Understanding How the Age of Resale Condominiums Affects Renovation Costs and Interior Design

Potential Problems and Defects in Older Resale Condominiums

When considering the purchase and renovation of an older resale condominium, several issues and defects commonly arise:

Structural Issues:

• Common Defects: Cracks in walls and ceilings, settling foundations, and worn-out structural components. These can be costly to repair and may require the expertise of a structural engineer.
• Inspections: It's crucial to conduct a thorough inspection to identify these issues early on (Redfin) (RenoTalk).

Plumbing and Electrical Systems:

• Outdated Systems: Older condos often have outdated plumbing and electrical systems that may not meet current safety standards. Replacing old pipes and wiring can significantly add to the renovation costs.
• Potential Problems: Low water pressure, frequent clogs, and electrical issues such as insufficient power capacity and outdated circuit breakers (CMHC).

Water Damage and Mold:

• Signs: Look for water stains, warped floors, and mold, especially in bathrooms and kitchens. These issues can indicate leaks and inadequate waterproofing.
• Remediation: Addressing water damage and mold can be expensive, involving repairs to both visible and hidden areas (Redfin).

Window and Door Issues:

• Common Problems: Drafty windows, doors that do not close properly, and outdated locking mechanisms.
• Upgrades: Replacing windows and doors can improve energy efficiency and security but adds to renovation costs (CMHC).

Differences Between Older and Newer Properties

Size and Layout Flexibility:

• Older Properties: Typically offer larger living spaces and more regular layouts, allowing for more customization and extensive renovations. However, they may have structural limitations that restrict certain modifications.
• Newer Properties: Generally have more compact and efficient layouts. While they may be easier and cheaper to renovate, the smaller space can limit extensive modifications (Stacked Homes).

Renovation Flexibility:

• Older Properties: May require significant updates to meet current building codes and standards, adding to renovation time and cost. Structural integrity and compliance with heritage conservation (if applicable) are crucial considerations.
• Newer Properties: Often come with modern infrastructure, reducing the need for extensive updates and allowing for quicker, more straightforward renovations (Redfin).

Considerations Before Starting Renovation Works

Comprehensive Inspection:

• Conduct a detailed inspection covering structural integrity, plumbing, electrical systems, and potential water damage. Engage professionals for a thorough assessment to avoid unexpected issues during renovation (Redfin).

Budget for Unexpected Costs:

• Older properties are more likely to have hidden defects that can escalate costs. Set aside a contingency budget to manage unforeseen repairs and upgrades.

Compliance with Regulations:

• Ensure that all renovations comply with local building codes and regulations. For older buildings, this might involve obtaining additional permits and adhering to stricter guidelines (RenoTalk).

Focus on Essential Upgrades:

• Prioritize critical upgrades such as electrical rewiring, plumbing, and waterproofing to ensure the safety and functionality of the property. Cosmetic upgrades can follow once these essentials are addressed.

Professional Advice:

• Consult with architects, engineers, and experienced contractors who specialize in older properties to get accurate assessments and renovation plans tailored to the property's needs.