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Maximize Your Condo’s Value With Smarter Upgrades

Steven Fudge, Sales Representative& The Urbaneer Team

Bosley Real Estate Ltd., Brokerage(416) 322-8000 • urbaneer.com • info@urbaneer.com

We hope you don’t consider this junk mail, but valuable information! Not intended to solicit properties already listed. At urbaneer.com/Bosley Real Estate Ltd., Brokerage, we respect your privacy.

As realtors, we are tasked with interpreting the latest Toronto real estate market trends. Over the past decade, due to climbing prices and a shortage of freehold housing stock, more and more Toronto homeowners are gravitating toward condominium ownership. Even if you are planning on staying put for a while, you may be wondering how you can best increase the value of your condominium. While there are countless common improvements that might boost asset value, there are some that we consider essential for condominiums. However, before tackling any of the projects on our list, it’s important to consider a couple factors that are specific to presenting a condominium for sale.

First, as we have spoken about on numerous occasions in our seasonal Toronto Real Estate Forecasts (visit urbaneer.com to read them in their entirety), there is far more inventory available in the condo market than in the freehold market. Right now only one out of four high-rise units are securing a Buyer each month. As we have stressed in the past, an essential component of creating an effective sales strategy is helping your unit stand out and make an impression on the Buyer. It’s all about the unique, wherever and whenever possible.

Second, there are those that believe that condominiums should be updated frequently in a bid to preserve (and boost) their value. This may be something to keep in mind moving into your next purchase. Condominiums can get dated pretty quickly; with the fashion of housing making kitchens and baths have a life span of around eight years, and with all the high-style new condominium stock continually entering our booming market place, there can be some stiff competition when trying to sell. But there are some important changes to be done:

The FloorIn a smaller space, one of the key aesthetic elements (and one that will increase the perceived value) is the flooring. When budget allows, opt for engineered hardwood, because of its durability, as well as its polished look. Right now engineered plank floor in a warm neutral is all the rage. While it’s important to ensure your selection reflects the overall design aesthetic of your space - and you’re not installing something that will clash with fixtures and fittings - we tend to recommend choosing materials which are current and on trend.

Avoid carpet when you can. While it serves a purpose, carpet wears quickly and can make a space look older than it actually is (though if you’re operating within a limited budget, carpet is acceptable in bedrooms). Carpet is also linked to personal taste; one Buyer may like your colour choice, whereas another may not. In the name of neutrality, as well as style - we recommend you go for the solid, sleek surface in the entertainment zones.

HardwareWhile a total kitchen overhaul may not be in your budget, you can fast-track your cabinetry into the current day with some blingy

handles and door pulls. This is a very inexpensive way to inject the contemporary. The ubiquitous gets a bit of a custom-feel, and lends a spot of understated luxury. Incidentally, in older condos we’re often recommending painting old wood cabinets white to give it a cleaner look which Buyers find more appealing.

The CountersLike your flooring, your counters are a major focal point in a smaller space. The general sentiment at the moment is towards granite or quartz for countertops, which are excellent for durability. A word to the wise though. Buying the top-end counter top may not translate directly towards return on your investment. Pick a quality product that makes sense in your décor. It should serve to tie the overall flavour of the space, both in colour and in finish - and that is what will create the best impression on the potential Buyer. Be cognizant of where resale values for condos like yours are landing, as you don’t want to over-improve your space relative to the resale values in your building.

Storage SpaceIn a smaller space, what is it that you long for the most? More space? Probably more storage space, to be exact. An empty ill-organized closet can be a missed opportunity to communicate value to Buyers. It’s not just about the size of any closet, but the purpose and utility of storage space. Divide the closets with shelving, and built-ins, which are generally not costly. Use the same tactics with drawers and cabinets as well. LightingPeople tend to choose their lighting based on affection for a particular light fixture. This will not help you to boost your asset value. Rather, remember the purpose of the light, and how it can transform the sense of a space - from wide open to boxed in. Make sure that light fixtures match the rest of the décor, including hardware. Pot lights and recessed lighting, although more expensive to install, are valued by Buyers.

At urbaneer, it is our mission to help you put your best property forward, both when you are selling- and when you are occupying it. We pay attention to the details and nuances that will appease Buyers, transporting your sale towards top dollar most expressly. We are property owners too, and have real-life experience with the value that certain renovations can contribute. With over two decades of experience, we’re here to help!

We’re here to earn your trust, then your business.

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At urbaneer.com, we offer saavy insight and expertise on real estate in the City of Toronto. For over 22 years, we’ve specialized in the marketing, promotion and sale of Unique Character Freehold and Condominium Urban Housing and renowned for having pioneered the Innovative Space marketplace comprised of:

• Architect designed homes

• Character dwellings

• Low-maintenance living

• Loft conversions

• Smart-buy investments

Steven’s real estate expertise includes:

• Featured in the New York Times, Reuters Press Canadian Real Estate Magazine, CBC Radio, Global TV, The Globe & Mail, and National Post

• Multi-disciplinary Master’s Degree on Housing

• Over 25 years experience from Renovation & Design to Sales & Marketing

• Comprehensive understanding of Toronto’s 42 Central Neighbourhoods

• Consistently a Bosley Top 10 Producer (#6 in 2014!)

• Attained 106.6% of the asking price for our 2014 listings!

• We offer design, merchandising & staging services to help achieve the maximum sale price of your property urbaneer com

Presenting Innovative Urban SpacesCall us now at 416-322-8000

Steven FudgeSales Representative

& The Urbaneer Team

urbaneer.comBosley Real Estate Ltd., Brokerage

(416) 322-8000info@urbaneer.com

COMING EARLY MAY: An Ethereal Vintage Movie House Loft in Little Italy $679,000

Situated at the intersections of design, city and culture, with the intimacy of a family compound and the discretion of a boutique hotel, this domestic ‘I Dream Of Genie’ bottle features 2 bedrooms and 2 bathrooms. Boasting 1100-square-feet over 3 levels, this understated, near-perfect bespoke luxury loft is enveloped in exquisite custom millwork, massive crown moldings, ethereal linen draperies + a ‘Silver Leaf ’ ceiling. Bathed in light from a breathtaking 2-storey arched window with French doors that connect to a private street-level terrace wrapped in three custom-made screens by ‘thing-maker’ David Hind, this is nothing less than heart-grabbing! Coming to market in early May!

A Stylish Towne on Sudbury Street in Hip King West $479,000

Entering through its own private front door, the suite walks up a flight of new hardwood stairs to an entertainment level with a 2-piece powder room. The open space plan is anchored by recently installed plank engineered wood floors, recessed lighting, and a chic modern chandelier. It connects to a gorgeous cook’s kitchen with marble-encased peninsula, stainless steel appliances, and on-trend duo-toned shaker kitchen cabinets. On the upper level sleeping sanctuary, what was once three bedrooms is now two generous rooms. The highlight is a grand master bedroom with south exposure, great proportions, and the custom built-in wardrobes. The second floor is rounded out by a second bedroom and a full bath. The true gem of this property is the 288 sq. ft. roof terrace!

A Bespoke and Bijou Executive Hard Loft In The Merchandise Building $1,700/Mo.

Upon entering this exquisite loft that expands over 630 square feet, the eye is immediately drawn upwards, pulled by soaring 12 foot ceilings and huge windows that bathe you natural light. Marrying the grit of its past with a chic redux, the polished concrete floors spread throughout the space and reflect light from the eastern exposure. A dreamy and efficient chef ’s kitchen offers ample creative space to savour, celebrate and enjoy with all whom you hold dear. We particularly adore the expansive master sanctuary, which immediately extends an invitation for respite and repose. This calming space extends into a semi-ensuite luxe spa-like bath, and features adjacent ample storage. The loft includes parking for one vehicle, and a generously sized storage locker as well.

A Fresh Starter in The Junction $309,900

Suite 1525 combines 500 square feet of urban condo essentials. The smart and functional open concept lay-out features an entertainment space that accommodates both sitting and dining areas. The stylish compact kitchen is fitted with granite counters, a double sink, stainless steel appliances, and a breakfast bar. The bright and sunny master bedroom provides for a cozy sanctuary, and includes a spacious stand-alone closet. But if it’s views you want, the balcony perch is where you can indulge in the most spectacular vistas of the Toronto skyline. From sunrises to sunsets, the views span from the downtown core skyscrapers, to the shores of Lake Ontario. The only problem you will have is deciding which is better - the view during the day or at night.

SOLD

A Blooming Rental On Rose Avenue in Cabbagetown $3,100/Mo.

Unit 5, nestled on the second level of the dwelling, is about 1100 square feet of interior living space. Featuring 2 well-proportioned bedrooms and 2 luxe baths, this sun-drenched suite has high ceilings, bay windows, laminate floors, and an open concept layout. There’s a U-shaped cook’s kitchen with stone counters, stainless steel appliances and even gas cooking! Plus I love the covered terrace, which is perfect to slip out to after a long day to enjoy your favourite libation. for warm summer evenings. This suite has been recently renovated and provides all the necessary luxuries sought by today’s busy urban professionals. Fully equipped with ensuite laundry, central air, custom blinds, and one car parking, this sweet suite is available for July 1st, 2014 at $3100 per month plus around $125 per month for utilities.