For this project in Bentleigh in Melbourne’s south-east, we worked with owners who had inherited a dated two-bedroom property that they wanted to sell. They recognised that the home would sell for less than its potential in as-is condition, but given their limited renovation experience, they weren’t sure where to start on improving it. They also didn’t have access to funds to pay for a renovation.
The owners engaged Kudo Homes to help them with expert advice on renovating for profit and styling to sell. They opted to use our ‘renovate now, pay later’ model, which allowed them to make $36,000 worth of improvements with nothing to pay until the property settled.
Our proposal focused on small changes that would have a big impact. The owners had a limited budget and wanted to list the property for sale ASAP, so we looked for ways to elevate the home quickly and at low cost.
This minor renovation was complete within two weeks, with nothing for the owners to do. Because they wanted to sell as quickly and painlessly as possible, we helped them to stage the property for sale to ensure the renovation was complemented by stylish modern interiors.
Fresh paint and floors
The transformative power of a fresh coat of paint is well known. We painted the interior to freshen and brighten the property and repolished the existing timber floors. A neutral colour scheme created a sense of space and provided a fresh canvas for the furniture staging, which really elevated and modernised the property.
We refreshed and tidied up the front and back yards of the property, removing rubbish, trimming back mature trees and replacing overgrown garden beds with new borders and fresh mulch.
While furniture staging is an additional cost at an already-expensive time, it’s been proven to seriously boost the sale price of homes. At Kudo Homes, we believe that staging your home is an investment that’s guaranteed to deliver far more than it costs. We helped these owners to create a sense of life in a vacant property and draw attention to its features while downplaying its shortcomings.
Kudo Homes was able to renovate and style the property to achieve a sale price of $888,000 – $163,000 more than the top of CoreLogic’s estimated value range. We achieved this result within two weeks with a budget of $36,000, and nothing for the owners to pay until settlement.