A golden opportunity in Golden Hills: Can we stay under budget and on-schedule?

A golden opportunity in Golden Hills: Can we stay under budget and on-schedule?

At Bobbett and Associates, we do all we can to help our clients see the highest return on their investments, and we do so by advising them on key improvements they can make upon listing their home that enable us to ask a higher asking price than we might otherwise be able to.

Our latest renovation project is an exciting one. We were called by an out-of-area property owner who was looking to sell a very special house – a property in the Golden Hills neighborhood that’s been in the same family since it was built in 1956.

The home was in need of some strategic improvements to ensure we would be able to maximize the current market value. With a firm budget of $10,000 or less, and with a 12-day timeframe to complete the upgrades, we certainly have our work cut out for us!

We are in the process of completing the following improvements:

  • Refinishing the beautiful original hardwood floors throughout
  • Full interior painting, including painting of the original kitchen cabinets (this is a fantastic way to update a kitchen without spending a lot of money, we’ll finish the cabinets off with new hinges and hardware as well)
  • New tile floor in master bathroom
  • Various handyman fixes from plumbing to electrical as needed
  • Light landscape clean-up in the backyard and removal of an old metal patio cover

Once these projects wrap, the final steps will be a full house cleaning and then home staging by Martina (a complimentary service provided by Bobbett & Associates). A professional shoot with a real estate photographer will allow us to show off our beautifully updated home in the best possible light.

Without the improvements, the home would likely sell at $625,000 or less. But with a strategic budget of $10,000, we hope to get well over $720,000 for the home, in other words, a net gain of $85,000 to our home seller!

We can’t wait to show off the huge improvements at this house when we go to market in a few short weeks. Stay tuned for an update on how everything turns out.

What's it like to work with Fullerton Realtors at Bobbett and Associates? View video testimonial

We interviewed other Realtors before we went with James and Martina. We were very pleased with how they worked with us in terms of getting our home prepped for the market and the photography we used. ... With the house on the market, it sold in seven days. We got over our asking price for the house and then we were able to get ready to move to our new beginnings.

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Bobbett & Associates: All spruced up after strategic improvements make best use of seller’s budget

Bobbett & Associates: All spruced up after strategic improvements make best use of seller’s budget

As our clients’ advisors and support, we make every effort to guide home sellers toward home improvement projects that will add value to their home and maximize their sales price.

Our latest project property had been a rental for many years and was in dire need of some TLC, and we were faced with some large home improvement chores.

We oversaw every aspect of this renovation project on behalf of our out-of-state seller: new roofing, permitting, landscape clean-up, interior painting, hardwood refinishing and a variety of repairs and updates throughout the home, primarily kitchen and bathrooms

Because this house required some big-ticket fix-it items, our costs turned out to be higher than usual at $28,000, with the final cost for improvements coming in slightly higher than the $25,000 budget we initially estimated.

Half of our budget went to the new roof, which is not a common improvement for most home sellers before selling their home. But the roof on this home was the original 50-plus-year-old wood shake roof. It had to go!

Two other items on our wish list could have used attention, central air conditioning and updated windows. In a perfect world, the home would have already had central air and updated windows making the property more comparable to others in its price range. We advised our seller to skip these projects however, because it would have been difficult to recoup the additional out-of-pocket expense and we wanted to ensure we could maximize resale value for our seller.

Our out-of-state seller was thrilled to see the massive improvements and the higher sales price. She loved how we strategically and logically made the best use of her budget by making repairs and updates that were the most cost effective. Once the home improvement tasks were completed, we turned our attention to developing an effective home staging strategy to ensure the house made a positive impression on prospective homebuyers.

As we’ve noted before, a beautifully staged home can make such a strong impression on would-be homebuyers, they may wind up offering above asking price.

In the end, our home improvement advice and home staging efforts on behalf of this lovely homeowner and house in Fullerton paid off. The house sold for $115,000 more than the sitting tenant had offered the owner.

Home improvement advice and project management, as well as the home staging services, were inclusive and at no additional cost to the seller – just part of what distinguishes Bobbett & Associates from ordinary Realtors® – truly FULL service real estate representation.

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