Below is a 1960’s ranch-style home that was in original condition. We did a complete makeover that generated 50 prospective buyers, 12 offers and sold for $900,000 (30%) over list price.
Interesting to see the dramatic difference. Can you imagine what it would have sold for with only basic market prep?
Living Room – the first room you see when you enter the home. Tiled over the old-style stone fireplace with contemporary white tile. Refinished the original wood floors to match hall and bedrooms. Added LED can lights to help brighten the room.
Kitchen – looks like a kitchen that was probably updated in 1980’s. Replaced tile countertops with white quartz and backsplashes with contemporary tile. Painted the existing cabinets white to brighten-up the entire kitchen, plus today’s buyers prefer painted cabinets. Replace linoleum flooring with real oak wood and stained to match living room and hallway. And new stainless steel appliances. What a difference.
Master Bathroom – the original bathroom for sure. Replaced vanity with a new free-standing one, Installed a new shower and retiled the shower wall. Replaced the linoleum flooring with contemporary-style tiles.
Hall Bathroom – original bathroom that was in pretty bad shape. Kept the vanity cabinets with new paint. Replaced Formica countertop with quartz slab and new sinks. Replaced original linoleum flooring with luxury vinyl tiles.
Backyard – A large backyard with lots of fruit trees, but lawn long-gone. Installed new sod and pruned trees and plants. Painted concrete patio for a clean, fresh look. It is now a very attractive feature of the home.
My Take – the extensive makeover resulted in the home selling for 30% over list vs. say 10% to 15%. That’s close to $500,000 return on an investment of $50,000 over basic prep costs for market. Today’s buyers strongly prefer an updated home that is move-in ready.
Compass offers an interest-free, no cost loan that can fund virtually all makeover costs. The loan is paid-off out of escrow so virtually no cash required by you. We also have a bridge loan program and lenders that can provide a loan on your next home without having to sell and close escrow on your existing home. Combined with my contractor team, it can be a pretty easy process for you.
Let me know if you would like more information or to discuss your options. Click HERE to see the finished product.