Learn how Team Steele helped a seller to maximize the return on their investment with the sale of this $2,299,000 home in Pacific Beach.
Team Steele was approached by an investor who had acquired a property at auction in Pacific Beach, only a block from the water. The property was a single family, three bedroom, 2.5 bathroom home at 2,050 sq ft, and was in need of updates and someone with the vision to bring the home back to its full potential. The investor was not local to the area and reached out to our team in order to gain insight on the current local market, our thoughts on value, and support in taking the finished product to market.
With homes that need updating, it’s always important to be conscious of budget and prioritize the seller’s bottom line and best interests. With our guidance, the goal for this home was to maximize the value of the property and return on investment, while minimizing the costs for the renovation. Based on our extensive market knowledge and experience selling homes, we were able to advise our client on the important projects that were going to have the biggest impact on their sale and avoid spending time, money and energy in areas that were not going to be beneficial or lucrative.
For example, we suggested the sellers invest in major ticket items like landscaping, replacing all the flooring, and repainting the entire interior of the home. However, we suggested leaving the cabinets, countertops, and backsplash as-is, because we didn’t think it would make them as much money as it would cost to do those renovations. We also made suggestions for lower-cost improvements that tend to make a big impact, like replacing light fixtures, removing window coverings, adding or repairing closet doors, and re-caulking bathroom areas and kitchen counters.
