TIMELINE:
PRE-RENOVATION VALUE:
SOLD PRICE:
RENOVATION COST:
INCREASE IN VALUE:
RETURN ON INVESTMENT:
6 weeks
$1,500,000
$1,810,000
$65,000
$310,000
477%
WHAT WE DID
- Complete primary bathroom renovation
- Updated kitchen
- Custom fabricated fireplace wall
- Interior paint
- Replace light fixtures
- Updated wet bar
- Replaced carpets
- Replace door knobs
- Power wash
- Staging
- Refreshed landscaping
SUMMARY
Our clients were moving back to the East Coast to be closer with family and tasked us with getting their home ready for market. The home was in mostly original condition and in order to get the highest value in a tough market, we knew we needed to make some improvements to appeal to a wider audience. This could be done efficiently by removing items that made the home feel “dated”.
After discussions about the pros and cons of improvements, we decided on a full bathroom remodel, refreshing the kitchen, updating the wet bar, interior paint, new carpet, and updating the light fixtures.
The goal was to create a spa-like bathroom with a free-standing tub that looked out to the yard, modern vanity and neutral tile. In the kitchen, the cabinets were in good shape so we opted for a new coat of green paint, quartz countertops, and subway tile backsplash. We removed the fluorescent light box and opted for recessed lights, added modern fixtures over the peninsula, and added brass hardware to compliment the cabinet color.
In the family room, we wanted to make the fireplace the focal point and not just by tiling the existing surround. We opted for marble-like porcelain panels that were book-matched to give the space a high-end, luxurious look. In the same space, the wet bar was refreshed with the same paint color cabinets and countertops as the kitchen. The mirror wall screamed 1990s but being rather complicated to remove, we opted to add trim painted in the same color as the cabinets. For an extremely small cost, we created another custom look and modernized the home.
To finish things off, we had the home and windows professionally cleaned and staged. We implemented our custom marketing plan which highlights all the desirable aspects of the home with regular, twilight, and drone photography and topped off with a captivating property video. We market EVERYWHERE! This included print, social media, online ads and addition to the traditional channels like Zillow and Redfin. Our property website received well over 3,000 views!
Once listed, we had lines outside for private showings and open houses were PACKED! We passed on the many people that wanted to submit an pre-emptive offer because we knew we were in a great position. In the end, we received 16 offers and sold for $512,000 OVER the asking price. This is $210,000 over the last comparable sale. This is the Er Group difference!
