Sometimes, spending a little can make a big difference.
When we first appraised 5 James Court, the property was in its original condition and had not had any improvements completed.
Initial appraisal – As Is
Estimated value: $900,000 – $950,000
Rather than simply putting the property on the market, we sat down with the owners and looked at where their money could be best spent to improve the home’s presentation and ultimately its value.
Our recommended improvements
Inside the home
- Full interior repaint
- New flooring
- New carpet to bedrooms
- New laminate flooring to the main living areas
- Updated lights and ceiling fans throughout
Outside the home
- Full yard tidy-up
- Pruning, weeding and mulching of garden beds
- Full exterior house wash
- Exterior repairs
- Roof repointing
The investment
The owners invested approximately $30,000 into the recommended improvements.
New appraisal
After the work was completed, we reassessed the property at:
$1,050,000 – $1,100,000
Final result
SOLD FOR $1,100,000
That’s a $120,000 increase from our original $980,000 midpoint appraisal, following a $30,000 investment in improvements.
Why the right advice matters
This is something we work with homeowners on regularly.
Not every renovation or improvement will add the same amount of value, and it’s easy to spend money on things that buyers may not necessarily pay more for.
With more than 10 years’ experience in the building and construction industry, followed by 10 years in real estate, Justin understands both sides of the process — what it can cost to improve a property and, importantly, what buyers are actually looking for.
Our job isn’t just to sell your home.
We want to help you make the right decisions before you sell, so you can put your money into the improvements that have the potential to make the biggest difference.
Thinking of selling?
If you’re wondering whether you should sell now, renovate first, or simply make a few improvements before going to market, give Justin a call.
We’re happy to walk through your property, identify where we believe you can add value and give you an honest opinion on what is , and isn’t , worth spending money on.
