I recently had the pleasure of styling a home for a client who didn’t have a lot of experience buying and selling houses. They were quite nervous about the process, and wanted to make it as easy as possible. They selected a basic styling package where they used mostly their own furniture, and we added a few smaller pieces, like coffee and side tables, we then added the finishing touches with the accessories and re-arranged some of the furniture to maximise the layout.The home owners were a bit jaded with the Real Estate industry in general. Their journey of finding a new home had taken them 6 long months. Searching for properties, making offers and getting rejected, until they secured their new home. Needless to say, their confidence was shaken. They turned to us for advice and guidance, knowing we would tell them the truth about what was needed to sell their home quickly.
What changes did we make?
They did an amazing job of preparing the home. We helped paint over a few bright feature walls to bring in more neutral tones. They thoroughly cleaned the house, including the grout in the tiles (professionally) and added some new blinds where necessary.
Decluttering was also one of the keys to the bold transformation that took place. They really took our advice with what should stay and what should go. The kid’s toys were a tough one, but when they did remove most of the toys the kid’s didn’t seem to miss them. And they actually wanted to keep their rooms tidy as they loved the new look so much!
The agent initially valued the home at $480,000. The client and the bank were happy with this valuation, as this gave them enough to buy their dream home in another suburb closer to their kid’s school.
However, after the styling was completed the agent was very pleasantly surprised. The new valuation was now somewhere in the vicinity of $520,000.
As you can imagine, the owners were excited about this new valuation, but knew that the market was slow and it ultimately comes down to finding a buyer.
The property hit the market mid-week, and by the weekend they had several offers and had accepted one above the $520K price point. They exchanged contracts at $522,000 early the following week, and the sale is now unconditional.
Their investment in styling was a total of $1,600.
The uplift to the value of their home was $42,000
That’s a return on their investment of 2600%. Yes, you read that right, it’s 26 times their initial investment.
This was an amazing result, and we don’t always see these kinds of returns. But they do happen, and it’s awesome to be a part of.
The property market is interesting at the moment, as prices have been dropping for quite some time. But there’s some light appearing at the end of the tunnel. With the election done and dusted, we hope to see some confidence return to the market. Interest rates have been cut further, helping to bring confidence back to the market. The banks have also started to loosen their lending reigns slightly, and I think this will continue through to the end of the year.
I believe this property hit the market at the perfect time, and the vendors were realistic about their expectations. Together with the presentation of the property, it was the perfect storm!
Thinking of selling?
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