Don't Even Think About Renovating Your Co-op or Condo Until You've Read This
While the results are usually worth it, renovating a home can be an expensive, frustrating, and daunting undertaking. The additional challenges that come with doing it in a co-op or condo building make it even more so.
Don't worry. I've got you. These five tips, based on my own experience and knowledge, will save your money, time, sanity, and maybe even your relationship.
Do not plan anything until you've read your building's Alteration Agreement. This document lays out all of the requirements and fees for renovating. It also includes your renovation application. Expect to submit detailed plans and descriptions of the scope of the work, with heavy input from your architect and/or contractor.
Rest assured that your board isn't reviewing your plans to critique your esthetic choices (though sometimes it's not the worst idea!). They're making sure that you're not going to compromise the building's systems or structure. This ultimately saves you and your building problems, money, lawsuits, and all sorts of additional unpleasantness.
Cosmetic work, like painting, refinishing floors, or installing new kitchen cabinets most likely won't require board approval. However, you'll have to check with your building's managing agent to ensure you're complying with any other requirements. These typically include submitting your contractor's Certificate of Insurance (COI) or scheduling usage of the service elevator.
There could be costs you never thought of, so ask your architect or contractor for guidance. Most buildings require that common halls and floors are protected from damage. What does that entail, and who pays for it?
Doing everything at once is more efficient than staggering projects, assuming you can afford it. If you're filling out and submitting a forty page long Alteration Agreement for approval (not to mention paying the fees), you may want to renovate the second bathroom now rather than wait. That way you don't have to go through the whole process all over again.
The above isn't meant to scare to you off (though I wouldn't blame you if it did). It's meant to prepare you, so you can more accurately assess the time, money, and effort you'll need to expend. Still, when you're all done, and you're surveying your beautiful new home, you forget the pain. Most of it anyway. Or maybe you should just move instead?
