Renovation Projects

Renovating distressed properties can be a great way to buy into a higher priced neighborhood that you could not otherwise afford. Many buyers shy away from buying such properties due to the uncertainty of the process and it can feel a bit overwhelming. That said, Harry and I did not start off buying properties that needed such extensive work. Our first home needed a lot of cosmetic work and had been sitting on the market for a long period of time. Therefore, we had a motivated seller and we made an offer that worked for us.

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After purchasing the property, we spent our weekends taking down sparkle pink wallpaper, painting kitchen cabinets along with every other room in the house (it was not a big house). We did ourown landscaping and greatly improved the curb appeal. Over time we added flooring to the basement and turned it into another living space. For projects we couldn’t take on, we hired a contractor to add a deck, and a fenced in backyard. We eventually grew out of our house and were very happy to turn a nice little profit after 4 years in the home. This successful home reno started us on our journey to purchasing homes that inspired very little interest from other buyers.

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Overtime, we have bought homes that required considerably more work. We understand the ins and outs of buying homes that need a lot of updates and we can help advise our clients on some of the do’s and don’ts of the renovation process. Many outdated properties can be overlooked and can be bought at more competitive pricing and should not be passed over during your search. Just like our first property and thus thereafter, a little sweat equity can make a huge
difference in the overall value of your home!