One of the biggest questions we get asked when working with home sellers is,
“What do I need to do in order to get the most money when I sell?”
We wanted to walk you through how our latest client invested around $22,000 into rehabbing their home before listing, which resulted into a $79,000 profit!
However, there is a delicate balance when it comes to this concept of rehabbing your home. While you don’t want invest too much, you don’t want to invest in too little and not receive a worthwhile profit. For example, if you were to put in $20,000 but only get $20,000 more when it sells the investment wouldn’t be worth your time and effort.
Here at Maple + Main it’s so important that we bring our knowledge of this Puget Sound market, combine it with our design expertise and make sure we are giving every one of our clients the recipe to a successful sale that yields them the most money possible.
The home is simply another example of how we help put tens of thousands of dollars into our clients pocketbooks.
Brighton Place was a home built in 1990. Although fairly recent, the owner had started updating some trim and the flooring on the main floor. Everything else was the original, so to create more appeal work needed to be done.
To get the home in salable condition the basics of painting, carpet replacement, landscaping and general repairs were a must. If the owner did simply the basics they would be able to list the home for $675,000.
The kitchen and bathrooms all had standard style oak cabinets with formica counters. We determined if they remodeled the kitchen and all 3 bathrooms they would be able to price the home for $725,000 with the chance of having a bidding war over the asking price.
So, what was the result?
Initially, this home could sell for $675,000 without the kitchen and bathroom remodel.
The owners invested $22,231 into the remodel projects making the new minimum listing price $697,231.
However, with these new improvements we listed the home for $735,000 and it sold for $776,000! The owners ultimately made a profit of $78,769. Not too shabby!
Brighton Place is the perfect example of why you should always consult with a top expert in your area before selling your home.
Here at Maple + Main we can help you determine what needs to be done to yield the most money and whether those investments make sense for you.
Of course many factors go into a listing pricing like location and the current market. It doesn’t always make sense to do major repairs like this but maybe just the simple carpet and paint updates. Having the Maple + Main team visit your home before listing it will give you the best opportunity to prepare the home for maximum return.
If you’d like a complimentary consultation, reach out to us by visiting our website maplemain.com.