Many of the homes I work with in Colleyville, Southlake and Keller were built in the 1990’s in the style popular at that time. Does this sound familiar? Copious wood trim and cabinetry, multiple flooring choices (even within one room!), and the unholy trinity of cranberry, sage and gold were frequent choices for North Texas homes. Chances are you or the previous owner of your home have worked very hard to update your home away from this look.
Buyers moving into our area are now seeking a finished look incorporating “light and bright” looks. They imagine they will be getting a “deal” in Texas and that the home they buy will not need any updating. Shouldn’t a million dollars in Texas get you a perfectly updated space?
Turns out it does not. At least not here. While the 2021 real estate market saw multiple offers and over list sale prices, an updated home resulted in less time on market and a higher sale price. Thirty years ago, our parents could put a “For Sale” yard in the yard with their homes in “as is” condition. No one expected more. Unfortunately, this is no longer the case. If your home has not been updated to the prevailing look, it can result in a longer time on market, and a lower sale price. When you have adequate equity in your home, renovating just to sell your home can be a wise idea.
This seller was looking at such a situation in the challenging COVID year of 2020. To get top dollar for their home, the kitchen, fireplace, and downstairs flooring needed to be updated. They decided they wanted the prize of a quick sale at list price. Looking at a large dollar investment, they turned to me for advice on finishes that would appeal to 85% of buyers but were also easy on the wallet.
I went to work selecting materials that would appeal to many. A look too “designer-y” is not called for in this scenario. What is the #1 ice cream flavor? Vanilla.
The 2-level island was unified to counter level, the countertop was replaced with leathered granite, and the backsplash replaced with a soft neutral porcelain subway tile. Painting the cabinets and adding and new cabinet pulls completed the project.
The family room also got some attention. The old built in was removed to make way for a buyer’s flat screen, the fireplace was refaced with new tile and mantle, and the flooring was updated. I selected a new transitional rug to pull together the new family room and it was time for real estate photography.
Was it fun for the sellers to live through? No. Did they receive the prize they sought? Yes! They had 4 over list offers during the first 3 days on the market and happily accepted an offer at 110% of list.
It took me 20 hours of design time to consult with my clients, select and present material choices, communicate with contractors, and advise on issues as they arose. The client paid me $4500 for this service. They say I saved them time, money, and mistakes!
“We brought Ann in to help renovate our house for sale. Wow! What a job! We had 3 over asking price offers on the first weekend! She obviously knows what buyers are looking for.”
