20 Farmcote Road
This unique bungalow on a quiet tree-lined street belonged to the same family for decades. With the children grown and long moved out they knew it was time to sell.
A changing demographic in the neighbourhood resulted in a transition from buyers looking for move-in ready homes to builders wanting properties to re-develop. We understood this, and didn’t want this home to be looked at as a tear-down. So, with a generous amount of help from our clients, we gave the home the modern touch to show buyers its move-in ready potential!
While similar homes in the area had drastically reduced their prices from $1,300,000- $1,400,000 we were able to sell for $1,525,000…and with a firm offer and a closing date that worked for our clients.
How We Did It
Living Room: Before
Living Room: After
Having lived in the home for decades, it was inevitable that the owners collected a vast number of items and family memorabilia. The family worked tirelessly to update, de-clutter and sort though it.
- Renovations: We had to determine what modern updates would yield the best return on investment, and ensure changes were done properly to restore the home.
- Flooring: The carpet throughout the main floor was worn out. Luckily we discovered hardwood beneath the carpet that was still in great shape.
- Yard Work: There were beautiful gardens in the front and back of the home, and we wanted them to show at their best.
- Lot Size: The final challenge we came into was that the home sat on an irregular reverse pie-shaped lot. This didn’t appeal to many buyers, builders, and investors because the shape was seen as seen as having bad feng shui, increased building costs (with renovations), and more yard maintenance.
The Inside Scoop
- Market Changes: In the weeks leading up to the sale, the market was shifting dramatically. Comparable homes sold within the $1,300,000 to $1,400,000 range and we felt pressure to follow-suit by lowering our price. However, we believed this home offered more compared to others in the area.
- Renovations: After a staging consultation, it was clear what needed to be done to give the home a fresh look. We brought in flooring contractors to remove the carpet and expose the original hardwood floors underneath, we re-painted, landscaped the front and back yards and brought in some modern furniture to complete its new look.
- Communication is Key: The work didn’t end with the renovations! While the home was on the market, we had constant communication with our clients to discuss pricing strategies in a changing market.
Hear It From Them
“When the time came to sell our family home of fifty-seven years, we met with several agents in order find someone who had a sympathetic yet realistic vision for the property, a flare for marketing, and a fierce commitment to secure the best outcome.
From the very start, Sohail impressed us as a person with tremendous energy and integrity, a solid knowledge and genuine enthusiasm for the real estate market, and a very easy-going yet thoroughly engaged style. We never regretted our decision to work with him.” Linda Eerme (home owner)
Questions? Lets talk!