What a difference a year-and-a-half makes.

The market was so busy and the number of listings for resale condos so low (especially those in our price range), we based the decision to purchase our townhome on a five-minute viewing. After three lost bidding wars that weekend on other properties, and countless nervous cell phone calls exchanged with our realtor, we could scarcely recall which one it was that we had successfully bought.

We saw past the old stained broadloom (I still don’t know what the crusty patch in the bedroom was on the long-since-replaced carpet) and the stark white colour scheme, which extended to the metal railing, doors, walls, appliances and cabinets. We even turned a blind eye to the burgundy blinds and sunflower valance curtains, and over­-looked the fact that the previous owner’s designs for making the living room a warm, cosy space included a pine armoire to house the TV and a floral throw over an aging sofa.

But now, with listings up 25 per cent from when we bought—and nearly 10,000 properties on the market and prices on the downturn, at least in single-family homes—people are taking more than five minutes to settle on the biggest investment they will ever make. And the bidding wars have come to a screeching halt, as evidenced by the growing convoy of for sale signs in my complex alone. At last count there were eight.

So that begs the question: just how much renovating is too much when you are preparing to get your condo on the market?  Not that we are looking to hoist a sign in the window immediately, but eventually it will be a consideration when we’re set to move up.

Luckily the experts tell me, single-family homes have dropped their prices by as much as $10,000 to $20,000, but condo prices continue to rise. But that’s not to say there’s not some hefty competition out there, as the myriad signs lining my complex would confirm.

Bob Truman of First Place Realty, who has a blog on the ’Net on the Calgary market which he updates fairly regularly, says in the current buyers’ market its best to think hard before sinking too many hard-earned dollars in renos for those looking to sell their condo. “I tell my clients to leave it the way it is and offer a lower price,” says Truman, adding, “it’s been my experience people who have put a lot into reno­-vating haven’t recovered their money.”

The exception, says Truman, is those willing to roll up their sleeves to pitch in a little sweat equity, like my husband and I painting the place ourselves and taking on the task of replacing baseboards and laying some fresh new flooring. He advises a reality check to would-be sellers, saying “you have to be cognizant of where you are,”—in other words, shelling out tens of thousands of dollars to a condo in the entry level of pricing may not give the return you are expecting, as there is only so far for your price to go in that part of the market.

Cori Sterrenberg, associate agent with Christina Hagerty Remax Realty Professionals, says today’s condo shoppers are busy and can’t—and don’t want to—see beyond the clutter and bad décor decisions, so it’s best to keep it simple when getting a place sale-worthy. “People are looking for a good deal, but they don’t want to have to do the work. You could do the extreme renovation, and do everything, but you are looking at $20,000 to $30,000, but you can get away with spending $10,000,” she notes.

To that end, Sterrenberg advises sticking to cosmetic, rather than structural changes for a look that’s clean and crisp. “The most important thing is a fresh coast of paint and keeping your place really, really clean—show home clean,” she says. “It should look as though you’ve already moved.”

She also suggests shedding a little light on your situation. “Change out your light fixtures and if the appliances are old, and that means older than ten years, update them,” adds Sterrenberg, noting, while appliances may be a bit of an investment, updated lights at $25 to $40 a pop from a hardware store can make a world of difference to potential buyers. (We haven’t gone that route, but it is definitely on the to-do list.)

I was also relieved she deemed our opting against replacing the kitchen cabinets to the tune of several thousand dollars in favour of a fresh splash of melamine paint wise, as was exchanging our brass handles for some funky chrome pulls. But while the thousands we spent in new laminate and short shag to update our 30-year-old address may have been necessary in our case (did I mention how hard it was to breathe for a week after ripping out the old allergan-infested carpet?), it’s not always the best option.

“If you are wanting to renovate strictly to sell, your flooring may just need a good cleaning,” says Sterrenberg.

And the mustard, crimson or chartreuse that makes your house a home may not exactly warm the heart of the next buyer, so it’s best to stick to neutrals when choosing hues to roll on the walls. While everyone raves about our daring use of chianti and khaki mixed with chocolate brown, the buying public may not be able to see themselves and their own things in our space when we are finally ready to put it up for sale.

“Bold colours make it harder for people to see themselves in it,” says Sterrenberg. “You want a blank canvas—very neutral colours—as plain as you can get.”

Now I just have to find a way to break it to my husband he’s got a trip through the beige aisle at the paint store and a lot more brushes, rollers and green tape in his near future. And that newly paid off Leon’s card may be getting a little exercise in the appliance department soon.  CL