Over the years, our team has helped a multitude of clients reach their property goals through minor home renovation and inexpensive cosmetic upgrades. The most rewarding stories are when we get to combine our eye for interior design, a bit of elbow grease, and some staging magic to help our clients receive a substantial return on their property. Below is one of those renovation success stories!
The owners of 3718 N Albina reached out to our team for assistance with a home improvement project as a last hurrah for their time in Portland. After hearing about us from a mutual friend, they were interested in our team’s input on a flip they were planning for their longtime property. Our listing agents, Jeff and John, met them at their property and quickly saw the home’s possibilities – great location, high ceilings, hardwood floors, backyard potential. After the walkthrough, our listing team worked together to compile a list of home maintenance suggestions based on the home owner’s listing timeline and budget. To our excitement, the homeowners used our suggestions as a kick-off point for the project!
What was renovated?
Throughout the renovation our team worked as consultants for the homeowners, providing contractor recommendations and design input. Over the span of 7 months, the owner’s completed a kitchen remodel, roof repair, gutter repair, and foundation work. They painted the entire home, finished the molding, updated the electrical and lighting. They even transformed the backyard into an outdoor living space by converting a parking pad into a patio and adding landscaping. In total, the renovation cost the owners approximately $30,000 and over half a year of work.
In February, we were ready to list! Our team chose a listing price of $374,900, knowing this price would encourage competitive offers based on a comparative market analysis of the home. Staged and freshly renovated, the home went live on a Friday and by Monday it was under contract $85,100 over asking price! Throughout the weekend our team worked tirelessly to promote the property. Our listing agents negotiated 12 offers until finally landing on the best options for our sellers. The final sale price for the home was $460,000, 22% above the original list price, leaving our sellers with a project ROI of $55,100! By investing a little time, money, and elbow grease our sellers were able to increase the value of their home and settle securely into their next chapter in Washington.