How important are home renovations for selling your property? Here at Fresh Design Blog, we’re intrigued to find out and have asked an expert real estate company for the full lowdown. Even better, if you’re based in the US, they’ll even arrange to do the work for you – it sounds like a win win situation!
When it comes to understanding the value of a property, it is important to understand that it first and foremost, comes from the location. Different neighbourhoods have different starting prices and costs of living, so it makes sense that your area plays a huge role in determining what cost your unit will list for. However, that is not the only factor that you should consider when asking yourself, “What starting price should I sell my condo for?”.
This is where the experts at Maser Condo Sales come in and provide their opinions on how you can increase the value of your condo. When it comes to luxury, this team knows what they are talking about. Maser Condo Sales has looked over 400 renovations for buyers and investors and have many success stories. Whether it be minimal adjustments such as changing the counter tops to a different colour, updating the tiles and flooring, or changing the paint on the walls, these changes make a difference in attracting high-value buyers.
Other times, small adjustments may not be enough, and the team must bring in the big guns with a full renovation, including redesigning the layout, moving walls, adding custom cabinets, new appliances, and more. While it can seem unnecessary, the proof is in the money.
Case Study #1: 733 Marine Street, Santa Monica – Full Renovation
Prior to Maser Condo Sales taking over the project, this Santa Monica unit had a challenging floor plan that needed to be completely redone. The team redesigned the layout of the kitchen and laundry area, as well as created a modern open floor plan which connected the kitchen and living room. They also moved walls, added entirely new lighting, new floors, custom cabinets, installed new doors, added in custom skylights, redid the bathrooms, picked out new fixtures, appliances, and more. These renovations made the space feel brighter and bigger. Alongside handling the actual renovations, the team also took care of all the formal paperwork such as managing the contractors, getting the city permits, HOA, and getting the approval on the permission process. The entire project cost $200,000 to complete and involved three months of work. When it came to making the sale, the unit generated over $200,000 in profit for the client and resulted in a record sale for the entire complex.
Case Study #2: 11910 Mayfield Avenue, Brentwood – Full Renovation
Prior to Brian Maser and the team coming in, this Brentwood property was in terrible condition. It needed a full renovation, so the experts got to work. They started off with opening the walls, and then moved on to designing an entirely new kitchen. This included updating the appliances, adding new lighting throughout the property, and installing new windows and doors. Alongside this, the team also renovated the master bathroom and created new closet spaces, as well as painted the walls. The entire project took 45 days to complete from start to finish, and when it was listed on the market, it only lasted four days. Within those four days, the property sold well over asking, and generated the client $75,000 in profit.
Case Study #3: 12815 Caswell Avenue, Mar Vista – Kitchen and Bathroom Renovation
Now, not all properties need a full renovation. That is why the experts at Maser Condo Sales are careful in their recommendations on what needs to be changed to increase the value of your property and make calculated decisions that will bring you the highest profit for the lowest cost. This property in Mar Vista needed some more minor adjustments, such as changing the countertops in the unit, a fresh coat of paint for the walls, and professional staging. With these minor changes, the total cost for the renovation came out to $40,000. After conducting the renovations, the team then recommended that the property was listed below the market to attract a large number of buyers. The sellers followed each recommendation and listed the property for $929,000. Within just three days, there were 25 offers on the table. The property ended up being sold for $1,290,000, which was $361,000 over asking. For just $40,000, the property increased significantly in value and resulted in a sale that generated a high level of revenue.
These are just some of the properties that Maser Condo Sales has renovated, and there are many more success stories that have come about. Whether it be small or large adjustments, the team knows exactly what needs to get done to increase your condos value. They help turn your space into someone else’s dream space, so that you can get that sale. In real estate, image is everything and looks do matter. So, why not invest in your home, to receive the highest possible return? This is even easier when you don’t have to worry about the details, and let the experts handle what needs to be done. When you work with realtors that care about the outcome, you just can’t go wrong.