Realtor Redux: Our diamond shines bright; light and welcoming
We’re checking in again to see how our diamond in the rough cleaned up. This home has had the same owner since 1955 and was heavily smoked in. Years of wear and tear meant the home needed a deep cleaning and a few choice improvements.
We had a total budget of $5,500 to work with and immediately got to work by removing exterior window awnings, power washing the exterior and repainting porch railing and the front door.
Inside, we took up dark red carpeting to expose the original hardwood floors. While we didn’t have the budget to refinish them, the carpets had protected them, and they appeared in sound condition. We also coated the interior walls with fresh paint and performed a thorough cleaning of the windows.
The entire redux process took 10 days, and we managed to stay within our budget. In the end, we sold the home for $115,000 more than the trustee was about to sell the home to a neighbor for.
We listed the home and procured 11 offers in 5 days on the market. The home sold for $11,000 over asking price, and the buyer purchased it entirely as-is for $540,500. For a $5,500 initial investment this seller got a return of over $100,000 net.