Not all renovation projects need to take months to complete and cost an exorbitant amount of money. In fact, a fast renovation project is a perfect way to maximize your revenue potential on both rental properties and for-sale properties. A few simple upgrades can make all the difference. The Revive Renovations team recently undertook a renovation project in Watertown with a short timeframe and a concentrated budget. The goal: increasing the sale price of this 5 bed, 2 bath condo. How did they get it done? Here’s a breakdown of the renovation.
The Project:
Our clients had owned their condo for many years and were ready to make their next move. Their agent, Charlesgate Realty Group’s Kim Miles, suggested investing in some pointed remodeling to meet buyer expectations and maximize the sale price.
Our challenge – make marked improvements to the condo with a fast turn around and minimal investment to maximize the sale price.
The Details:
It’s no secret that investing in a good paint job is a great way to maximize your home’s showing potential. For this renovation, we painted the majority of the home in a neutral, but warm off white to present a ‘clean slate’ to prospective buyers and also maximize the natural light coming into the space.
The kitchen is such an important room in any home. In fact, it’s one of the first places potential buyers look at when exploring available homes for sale. Kim advised our clients that based on the market comparables, to maximize the sale price on the property, buyers would expect a fresher, more updated kitchen. Of course, budget is always a factor, so the trick was to find the best balance of aesthetics and price for the optimal value. We accomplished this by painting the existing cabinetry with a fresh coat of white paint. We replaced the sink with a more modern undermounted square sink and we replaced the laminate countertops with a light grey quartz. Finally, we replaced outdated appliances with new stainless steel models.
Renovating during COVID – 19 presented a few logistical challenges in keeping a tight schedule and adhering to best practices and regulations for social distancing. However, our team was able to get this entire renovation done in just 13 days for $18,000. An incredible turnaround and an overall fantastic result: multiple offers over asking! Take a look at the before and after!
Before:
After:
