By: Colin Godbout
As we find ourselves spending significantly more time at home while we work to flatten the curve of COVID 19, many people are turning to home renovations to pass the time.
In that same spirit, Properly decided to showcase one of its recently completed renovation projects as inspiration.
This suburban Calgary home boasted many expensive upgrades like a new roof and all new windows, but from a design perspective, it looked like it belonged in 1994. When the owners decided to relocate to another neighbourhood to be closer to the family, they spoke to several real estate brokerages before reaching out to Properly to complete the sale.
The house is a two-storey suburban family home in a quiet cul-de-sac. It features approximately 2,475 square feet of finished living space on three levels. The previous owners had completed some renovations, including new windows and a new roof in the last few years. The interior, however, was stuck in 1994 and needed some aesthetic upgrades.
When we took possession of the home, it had the original hardwood flooring, two different vintages of carpet, six different paint colours and “farmhouse chic” wallpaper accents.
We decided to make several high impact changes to make the home move-in ready and take that burden away from the new owners. We leveraged our experience from over 100 residential preparation projects to select upgrades and materials that would appeal to the market.
Over two weeks, Properly completed the following upgrades:
i) replaced the carpets throughout
ii) refinished the hardwood floors
iii) updated all of the switches and plugs
iv) completed some general maintenance and
v) repainted all of the walls, including inside the closets where people often cut corners.
These strategic upgrades changed the first impression of this home from a dated 90’s house in need of a renovation to a turn-key modern family home. The work cost just over $15,000 over two weeks.
- Paint – $5,500
- Hardwood refinishing – $4,400
- Misc repairs – $850
- Carpet replacement – $4,600
Take-away: High impact home improvements don’t have to have high price tags.
The final step we took to improve the marketability of the home was to include staging. We stage over 95% of the homes we bring to the market, and we have measured significant increases in resale value and faster selling times as a result. The house was listed on a Friday morning at $434,900 and was conditionally sold, with multiple offers that afternoon for $440,000, $5,000 over list price.
You can see a full comparison versus the Douglasdale Community below, at the time of sale:
|Days On Market||% of Listings that Sell||Sold-to-List Price %|
|Douglasdale Community Average||48||56%||95.9%|
|This Home w/ Properly Polish||1||100%||101.2%|
Are you interested in selling your home this spring? Take the first step and check your home’s current value, as well as the possible value with upgrades and repairs.
Interested in buying a home? Browse real estate listings now.