SCENARIO:
This much-loved property was called ‘home’ by the same family for decades. But, having just begun construction on their dream home, it was time to let this one go.
CHALLENGES
- Construction Delays: The construction on their dream home was lagging behind schedule so we would have to figure out a closing date that didn’t leave anyone inconvenienced.
- Buyer Confidence: In the months leading up to this home being listed, the market experienced tremendous growth and anaemic inventory levels. The frenzied pace of the market was all over the media and there was an immense amount of pressure on the government to act – which they did by introducing the Fair Housing Plan. During this time, many buyers had decided to step away from the market as talk of a real estate “bubble” spread.
- Timing: With so many moving parts, out of our control, we would have to keep a watchful eye on all of it. We had to juggle the changing market, home construction, and the seller’s needs, in order to have a successful sale that left everyone happy.
- Family Home: The property belonged to the same family for a number of years. So, there was an inevitable accumulation of items, and memorabilia, around the property. The family would have to work tirelessly to de-clutter, and empty out items in the home.
RESULT:
Sold! In fact, our sale of this property set a new record…the highest price EVER for a detached bungalow in the area (TREB MLS District E03: East York).
HOW WE DID IT
Before: The dining room was in need of some modern, and bright touches.
After: Our talented staging team brought in larger artwork, and de-cluttered the space. Ultimately, making the room appear more spacious to potential buyers.
Before: The bedroom was lovingly decorated, but may not have appealed to everyone’s taste.
After: Cozy finishes, bright accents, and a more neutral paint colour, gave the room a broader appeal.
Before: Although cozy, the furniture was oversized, and left the space looking crowded.
After: We brought in modern furniture, with sleek touches that made the space appear larger.
Before: The large armoire in the master bedroom was a little too much for this room
After: Our stagers brought in new bedding and removed the armoire…which gave this room new life.
Before: The basement was being used for storage, but we knew the space had more potential…
After: Bright artwork, and cozy accents, turned this space into a lovely family room.
INSIDE SCOOP
Construction on the seller’s home was taking longer than expected. To ensure our clients wouldn’t be left out in the cold, we ended up negotiating a leaseback that allowed our clients to stay in the home after the closing date. Aaaand we managed to get the highest price EVER for a detached bungalow, in the E03 area!*
*as per Toronto Real Estate Board statistics, as of date of sale.
