From Deferred Maintenance to a $90K+ Boost 🏡💪

Hello Friends,

When the owners of a property they had lived in for nearly 25 years approached me about selling their home, they faced a challenge. The house had some deferred maintenance issues, and they were concerned about how it would impact the selling price. Without any updates, the home would have been priced around $400,000. However, with a smart investment of $30,000, we were able to transform the home and list it for $495.000.

PRICING STRATEGY

We evaluated three pricing strategies:

1. As-Is Price: Listing the home without making any updates, likely resulting in a sale around $400,000.

2. Key Components Update Price: Focusing on essential updates that give the home a polished feel without unnecessary remodeling. Key components like the roof, interior/exterior paint, carpet, some lighting, and landscaping would make the home more marketable and competitive. Likely resulting in a sale for 450k-500k.

3. Premium Price: Along with all the key component updates (#2), this would involve a complete remodel (new kitchen, bathrooms, windows, upgraded flooring, etc.). Likely resulting in a sale from 525k-550k.

The sellers opted for the second approach—addressing key components. By focusing on what matters most to buyers—like the roof, paint, and carpet—we significantly increased the home’s market value without overspending.

THE TRANSFORMATION

Here’s how we used the $30,000 budget to create a big impact:

• New Roof ($12,000): A brand-new roof gave buyers confidence they wouldn’t have to face a major expense anytime soon.

• Exterior Painting ($4,000): A fresh coat of paint instantly boosted curb appeal, making the home look more inviting.

• Interior Painting ($6,000): Neutral tones throughout created a clean, updated canvas, appealing to a broad range of buyers.

• New Cabinet Hardware ($175): A simple but effective update in the kitchen modernized the space without a full remodel.

• Updated Appliances ($500): Upgrading a couple of key appliances added a fresh touch and reinforced the move-in-ready feel.

• Landscaping ($1,200): Basic landscaping tidied up the front yard, enhancing the home’s first impression.

• New Carpet ($5,000): Replacing the worn-out carpet transformed the interior, giving the home a fresh, clean feel throughout.

THE RESULTS

The transformation paid off. After the upgrades, we listed the home for $495,000 and sold it for $493,000—an impressive $93,000 above the as-is price.

By investing $30,000 strategically, the homeowners saw a significant return on their investment, and the house showed beautifully after staging. This success story shows that even homes with deferred maintenance can become top performers in the market with the right approach.

If you’re thinking about selling and want to maximize your home’s potential, reach out to me. Together, we can create your own success story.

Thanks,
Scott Lowe
Grey Rock Realty
(970) 412-8551
Scott@greyrockrealty.com