Condo buildings start to lose appeal and value the moment they look tired and old. However, your condo board can modernize your building to revitalize curb appeal and create a more inviting, upscale lobby. Here are five eye-opening ways to modernize your condo building to maintain value, improve owner satisfaction, and boost energy efficiency.

1. Update Windows and Balcony Doors 

This upgrade appeals to both interior and exterior aesthetics while boosting energy efficiency. According to a Building Failure Study by Canada Mortgage and Housing Corporation, 60% of building energy consumption goes towards heating. As a result, old windows and doors play a significant role in heat loss. This is number one on our list as it improves unit value and comfort, reduces the risk of water and air leakage, and increases energy efficiency, all while making your building look good. 

2. Lobby Makeover  

The lobby is the first thing people see when entering the building. Modernizing your lobby can be as simple as reinventing the colour palette with fresh paint, artwork, and flooring or introducing natural materials to create interest on the walls, floors, and ceilings. Installing dramatic chandeliers, pendant lights, and new task lighting can also make a space feel more modern and elegant. If you have a concierge/security desk, updating the desk and lighting also makes a big impact. Updated furnishings also help create a modern, welcoming space.  

3. New Balcony Railings 

New balcony railings keep balconies safe and up to code while adding to the building’s curb appeal. However, choosing aluminum railings also provides a more maintenance-friendly material that will resist rust that damages the integrity and appearance of balconies. You can select a more contemporary colour and consider adding glass as a modern addition. Although glass balconies cause safety issues when not properly installed, working with a reputable balcony restoration company specializing in glass will prevent falling glass risks. 

4. Main Entrance Vestibule Replacement

If you can’t afford a lobby renovation, a vestibule replacement and security upgrade at the front entrance can make a considerable difference. These updates are significant energy savers, creating a modern aesthetic that feels more functional. Smoother opening doors with automatic closing capabilities in hand with sleeker materials on window frames all create a more inviting, secure, and energy-efficient building. New vestibules reduce air and water leaks while incorporating wider doors with updated automatic door openers improves accessibility. 

5. Install an Exterior Insulation and Finish System (EIFS)

EIFS cladding updates your building’s exterior while improving water resistance and insulation. You enhance energy efficiency and enjoy lower maintenance costs with an EIFS designed to resist issues such as mold/mildew and discolouration. The cladding will last for decades without worry of leaks, and you will also improve thermal and moisture control as a bonus. An EIFS is customizable, allowing you to create a unique exterior to overcome that tired, old look with something timeless and functional. 

As you can see, you can modernize your building in several ways with a solution to suit every budget. 

A property management company can help improve reserve fund planning and prioritize your modernization plans. As a result, you’ll see the best ROI through enhanced energy efficiency and increased property value. The condo experts at CPO Management Inc, a full-service property management company in Toronto and the GTA, can implement cost-saving building modernization and energy efficiency programs. Reach out to us today to learn more about our condo services.