Taking Advatage of a Homes Special Good Features
16 Aug“Special Good” features help us overcome shifting market trends
John and Cheryl’s home was in pretty much original condition besides the high-end kitchen appliances. John worked for SubZero so they were able to trick out their kitchen with Wolf and SubZero appliances and three $8,000 wine coolers. These features are what we call “Special Good” and they help a home reach top dollar.
In this particular un-gated Grayhawk community, it is unlikely to find a home with top of the line appliances which have a similar effect as a gazebo, casita or 4 car garages. At that time, the real estate market began to shift towards greatly favoring single level over two story homes which would be a knock against John and Cheryl’s home.
Upgrades and Return
Strategic upgrades in key rooms such as kitchen and bathrooms were necessary to get top dollar and a quick sale. We minimized the most undesirable original features in the home by replacing the kitchen and wet bar countertops, flooring in all of the bathrooms and added cabinet hardware for the extra pop. $15-20K was invested and the owners gained $50-55K which is around a 3 to 1 return.
The more you take off of a buyer’s plate in the right places the better.