Home Remodel Rockville, Maryland, Case Study– $121,500 NET Proceeds Increase!
Check out this case study of a home remodel in Rockville, Maryland.
This home was built in 1963 and our client was the son of the deceased owner who had recently inherited the property. The home didn’t have any major updates or renovations during the family’s ownership. The son had lots of decisions to make when it came to the sale of the home. We dive into more details in this home remodel case study in Rockville Maryland.
Would as-is or a renovation make more sense for him to net more money from this family investment in this Rockville, Maryland home remodel??
As we see in many situations, home renovations made complete sense to help this homeowner to NET MORE MONEY at the sale! This particular Rockville home (5 bed, 2.5 bath and around 2800 sq ft) needed some maintenance issues resolved and also needed quite a few cosmetic updates to get it ready for the sale if they were going to list for top dollar.
For this home, a renovation of around $108,500 made the most sense to get that top dollar mark.
Rockville, Maryland Home Remodel SCOPE OF WORK HIGHLIGHTS:
-Paint throughout the home
-Refinished the hardwood floors
-Replace all Carpets
-Entire Kitchen Renovation
-Installed Quartz Countertops
-New Appliances
-Renovated 3 Bathrooms
-New light fixtures and Hardware throughout
-Deck Repair
-Roof Repair
-All exterior trim was painted
-New sliding glass doors installed
PROJECT RESULTS:
As-is Price: $650,000
Renovation (paid by MHP): $108,500
List Price: $849,000
Sold Price: $880,000
Sellers NETTED an Additional $121,500!!!
One of the questions we get asked most often is, how do we decide what type of scope makes the most sense?
Whether it’s a large-scale renovation or light cosmetic refresh, the team at MHP has the knowledge and expertise to help you net more at sale.
Sometimes it’s medium, or, sometimes, larger renovations that make the most sense to help a client NET MORE MONEY at sale. For this Case Study in Rockville Maryland home, a large-scale renovation of $108,500 made the most sense.
Whenever we walk a home where renovations are being considered, we always make sure to talk through everything thoroughly. We also assist with finding areas within the scope of work to save money. We can help by recommending areas where it might make more sense to re-do particular rooms/areas of the home due to the return on investment. It is definitely an individualized process that is very personalized given each home and each individual client.
Check out our “Renovation Knowledge Library,” with a wealth of information to guide you on your renovation project!