When the housing market started its decline in 2008, the market was absolutely flooded with foreclosures. People that couldn’t afford the payments on their homes were forced to relinquish them to banks and lending agencies – and many of those homes were sold at rock-bottom prices by the financial institutions looking to recoup some of their losses. If you were lucky enough to pick up a bargain foreclosure, you have probably noticed that remodeling a foreclosure has its own challenges and rewards.
While you might have obtained a great deal on your initial foreclosure purchase, there is plenty of work that has to be done on your foreclosure before it is ready to put back on the market or live in. Many foreclosures sat on the market for years before they sold, accumulating major damage over time, and many were relatively dated or difficult to sell because they didn’t fit the neighborhoods that they were in. AGC has worked with hundreds of foreclosed properties to find the best remodeling solutions that add value to the homes and make them livable and ultimately valuable on the real estate market once again.
One of the first things that we do to foreclosed homes is give them a complete exterior overhaul, using cost-effective methods of changing the appearance of the home to give it new life. This often includes repainting the home if necessary, especially if the paint is older or has become damaged due to neglect, and replacing the window treatments and the landscaping features to make the home appear as though it is brand new. Foreclosed homes that have been unoccupied for a long time need to be ‘freshened’ up with style changes and basic maintenance before they are livable again, and this will also show the neighborhood that the home is now being actively improved and maintained and it should renew interest in the area and increase property values for the surrounding homes as well. If you purchased a foreclosure that still has property and garbage left over from the previous owners, we also provide a trash haul off service so you can start over with a fresh canvas.
If only foreclosures were always in good condition, it wouldn’t be necessary to spend so much money on repairs and remodeling after purchasing one. Alas, many foreclosures have great “bones” but are in relatively poor shape inside – especially if the previous tenants damaged the property before moving out, or the appliances were removed in a hap-hazard way that damaged the walls. Our drywall repair crew moves quickly, repairing and replacing drywall as needed before giving the entire house a makeover with new coats of interior paint.
You might choose to paint your foreclosure in neutral colors to appeal to a broader market of buyers, or you could choose bright colors that match your personality and give you the ability to completely personalize your new home. AGC can also provide stucco repair or more involved wall and structure repair as needed.
There are tons of things that you can do to increase the property value of your recently acquired foreclosure. If the home that you purchased is dated or old, granite countertops will revitalize your kitchens at a moderate investment. Door and window replacement will increase the value of the home while boosting its insulation and security, and you can do a full kitchen remodel if you need to substantially increase the value of the home or you want to enlarge the existing kitchen for your growing family. Work with AGC’s network of powerful subcontractors, and anything that you need can be accomplished quickly and professionally.
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