Alexandria is located in one of the best zip codes in the city, but was severely neglected for years. It’s a 1990s build, so it had a lackluster kitchen space, tall ceilings, and all of the bedrooms on the second floor. In order to get top price for this house and compete with all of the other investors in this area, it really had to have a truly unique design that this neighborhood has never seen. This investor brought on REI Studio to craft a totally unique and inviting home that would grab buyers’ attention the moment they walked in the door.
Case Study
Alexandria Drive
Purchase Price: $355,000
Rehab Cost: $110,000
Sale Price: $590,000
Days on Market: 4
Area Avg D.O.M. 96
Design services for this project included:
- Full project interior design including lighting fixtures, plumbing fixtures, flooring, paint colors, millwork, countertops, cabinetry, vanities, hardware, etc.
- Full project exterior design including doors, paint colors, hardware, lighting fixtures, roofing style and color, etc.
- Sourcing over 200 material items and building a 12-page finish schedule to reflect all choices approved by the investor.
Total Design Cost: $3,000
Flat-rate Pricing
Results
By properly researching the ARV of the neighborhood and the design trends that sat stagnant on the market, REI Studio was able to create a truly unique, Transitional design that was completely different than anything else the neighborhood had seen. With a product that was unlike anything else available for sale, this investor was able to call Highest and Best after just two days on the market, ultimately accepting an offer $15,000 over asking price, with multiple other competing offers.
- Properly assessing neighborhood trends to craft the perfect design that would stand out against competitors
- Beating the average days on market by 24x
- Closing the home at $15,000 over-asking price with multiple competing offers
“I think what ultimately sets this house apart is the design. This area traditionally sees modern homes that feel cold and stale. The Transitional design on this home really makes it stand out against the competition. It feels like a warm hug when you walk in the door.”
Contractor
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