The cost benefit of repairing the house

There's a gentleman who owns a condo a few doors down from me. For the past 4 months, he's had a crew of up to 5 men working to refurbish that apartment. Knocking out walls, new cabinets, new floor, new appliances... the apartments in this area rent out for $1,650 per month and this one has stood empty for 4.

His reasons for refinishing the condo? To get a better price for it when he puts the condo up for sale at the beginning of Summer. His discovery? He already put more money into refinishing than he'll ever get out of a sale. He now has to make a choice whether to keep the property and try to rent it out, or sell it at a loss from the return he was expecting.We love 'ready-to-move-in' houses, but we also love properties that need complete renovation. Because we deal in so many properties, we're far more efficient and focussed on exactly the work and cost that will bring a direct benefit on the sale or rental of these properties.

If you don't have the time or knowledge to refinish your property with an eye toward higher yield, it may be a wise course to sell as is rather than putting more money into it and possibly losing the extra investment. We're happy to buy it.

If you'd like an honest appraisal on the cost benefit of renovating before selling to CMDI Logic, we'll give you a 'before' and 'estimated after' bid.