$22,000 Rehab = $79,000 Profit!

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

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. 

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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!  

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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.

How to Add Value to Your Home Before Listing

We all have our own personal style, especially when it comes to decorating our home. Selling our home becomes a different story as you need to change your perspective from having your space with the character of your daily life to the perspective of the eye’s of the buyer.

Our eyes tend to work from the ground up and this reflects to the eye’s of the potential buyers when looking for work needed to be done on any home.

There are three areas to a home that show the most wear and tear but are also the easiest improvements:

  • Flooring

  • Wall treatments/Paint

  • Staging

Flooring -

Both carpet and hardwood floors show where the high-traffic areas are in your home. Whether the hardwood is more faded (from lots of sun or people exposure) or the carpet is more matted or discolored, the potential new home buyers will immediately notice.

Refinished or repurposed hardwoods, new carpet, or a professional carpet cleaning, will add thousands of dollars of value to your home. The floors will appear seamless, clean and up-to-date focusing the buyer’s eyes elsewhere, which you want to do!

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Wall Treatments -

Take a look at your home’s walls and notice the condition of what they are in along with what is currently on them. Are all walls painted or is wallpaper or a different texture in the mix? Are there chips, scratches, finger prints, dirt on the walls? Most likely you’ll need at least a fresh coat of paint. A simple, inexpensive solution that will end up adding to the value of your home with little cost to you. The walls are your home’s canvas and will be easy to tell if they’ve been updated.

Doors of any kind are important to consider as well. In the home above, we simply painted the wood closet doors white and it made a world of a difference to lighten up the space and blend together with the walls rather than be the room’s focal point.

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Staging -

Staging is a unique aspect Maple & Main focuses on as we not only want to help you sell your home, but create a home and space that fits your lifestyle and a potential buyer’s. The design behind the staging is what will make the difference of not just selling a home but making sure it is the best fit, not to mention quickly!

When setting up your home the key objective is to simplify your spaces. Too much furniture or decor makes a space look smaller than it really is and takes away from beautiful features of the structure of the home. Clean lines and no clutter is the goal.

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The above three improvements may be $5,000 — $10,000 of an investment but will add tens of thousands to your home when selling.

Happy fun fixer-upping!!

Style & Design Tips: New Homeowners

 
 

Intimidating is an understatement when you think of moving from a 500 sq. ft. apartment to then transitioning into a two-story home.

Let's talk style and design.

In styling an open living space, we were able to select rather large, statement furniture pieces. If you’ve ever lived in a large city where you search high and low for the smallest couch or the smallest chair the store has, this room is the exact opposite and gives you an endless amount of options when it comes to styling it. Who doesn’t love a good sectional? We’ve selected this custom sectional as most couch buyers don’t realize often times you can customize the look and style of your sectional if you have the time and patience to wait for it, otherwise what’s in stock could be fine as well. Adding accent chairs and ottomans is an excellent option too, as seen in this example.

This is the exciting debate with new homeowners as the decision is ultimately up to YOU.

With open concept rooms it’s important you define the space and have a set intention where you place each piece of furniture or decor as it allows the space to take its own shape. With hardwood floors, adding a large area rug to the space pulls the room together making it feel complete and homey.

Appliances, though not really decor, are often added immediately as they are part of our every day world. However, keeping them as neat and clean like a piece of art is just as important. Cords, gaming systems, DVDs, CDs, you name it, aren’t very cute to show off and would be better placed in storage elsewhere.

On the contrary artwork is extremely acceptable to showoff so putting a piece on an open wall could be a nice finishing touch to a room or even a mirror strategically placed to make a room feel larger.

Color is a key aspect that really finishes off a space. Where you put your color is where the eye will be drawn so a safe bet is to keep furniture pieces neutral so you can add color with pillows, plants and artwork and interchange as frequently as you’d like. Greenery is always good to implement not only because plants are beautiful but because they help clean your air making your home feel fresh and not stuffy.

Need some more inspiration? Check out these links to some of my favorite area rugs and pillows:

west elm

west elm

CB2

CB2

west elm

west elm

CB2

CB2

Target

Target

anthropologie

anthropologie

Target

Target

anthropologie

anthropologie