Case Studies

RECONDITIONED HOMES

Architectural Preparation for Sale

RECONDITIONED HOMES

From eyesore to eyecatcher, this well-located rambler is now poised to command a premium.

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Challenge:

This 1950s rambler had significantly deferred maintenance issues and had become a neighborhood eyesore. The interior needed paint, carpet, and mechanical improvements, while its exterior walkout required new landscaping and decks. Although neglected and outdated, the basic structure was solid. In addition, this home was located on a large lot with a great walkout in a desirable area, making it an excellent investment vehicle in a neighborhood undergoing the early stages of revitalization.
 

Strategy:

The purchase price was at less than land value, making the existing structure essentially free. We knew costs would rise rapidly as the neighborhood entered its revitalization phase and that a full walkout lot would command a premium. However, it was important that we not “over-improve” the house for its anticipated price point.

Our objective was to enhance the home’s value, making its structure and grounds liveable and enjoyable, while preserving the options for full Transformation or Replacement in the future.


Result:

We kept the original character of a 1950s rambler while cosmetically enhancing the interior and adding mechanical improvements. Our primary focus was the exterior and grounds, where we carefully utilized landscaping in such a way as to complement future plans for Transformation or full Replacement. We also added new decks, privacy fencing, driveway, and irrigation system.

Overall, a Reconditioning Strategy made this home a great place to live with investment potential, as well. It will also be highly price competitive when it goes to market.

 

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RECONDITIONED HOMES

Cost-effective improvements made this home a smart buy for the investor-owners.

Challenge:

The clients were investors seeking to improve the property in a cost-effective manner for eventual resale or rental. They had purchased the home with price advantage, and their goal was to make needed improvements to create additional worth and greater perceived value.

The basic floor plan was a center-hall Colonial with ample square footage. However, the poorly-designed kitchen, mudroom, and baths posed a challenge. In addition, the interior looked dated and tired, with a preponderance of honey-stained oak trim, while overall paint and floor surfaces were on the low end of the price/value curve.

Strategy:

We redesigned the kitchen, mudroom, and butler’s pantry; put in a new fireplace surround; redesigned the tile; and re-fixtured the baths. We also added custom cabinetry, granite counter tops, and new appliances to the kitchen. In addition, we repainted the walls, refinished the oak trim, and installed new hardwood floors on the main level and new carpet elsewhere.


Result:

The result was a new look and feel for the home, with modern convenience and floor plan. Because the owners wanted to control expenses, they were delighted by our cost-effective design and our focus on value-leveraging improvements. In addition, our full cost disclosure system empowered them to make informed decisions on various aspects of the project while managing their overall budget.

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MasterWerks LLC is a trade and assumed name of The Replacement Housing Services Consortium, a Minnesota corporation.

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