Dalkeith Case Study
What to do with a block value property? Invest wisely in your property presentation.
Two things can happen, the developer will pay the premium or it will be sold to a new family that loves the older style cottages
Unfortunately in this case the vendor’s expectation on price didn’t match the current market conditions and therefore the 3Ps of selling are out of balance.
BUT WAIT there is a happy ending. The vendors are happy to re-tenant at the end of the sales campaign and know that they are likely to get an additional $600 per week.
When we commenced this makeover the vendors knew that they may need to rent the property for a few more years, due to their unrealistic price expectations, but were happy to try the sales route first.
Spruce Ups provided an Investor Report and managed the makeover. We provided creative and cost effective great solutions to some challenging and unappealing areas in the property especially around the disconnection between kitchen and the dining area.
A New Look
Hire furniture for property styling for sale adds value and provides a return on investment.
- Pre-makeover appraisal $1.9-2.1M
- Investment by Owner $30,000 - 35,000
- Time to Complete - 3 weeks
- Rental Increase - from $1000 to $1600 pw
- 60% Increase in weekly rental income
- Yearly income increase by an additional $30,000