Quote: (08-31-2016 03:26 PM)Repo Wrote:
Laner, I've been thinking about buying a condo myself. Can you go into more detail about these "luxury materials", and what besides your patio do you think added the most value?
My condo, which is in a neighborhood I have lived in for 15 years, was built at the end of the last housing correction (2009). I watched my hood closely, as its by and large a different beast than most markets. Its the poorest hood in Canada, but also has some real estate that sells for $7-$10 million. Junkies, pimps, dealers drinking next to artists, celebs and entrepreneurs. Models, hookers and Asian students.
I write this because its paints a picture of who I was potentially targeting when I purchased the condo, and the demographic I would likely sell to when the time came.
Because my place finished in 2009, money was an issue with the developer. They were completing at a time when no one had faith in the market, so they finished the place with lower quality finishing. The bones cannot be compromised, but light fixtures can.
Bathrooms and Kitchens are where the return is. I gutted the main bath and put in a spa shower with high end fixtures and sexy lighting. Clean glass and a shower bench to fuck on. Corian tops on the bench and a lasting white on white.
The kitchen I did Corian counters again, which I made at my studio. Undermount stainless sinks and high end faucets. I refinished the stainless appliances and did a nice custom stainless hood, which I also fabricated. These stainless things would run a normal person about $6k, but I did it for cost of materials and had a friend brake them on a press for $400. I did the welding and polishing.
The dining room table was also a custom job, a huge corian topped table and bench with stainless frame (notice a trend here?). High end Tom Dixon feature chandelier. Save on some mundane things and splurge where it counts (chandelier).
I bought some high end flooring at auction for next to nothing. Hired a meth head to paint the whole place in one day for $500, took him 16 hours of nearly non stop work but he was amazing, superhuman almost.
I did a custom patio bench with some integrated planter boxes with good lighting, and a high top corian bar that clips onto the railing.
Also the custom high end roll up blinds I got for 50% off, which when compared to the neighbors who all have horizontal aluminum blinds, look off the charts.
The trend is for things that last a lifetime (corian, stainless). Renters/AirBnB, whatever, they can't do damage to these materials. Just polish any damage out and good to go.
Condos are easy to work with, can't really fuck up, but can be awesome places to live. There are probably 60 hot women in my building, who all get along and see each other around. The pool and gym are always buzzing, and I take care of nothing other than keeping my place fresh.
I love my life here.