{"id":22054,"date":"2023-04-11T13:08:57","date_gmt":"2023-04-11T13:08:57","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22054"},"modified":"2023-04-11T13:08:58","modified_gmt":"2023-04-11T13:08:58","slug":"this-home-renovation-netted-a-whopping-350-roi-at-sale","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/this-home-renovation-netted-a-whopping-350-roi-at-sale\/","title":{"rendered":"This Home Renovation Netted a Whopping 350% ROI at Sale"},"content":{"rendered":"\n

Presale renovation companies work with real estate professionals to improve a home\u2019s looks in pursuit of turnkey properties that garner top-dollar at resale.<\/p>\n\n\n\n

First impressions matter in any housing market\u2014but all the more so now that home sales are cooling. So, presale renovations may become more commonplace as home buyers, who are already stretching their budgets, seek move-in-ready properties. More renovation companies are partnering with real estate professionals<\/a> to offer this kind of help. The companies work with pros to decide what home updates are needed based on the return on investment, handle the design and renovation work, and offer financing options so homeowners don\u2019t have to pay up front. Owners can use the proceeds from the sale of their property to pay for the remodeling work later on.<\/p>\n\n\n\n

Presale renovations can make hard-to-sell properties more attractive to buyers and boost the final sales price. One case in point: A townhouse in Charlotte, N.C., had not a single cosmetic improvement since it was built in 1999. The home\u2019s cabinets and flooring were outdated, the countertops and bathrooms had old-fashioned tile, most of the appliances and lighting fixtures no longer worked properly and the paint colors did not reflect current trends, says Will Allen, owner of Renovation Sells Charlotte, a home improvement company specializing in presale renovations.<\/p>\n\n\n\n

\u201cIn the current real estate market, it is more important than ever to understand what buyers are looking for,\u201d says Kathryn Heynen, a sales associate at Cottingham Chalk who was the listing agent for the townhome. \u201cAs a seller\u2019s agent, I encourage my clients to get their home as market-ready as possible.\u201d<\/p>\n\n\n\n

Prior to the renovation, the three-bedroom, two-and-a-half bath townhouse was valued at $340,000. Renovation Sells recommended $64,000 in renovations. After the four-week project, the home was listed at $495,000\u2014and in just two days, it sold for $570,000. That\u2019s a 350% ROI on the renovations. \u201cWe\u2019ve been in a killer market,\u201d Allen admits. \u201cBut still, our design team\u2019s vision is what truly made this listing take off. The design brought this listing even more attention.\u201d<\/p>\n\n\n\n

[[slideshow-id:148826]]<\/p>\n\n\n\n

A Hands-Off Renovation Process<\/h4>\n\n\n\n

Renovation Sells met with Heynen and her client during the planning phase to collect input to ensure that they made the most impactful design decisions for ROI while staying on budget. An in-house design team familiar with local trends presented proposed materials, colors and finishes. Once approved by the agent and seller, the firm completed the work.<\/p>\n\n\n\n

The key cosmetic changes prioritized for the townhome centered in the kitchen and bathrooms, which, in general, tend to offer the highest ROI. These also were the most outdated features inside the home, Allen says. \u201cCountertops, cabinet refinishing and backsplash truly made the biggest difference,\u201d he adds. In the owner\u2019s suite, the bathroom also got a refresh with new flooring, paint, lighting and fixtures.<\/p>\n\n\n\n

Allen says his company most commonly recommends upgrades in paint, flooring, the kitchen, bathrooms, landscaping and exterior curb appeal because they tend to generate the biggest ROI.<\/p>\n\n\n\n

Presale renovations could become even more important as the market cools, Allen says. \u201cComing out of a hot market like we\u2019ve been having, agents and sellers are having to shift their expectations. What worked over the past few years\u2014list a home as-is and having it sell the same day above asking price\u2014just won\u2019t cut it with higher interest rates and lower demand. Agents are now educating their sellers that in order to maximize their sales price, they need to make smart updates to get homes Instagram-worthy and move-in-ready.\u201d<\/p>\n\n\n\n

Allen, who has a construction management background and a real estate license, says cosmetic adjustments\u2014big or small\u2014can help generate higher final sales prices. \u201cThere\u2019s nothing I love more than creating a vision for a property and transforming it into something truly beautiful,\u201d Allen says. \u201cAlmost all of our business is working with REALTORS\u00ae and their clients, whether it\u2019s to prepare a listing or make cosmetic changes before the client moves into their new home.\u201d<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

Image by bidvine<\/a> from Pixabay<\/a><\/p>\n\n\n\n

\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

Presale renovation companies work with real estate professionals to improve a home\u2019s looks in pursuit of turnkey properties that garner top-dollar at resale. First impressions matter in any housing market\u2014but all the more so now that home sales are cooling. So, presale renovations may become more commonplace as home buyers, who are already stretching their … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-22054","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nThis Home Renovation Netted a Whopping 350% ROI at Sale - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/this-home-renovation-netted-a-whopping-350-roi-at-sale\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/this-home-renovation-netted-a-whopping-350-roi-at-sale\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/this-home-renovation-netted-a-whopping-350-roi-at-sale\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"This Home Renovation Netted a Whopping 350% ROI at Sale\",\"datePublished\":\"2023-04-11T13:08:57+00:00\",\"dateModified\":\"2023-04-11T13:08:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/this-home-renovation-netted-a-whopping-350-roi-at-sale\\\/\"},\"wordCount\":691,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/this-home-renovation-netted-a-whopping-350-roi-at-sale\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/builder-3546203_1280-1024x682.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/this-home-renovation-netted-a-whopping-350-roi-at-sale\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/this-home-renovation-netted-a-whopping-350-roi-at-sale\\\/\",\"name\":\"This Home Renovation Netted a Whopping 350% ROI at Sale - 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