Buying a Condominium in Need of Work

Buying a Condominium in Need of Work

You’re in the market for a new condo and have been looking around but either the price is too high, the location is wrong, or the space doesn’t work for you. Then it happens, you find the perfect location with just what you need below your budget but it needs work, lots of work. You’re wondering if you should consider buying knowing a condo remodeling project is in your future.

Before You Make an Offer

The first thing to do before you make an offer is to check the building association rules and regulations, often known as the CC&R’s. Find out what is and isn’t allowed regarding changes to the condo and how that may impact your vision of the space. If you feel that what you want fits within their allowable guidelines, bring in a condominium-remodeling contractor. Ask for a quote or at least a range of cost and a timetable. Once you have both of those and feel that the estimate fits with your budget and you can work within their timeline, then you’re ready to make an offer.

Working with Your Condo Remodeling Contractor

As you interview and request formal estimates for the condo renovation, a good remodeling company will have you choose cabinets, flooring, appliances, and finishes before giving you a final quote. Although you’re making the purchase to live in the condo, it will help you gain a return on your investment if you choose good-quality materials in modern, but not trendy, styles and colors. The biggest advice for anyone doing any sort of remodeling project is to make sure you like and can live with the products you choose for the foreseeable future.

Living In or Moving Out

Depending on the extent of your condo remodeling project, you may want to consider delaying your move in until the renovations are complete. It’s easier on the contractor and less stressful for you. If your current residence sold and you need somewhere to live and don’t have family nearby, consider a corporate apartment rental or even an Air BnB for the duration of your condominium remodeling. St. Petersburg and the rest of Florida typically don’t allow for short term rentals and hotels can be expensive.

If you decide to purchase the condo in need of renovations, contact Silver Palm Remodeling. We are the leading condo remodeling company throughout St. Petersburg and all of Tampa Bay. Call 727-420-6693 or fill out our easy to use contact form and we’ll come to you to discuss the possible renovations and help you pick the right finishes for your new home.