San Clemente Homeowner Utilizes New Model to Renovate and Sell Home at Higher Price

For most homeowners, the idea of renovating an outdated home in order to sell it for a higher price sounds overwhelming. Enter Renovation Realty, a full service residential renovation contractor and real estate brokerage that homeowners are turning to for help with renovating and quickly selling their homes.

San Diego-based Renovation Realty recently renovated its first San Clemente property, a multi-unit home on Calle Del Comercio. A smaller scale renovation, improvements include new driveway asphalt, replaced garage doors, exterior paint and repaired stucco.

Renovation Realty’s business model is a refreshing solution for many struggling sellers. The company adds monetary value to customer homes by using its own capital to renovate the property before placing it on the market for sale as the listing brokerage. Renovation Realty is reimbursed for its services when it is paid after the sale of the property through escrow. The homeowner never incurs any out of pocket costs in the renovation and sale of the property.

The San Clemente property is unique compared to the usual Renovation Realty client. The owner had originally listed his property as-is during summer and quickly realized the home needed repairs once offers started coming in much below the asking price. The homeowner, a construction contractor, worked with Renovation Realty to hire all the manpower and complete the renovations. Renovation Realty staff provided remodel guidance and brokerage services.

Renovation Realty spent $31,000 in renovations and the home sold for $960,000. The net to seller is $352,000, $61,000 more than pre-renovation estimates. The 2,318 sq. ft. property is zoned for two units, each of which have three bedrooms, two baths and a garage.

For more information, visit www.renovationrealty.com.