How minor fix-ups added $250k to this home’s sale price

How minor fix-ups added $250k to this home’s sale price

20 February 2017 by Tim Neary 2 comments

The benefit of property presentation in achieving a higher price has been proven once again, this time by a boutique agency in Sydney’s north shore.

Savills Cordeau Marshall took a tired 1950s home in St Ives, gave it a facelift and sold it for $1.655 million, $250,000 more than a similar property on the same street. 

The property had cluttered interiors with dated furniture and decor, including retro wallpaper, conflicting colour palettes and worn carpets. 

The exterior also presented poorly, with worn and dirty paint and cladding, grime-covered tiles and an overgrown garden. 

Savills Cordeau Marshall director Craig Marshall said the property clearly needed work. 

“The vendor, however, was under time pressure, and so had little time and insufficient budget to undertake major improvements,” Mr Marshall said.

“We made suggestions regarding some minor renovations and presentation enhancements. And then supervised the project, utilising our exclusive stylist and network of trade professionals.”

The work included decluttering and painting the interior, laying a new carpet and painting the kitchen cabinets. The exterior was cleaned and painted, and the garden was trimmed.

After 18 days on the market, the property sold at auction.

Mr Marshall said first impressions count and a property’s presentation is critical to attracting the maximum number of buyers.

“Not just to view your home, but to fall in love with it,” he said.

“In this case, we respected the vendor’s budget and the critical thing was to ensure that the enhancements made were in the right areas – those that would be valued most by the target buyer and highlight the property’s best features.”

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