Today I’m down at the harbor front at 550 Queen’s Key. This is a beautiful little two-bedroom condo that we’re about to list. You know, the place just wasn’t quite up to snuff, wasn’t quite ready to be listed, so we had to do a few quick renovations. Not much in this place, we’re going to replace a few fixtures, we’re going to change the paint. You wouldn’t guess by looking, but this place used to be bright orange. Now we’ve made it white, we’ve J Lo’d it up a little bit and I think it’s going to appeal to a young urban buyer.

Listen, if you own a condo or a house, sooner or later you’re going to want to do a renovation. You may not have friends in the renovation business like I do. You’re going to need to hire a contractor. But you’ve got to keep a few things in mind to alleviate stress and decide what’s most important for you in your renovation.

Here’s the matrix as I like to describe it: it’s a triangle, there’s three points. Right here at the top you’ve got “good,” down here at the bottom you’ve got “cheap,” alternately you’ve got “fast.” Those are your three qualities: good, cheap, fast. Now, when you’re going to interview a contractor or even when a job’s being done, remember that you can only have two.

So before you start your renovation, before you call a contractor on the phone, whether it’s a real expensive design firm or just your Uncle Louis’ going to come by on the weekend and help you out (if they let him out of prison that weekend), think about which of those two points of the three, good, fast, and cheap, are most important to you. If you want good and fast, brother, you’re not going to get cheap. If you want good and cheap, you might be able to get it, but it’s not going to happen over night. And if you want cheap and good…we already said that one. Decide what’s most important to you. Which one of the two points on the matrix are the most important.

For example, right now we need this done fast and we need it done cheap. So remember, before you go through the stress of moving your furniture around, throwing down the drop sheets, going to get Uncle Louis his case of Laker at the beer store. You know, Uncle Louis might be good. Uncle Louis might be cheap and he might do good work, but he’s not going to do it very quickly. He’s going to do it on the weekends, he’s going to do it after work, and he’s probably going to need a two-four at least, so you’ve got to factor that cost in. Two-four a day? No, Uncle Louis, he’s a six-packer, six-packer, yeah. Anything more than a six-pack before breakfast and you probably are not working with the right guy. The matrix is gonna be warped.

Remember the renovation matrix: At the top you’ve got good, at the bottom you’ve got cheap and fast. Pick the two that are most important and stick with those and it’s going to make your life a lot more stress free and it works for me. My name’s Chris Borkowski. They call me Condo Chris, I’m here at 550 Queen’s Key on the harbor front in the heart of the city of Toronto and I’d love to hear your feedback. Thanks for watching.

If you have any questions, or you’re looking to buy, or sell, a Toronto condo, Toronto real estate investment, or office space, call me at 416-486-5588 or email condochris@gmail.com.