The Dream

by propertysensei

The dream and the potential, starts now,…

Where do dreams come from? For this specific situation it started with the potential.

During the last 4+ years of being intimately involved in Realestate, and the previous 6 years deeply involved in construction; I have learned so very much about the main things that increase the value of a home, along with the styles the follow.

I swear to you that every Realestate agent and designer will tell you it’s kitchens and bathrooms that sell a home!
That is soo very true, but you cannot hold that true for every house. The layout must be there and the style must fit the home!

There is much to be said if you can save some century old charm in a modernized/contemporary design.
This does get a little tricky when working in the 21st century.

My dream is to keep much of the old charm and open up some of the areas to update the home.
A kitchen with upgraded countertops and appliances.
A bathroom; classic charm with an updated feel.

During my construction years, I bought an interior design program for drawing out plans. It also did a CG layout of what I planned.

So ‘the’ question is: what is the potential of the home we bought?

In the community of mount pleasant, there is a good mix of renovated century homes and many new builds which include infills and duplexes. There are also run down rentals just waiting to be put up for sale for a good price, or knocked down for redevelopment.

The most recent renovated 2 story home that sold, just 2 blocks away, with a smaller sq/ft; sold for $485,000.00
New duplexes are selling on average for $550,000.00 each side and new single detached homes are selling for around the $6-700,000.00 range.
I never mentioned the price at which we bought this lovely home for; hope all of you are sitting down.

$240,000.00

I had 2 bank appraisals done as well for the “as-is” condition prior to clean-up and they both came in at $295,000.00.

The city tax appraisal is sitting at $399,000.00 which is up from 391,000.00 of last year, while 90% of the other communities in Calgary came down in their tax assessment.

From all this you can gauge your own opinion on the potential value of this home.
We have extremely good reason to renovate this home,…. Pure equity!