snapped up early. Most experienced contractors will build an allowance for parking fees into the original quote or contract.

While Brian Smith and Judy Wingham did their homework before purchasing, there were still a few surprises along the way.

"We couldn't do pot lights because the ceiling above is a cement slab," explains Smith. "Of course, that makes sense, but it's not something you necessarily think about right away. And, all the structural walls in our unit are concrete slab as well, so you can't even put in a new plug. It made planning more challenging."

Waste removal was also a big challenge. During the renovation process, Smith negotiated bringing in a dumpster, but the corporation would only allow it to be on site for one day – meaning all the waste had to be stored in the unit and carted out all at once.

"You can't dirty the hallways or the elevators either," explains Smith. "An awful lot of care had to be taken at every step of the process."

Every room of the couple's condo was tackled, with new trim work and painting throughout, new hardwood floors in the main living areas, new tile in the entry, kitchen and bathrooms. Both bathrooms and the kitchen were also completely renovated and a den was created where there was a solarium. The price of the reno ran about $120,000.

Another big challenge is trying to change the location of things like sinks and toilets when you can't touch the plumbing behind the walls. In Judy and Brian's kitchen, for example, the pipes were extended behind the cabinets to move the sink and dishwasher to their new location.

The ensuite bathroom was more challenging. To move the toilet, a step up was built so that the new drain could slope properly to the old drain location. To minimize the visual impact of this step, a half-height wall was added between the toilet area and the rest of the bathroom, adding more privacy in the process.

To replace the bathtub with a built-in shower, the new shower was located so that the existing drain from the bathtub could be used without raising the floor level or drilling for a new drain.

The costs for these kinds of changes is comparable to those incurred in a traditional renovation, it's just the methodology that differs. (Of course, the condominium management was consulted before proceeding.)

Smith and Wingham have some words of advice for those considering a condo reno: Be flexible, work with a contractor you can trust and make your decisions on time.

"That was what really surprised me, how quickly we had to make decisions," said Smith.

"We were on a tight timeline (two months) and we had to get out there and choose the tile, granite and fireplace surround on time, or it would have held up the whole project,"says Smith.

Condo owners considering a renovation need to make sure they hire a professional who has done condo work in the past, says Baldwin.

Comments on this article…By Cecilia Ramos

Please do not be fooled or victimized by a sweat talking contractor.  Let me first state that CONDO and HOUSE renovating ARE BASICALLY THE SAME THING.  You need to follow a few extra rules (underlay, times, etc.) when renovating a Condo but nothing too serious.  It is important to understand the guidelines before you renovate.  Please note that every Condo has different (but similar) guidelines.

A Condo typically has les space to renovate in comparison to a house.  This means that the design philosophy regarding the renovation may differ.  Some people believe that a good idea when renovating a small space is to get better than average materials to work with ie. granite.

Most condo renovations are basic modernizations of the condo, turning something old into something new.  This kind of renovation is the cheapest one can perform.  Unfortunately some renovators will take advantage of a condo owners lack of knowledge regarding the work and real costs (material) that will go in to the renovations.

The most important things when renovating a condo is; budget, style, goals, condo guidelines, knowledge knowledge knowledge.  Yes I mentioned knowledge three times.  Knowledge with definitely help to prevent you from getting “ripped off”.  Trust me you don’t want to be the one with the renovation costs of $120,000. 

I suggest that you figure out what you want to do.  Go to Home Depot (or RONA, LOWES) to get basic costs material costs.  Ask the renovator how much time and how many people the job will take.  Then subtract the material cost from the price of the job followed by dividing the remaining amount by the time to complete the work.  This will give you your hourly wage.  If you think that the renovators are worth the hourly wage then by all means however if not then do not hire them.

Lastly get three quotes. 

I hope this helps.  

For all of your Real Estate and Mortgage Needs please feel free to contact me anytime.  As always the referral of your family and friends is always appreciated.

Thank you,

Cecilia Ramos  
Mortgage Agent M08002669
Argentum Mortgage & Finance Corp
Tel  (416)757-9957
Fax (416)757-9937
Cell (416)728-1562
cecilia.ramos@rogers.com

www.GreatMortgageAdvice.com

 


Tagged with: cecilia ramos condo renovations toronto condo old vs new condo mortgage advice real estate advice toronto real estate gta real estate condo reno tips condo renovation guide condominium ronovations
| | Share

Home  |  Top  |  Printer Friendly  |  +Bookmark  |  Privacy Policy
Powered by Lone Wolf Real Estate Technologies (CMS6)