Located on the same street as Leafield #1, this property had to be differentiated from its neighbor just around the corner, all while having the exact same layout and structure. These homes had to be different but comparable in design, achieve a similar sales price, and not compete with buyers but give them options. To achieve this, this investor brought on REI Studio to create two unique designs that stood out from each other and stood out from the competition.
Case Study
Leafield #2
Purchase Price: $285,000
Rehab Cost: $135,000
Sale Price: $580,000
Days on Market: 33
Area Avg D.O.M. 64
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.
- 3D Renderings of the exterior, kitchen, and all bathrooms.
- Full 2D Floor Plan redesign with an RCP lighting plan.
Total Design Cost: $2,913.75
Flat-rate Pricing
Results
Since Leafield #1 and Leafield #2 were flipped by the same investor, we were presented with the challenge of creating two unique designs that would complement each other, not compete, but still be different enough that they would attract different buyers. We decided the best approach would be to lean towards darker tones, add in exterior wood accents, and make a statement with black countertops and reeded tile in the kitchen. The result: beating the average DOM by almost 50% and selling 5% higher than expected.
- Created a unique design that didn’t compete with Leafield #1
- Beat the average days on market by almost 50%
- Sold the house for 5% over the expected sales price when the investor first purchased the property
“Creating two completely different designs with the same home was really challenging, but REI Studio really did a fantastic job.”
Investor
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