How Smart Repairs Netted One Seller an Extra $136,000

I have a story I wanted to share about just how valuable the right upgrades can be when you sell your home. One of our clients earned over $100,000 more on their home sale thanks to the right renovations.

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Today I wanted to share a story about a client who had questions for us about the best way to make upgrades to their property. More specifically, they wanted to know what would give them the biggest bang for their buck.

A couple of months ago, some sellers who lived in the middle of Virginia approached me about selling their property for the most money possible. I visited the home and saw that it was pretty distressed and in need of a lot of repairs. I was able to recommend my contractor, and in six weeks, we put the property into a really nice, marketable condition.

We redid the bathrooms, kitchen, and finished the basement to take this property from probably only being able to sell for $320,000 to getting $456,000 for it. 
The client spent $40,000 on renovations and netted an extra $136,000 on their home sale.
The best part is that they only put in $40,000 for repairs! It's a great example of the money you can get in return with the right repairs.

If you're in the market to possibly sell your home but you don't have the resources to make the kind of repairs that will net you more money, I'd love to have a conversation with you. We have any tool you could possibly need when it comes to renovations and repairs.

Just give me a call or send me an email soon. I look forward to helping you!

The Top 3 Challenges Buyers Face When Buying a Home

Given how competitive our current market is, today I wanted to lay out the three biggest challenges buyers face and how they can overcome them.

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What are the three biggest challenges buyers face when it comes to buying a home in our current market? Today I’m joined by Anthony Howard, one of our top buyer’s agents, to answer that question.

The first challenge is writing an offer that gets accepted. The impulse for most buyers is to try to get some kind of discounted price or lowball their initial offer, which is understandable. However, the average list-to-sales price ratio here in the Fairfax County area is 98.2%, which means our market is extremely competitive and you should always write a strong offer.
Always write a strong offer.
The second challenge is adjusting your expectations. Buyers can have very specific needs when it comes to their new home, and this can lead to having a hard time adjusting to what the market actually has available. Most of the time, you will have to either adjust the type of home that you want or alter your preferred price. It’s also possible that you will have to adjust your preferred living location.

The third and final challenge is navigating and winning a multiple offer situation. This correlates strongly with the first challenge in that the key to coming out on top is writing a strong, full-priced offer right out of the gate.

If you’re in the market to buy a home, sell a home, or invest in other real estate, feel free to give us a call or email me directly. We’d be glad to help!