Appraisal Success: How Strategic Home Buying and Remodeling Can Boost Your Investment

I'm thrilled to share some exciting news! My buyer's home appraisal came in higher than the purchase price today—a rare and fantastic outcome. The goal was always to "buy right," and it's great to see that effort pay off with $30K equity to start!

Typically, home appraisals come in at or below the asking price. Our strategy was to find a home where my clients could make strategic repairs and remodeling choices to increase resale value. This property will serve as a "stop-gap" home for them over the next couple of years while they secure permits to buy land and build their dream home. They didn't want to spend too much on this interim property, including purchase and repair costs.

The home does need some work, but my clients are planning to invest wisely in remodeling and repairs with the goal of selling it for a profit in the future.

Finding the right home took us a month and 11 viewings in the golf community they desired. We submitted three offers, facing stiff competition, including one cash buyer. Despite the challenges, we identified a property that fit their price range perfectly. It had been on the market for a while and had recently undergone a price reduction, which indicated strong seller motivation. Although the seller initially refused repairs at our offer price, we successfully negotiated some concessions after thorough inspections.

With closing just a few weeks away, my clients are excited to begin their next chapter of remodeling.

Are you interested in building equity in a property or leveraging real estate to create a home you love while positioning it for resale? Real estate can be a powerful tool for growing your finances. Feel free to reach out to me, and let’s discuss your options!