This 1920’s tri-level house was completely gutted by fire and was red-tagged afterwards. This restoration project was funded by insurance policy proceeds and exceeded one million dollars in work. The results were transformative, with the owner deciding to remove a wall between the kitchen and dining room to create a sightline to the new, large glassed French doors at the rear where the completely rebuilt deck was.
Coast replaced the large deck, added a bathroom on the center floor (where before there was none), and upgraded the other bathrooms and kitchen appliances and layout to be far more modern and contemporary.
Much of the built-in cabinetry (there was a tax on furniture at the time that builders used as a reason to build in storage and cabinetry as a sales gimmick that supposedly reduced taxes) was removed and the interior simplified while retaining the curved corners in the ceilings and curved archways between main floor rooms.
Upon completion of the work, the sale of this house brought double the value predicted by Zillow on the house (pre-loss value – Zillow didn’t know about the fire), proving what we have seen repeatedly: There is a strong market for completely rebuilt houses that have “new everything” in established neighborhoods. “Used” houses are very available, but redone legacy buildings are quite scarce. People will pay a premium to obtain a house that has been brought up to current building codes with new materials throughout.
We tell customers who ask: “Your house will never fetch more than it will when just completed. Consider whether you want to move back in or adopt a business-minded approach to your real-estate investment.” There are plenty of other houses for sale, and putting an upgraded kitchen and bath into your house can return a multiple of your personal money investment if you do intend to sell. Ask us about this! We’re always happy to talk about what has worked for others.
