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Seller couldn’t predict the future – Buyers rejoice

What, you can’t predict the future?

Many home owners move into their new home and begin to improve it to their liking with no thought of ever selling. As a result some of the upgrades especially when you get into the ultra high end can get lost on  a prospective buyer who doesn’t see the value and is just not willing to pay for it.

Of course, there comes a point when a home owner even with one eye on eventual resale value is willing to pay for the added enjoyment of said upgrade for the balance of time they will live in the home knowing they will realize only a fraction of the cost of the upgrade when they go to sell.

What a joy it is for a buyer to stumble upon such a home, especially when the upgrades align with their likes and lifestyle. In what sometimes feels like a morass of over priced, inadequately maintained and cheaply done cosmetic upgrades such a property stands out the minute you drive up to the place. You know what I’m talking about. Chances are you’ve been lucky enough or know of someone who was lucky enough to buy such a home. The, “I knew it was the one the minute I walked in” statement that makes you boil with envy if you are still in the trenches as a buyer looking for such a place and coming up empty.

A home can look better on a piece of paper or on the internet with correctly lit photos and a wide angle lens leaving you disappointed as you drive away feeling like you were somehow tricked into thinking it was going to be better than it turned out to be. Like the gorgeous flower arrangement that you bend down to smell only to find it was a brilliant display of artificial flower craftsmanship.

Conversely, the same often happens with the home described above but in reverse. You walk in and begin to see the attention to detail and extras that didn’t immediately pop into mind as you looked over the listing details. Add to that the fact that there is only so much room for details on a listing sheet so many of them never get mentioned at all.

Sometimes I’m fortunate enough to get an opportunity to sell one of these homes and the following is an example of one such home.

The owners bought this modern bungalow with a walk out basement and five bedrooms with no thought of moving shortly after renovations would be completed. But that is life, unpredictable at times.

The features that made them fall in love with the place to begin with included a large lot with plenty of room for a shop to the East of the triple garage and within a twenty minute drive from Edmonton’s West End. The wide open spaces, quiet and gorgeous vistas of acreage living coupled with the conveniences of a newer home aligned perfectly with their exodus from the busy city life. Although they have a young child now the convenience of being within walking distance with no major roads to cross, of the highly acclaimed Graminia Elementary School was an added bonus. Underlying all of this was a desire to raise their son in a safe community where he could flourish unfettered.  Other things about the home the

y soon found that validated their decision to buy included a concrete parking pad in front of the triple garage, concrete sidewalks leading to the front steps, a concrete patio accessed from the walk out basement’s patio door and city water trucked in from Devon which is about two and a half times cheaper than what they were paying for water in the city and almost five and a half times cheaper than friends of theirs pay North West of the city.

But back to the theme of this article. They soon began to make changes to the home and as I said, with no thought of selling in the near future. Whether you read the following list or not it will give you the idea that when this seller does something he goes all in. With the initial acquisition costs added to the additional upgrades the number is much higher than what they are currently asking for the place without even taking into account that the market as a whole has come up since they purchased. The equates to real value for you the buyer.
 

 

 

 

Kevin Grenier Realty Executives Poliaris

 

1.       Painting entire house 11 different colors (professionally done) 

2.       Electrical work                                                                                                  

    a.       Includes adding more plugs and switches in garage

     b.      2 ceiling fans

     c.       3 X 4’ T8 overhead lights

     d.      Black lights

     e.      Plugs for all the Neon signs (which neon signs won’t be staying)

     f.        Re-doing the entire basement to meet code (as the Reno’s were happening found out that whoever ran the electrical before, screwed into wires and had the entire basement only on 3 circuits, highly illegal)

     g.       Added a surge protector that is the high one that can be reset multiple times. Cause the cheap once it has been tripped it has to be completely changed out.

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     h.      Re-did all the pot lights and added more. These are all enclosed lights as per code due to the insulating the ceiling.

     i.       Added sensor switches to mudroom, walk-in closet, pantry

     j.      Added over the tub light in guest bathroom main floor and in basement bathroom

     k.       Added in two night lights one in hallway and one in master bathroom

     l.         Pre-wire in garage under stairs for future expansion to shop. 220 wire. Either add in an electrical box in garage or enough length to take it to new location for shop.

3.       Reno’s included are the following:                                                          

     a.       Change out the direction of the walk-in closet

     b.      Added a door to the master bedroom bathroom

     c.       Added more storage to the basement

Kevin Grenier Realty Executives Polaris (18)

     d.      Converted the 5th bedroom in basement to the gym

     e.      Custom flooring for the gym

     f.        Added the French doors in basement

     g.       Added second direction to steps in the garage. (original direction was not the easiest to use)

     h.      Re-tiled the steps in the garage

      i.         Changed out the carpet leading down into the basement. Original did not match anything in the house. Re-used the carpet from the renovation in the gym area.

      j.        Added the boarder in the garage

     k.       Re-did the basement ceiling added in safe and sound with sound bar in entire basement. So new drywall, insulation, re-textured ceiling and painted ceiling       

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4.       Paved Driveway                                                                                               

     a.       Driveway was widened &  is average 6” thick with 4” of gravel underneath

     b.      Plus had the driveway sealed after it was put in 

5.       Custom closet organizer in mudroom and in master bedroom     

6.       Planted 130 trees in yard( spruce and pine)                                         

7.       Complete wiring in house for matrix system                                        

     a.       Includes wiring for all TV locations

     b.      Includes ceiling speakers in basement (6 in total). Which includes custom boxes in ceiling and each box insulated.

     c.       Each TV area wired for internet and Cat 8 etc…

     d.      Wired basement for future projection screen

     e.      Complete sound system wiring in garage. 2 speakers have not been installed but wires are in walls in ceiling area to expand if needed. Never had the chance to add the speakers in, have the speakers.

8.       Added Heat in Garage and Central Air Conditioning                          

9.       Dog run

For more details on this home or to book an appointment to view it contact:

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Kevin Grenier Realty Executives Polaris at kevin@kevingrenier.com or 780-893-0269.

 

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