Will a remodel make a difference when selling?

This one’s for the realtors (or financial institutions with properties to sell)…

Say you have a residential property that you’re selling for an investor – the investor has made it clear that they want to move it fast. You can price it low and try to push it that way or have you thought about suggesting to the owner that investing a little more money in a renovation might help you not only sell it quicker but for a profit instead of a loss? We work with many financial institutions and often get called to provide a renovation analysis — working with small budgets and short turnaround times has saved our clients from suffering a loss and turned them a profit instead.

So often it’s the little things…

-We know that kitchens and bathrooms are eye candy and seeing one less major project can seal the deal for the potential buyer.

-Maybe an addition was added and that addition has different siding than the rest of the house? Convincing your client to finish the siding might be well worth the expense.

-How about previous water damage where the root cause was fixed but a stain still remains? A little paint or patchwork can take a ‘red flag’ and make it a ‘green light’!

-How’s the landscape? Is there a retaining wall that is compromised? How about some woody shrubs that have grown out of control? Investing in some of these projects, that are minor to you but major to someone else, can make all the difference.

-Is there mold on the North side of the house? How about recommending a power wash?

These are just a few examples that can make all the difference between sitting on a property for months, or even years, to moving it in weeks. It doesn’t always work that fast, with many other obvious variables to consider, but we know from experience that if you can convince your clients to invest and you have the right design and construction team(s) in place that can provide that quick turnaround on the work and adhere to a tight budget…it’s money in the bank and a win/win as the buyer will have a move in ready house!

Interested in Planning, Investments or Construction in the RI Real Estate Market?  Let’s have coffee!

Craig DiPetrillo – 401.232-7552 – info@DiPetrilloProperties.com

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