You moved into your condominium building a few years ago and it’s starting to look outdated. The once-stylish stucco siding is worn and the concrete pathways are beginning to crack. As a regular attendee of your strata council meetings, you wonder: What’s the best option to maintain our collective property value?
Being part of a strata and making decisions regarding the maintenance of your collective space isn’t always easy. That being said, making the decision to update the exterior of your building is beneficial for everyone. It raises the property value for units within the building and makes use of those pesky fees you pay every month.
Here are the top updates you should consider when it’s time to upgrade your condominium building:
Most of us now use energy efficient light bulbs in our homes, but have you ever thought about the light bulbs used in your condo building? The upfront cost of installing LED lighting can be pricey, but the monthly savings are significant. Experts estimate that LED lighting can save up to $5,500 per month on energy costs within a building’s common areas. Additionally, the installation of LED lighting is beneficial to the environment—something that’s becoming more important to potential homebuyers.
Your building’s entryway sets the tone for how people view the rest of the space. A crisp and clean entryway reinforces the fact that your building is cared for and well maintained. Don’t get carried away—creating an inviting entryway doesn’t necessarily involve ornate chandeliers and a doorman. Sometimes, all your entryway needs is a fresh coat of paint and some new tiles. Just be sure to go with a neutral option that’s favourable to the majority of people.
Replacing a roof is a costly endeavour for every strata but is absolutely necessary in avoiding future damage and keeping insurance costs low. Roofs have an average lifespan of 10 years, but can last up to 20 years depending on the weather conditions of your local area. Accounting for roof replacement in your strata council budget is essential in avoiding a drastic fee increase when it becomes absolutely necessary. Roof replacement is one of the first questions potential homebuyers will ask due to the fact that it’s one of the most costly maintenance endeavours. By replacing the roof when necessary, you ensure your property value is sustained and isn’t threatened by the potential of high strata fees in the future.
Exterior Walkways and Paths
The concept of curb appeal still applies to condominium buildings, as the entrance of your building serves as the first and final impression of your guests and potential homebuyers. Follow your LED lighting changes by installing an eco-friendly rubberized entrance. Not only will it boost the aesthetic appeal of your building, but it will keep your guests safe throughout the year. Rubberized materials have more traction and therefore reduce the number of slips and falls that occur on paved surfaces. Additionally, the material is more flexible and therefore doesn’t experience the same cracks as its concrete and asphalt counterparts.
Rubbertech Resurfacing is the leading provider of residential and commercial rubberized paving surfaces. We’re committed to providing an environmentally friendly solution to your paving needs. Learn more about our services and get a free quote by calling 1-866-370-628- today!