The Property Brothers Reveal the Secret to Knocking $50K Off a Home’s Price

    HGTV

    “Property Brothers” stars Jonathan and Drew Scott are no strangers to negotiating. But can they persuade sellers to knock at least $50,000 off the price of their home?

    First up, the backstory: In the episode titled “Nutty and Proud,” the brothers work with Justin and Becky, a couple in Ontario who have been living in a buddy’s basement for far too long. Justin loves to entertain, which means his pals are constantly taking over the couple’s small pad, leaving Becky little space for quiet and contemplation.

    Complicating things further is the couple’s daughter, Della. She’s still an infant, but she’s soon going to need space to toddle around, and there’s not much place to play in their basement abode.

    So the Scott twins get cracking on finding this family new digs—and impart plenty of real estate wisdom in the process. Here’s what we learned this week.

    property brothers
    Becky and Justin need out of their cramped apartment.

    HGTV

    Leverage the home inspection

    The brothers find the couple a home that’s full of potential, with 1,800 square feet, three bedrooms, and even a garage that Jonathan promises can be converted into a luxurious master suite. There’s just one problem: It’s listed at $899,900. With a $950,000 total budget, there isn’t much money left over for renovations.

    The solution? Before they even make the sellers an offer, Drew calls on a home inspector to investigate the house for flaws that could persuade the sellers to lower their price. And the inspector finds plenty! From HVAC issues to serious asbestos abatement, much must be fixed, and the inspection report is just what Drew needs to take the couple’s offer of $840,000 to the owners.

    It’s almost a $60,000 price difference, and the sellers balk just a bit. They counter at $842,500, which suits Becky and Justin just fine. They’re left with $107,500 to make some major changes! Phew.

    Lowering a floor is easier than raising a roof

    The garage has master suite potential, but the ceiling may end up a bit low: 7.5 feet versus the traditional 8 feet. Justin ponders if they should raise the roof to gain some height. But Jonathan advises against it: Substantial exterior changes require permits and could extend the renovation timeline by as much as three months. Instead, the couple opt to hire a crew to jackhammer the concrete floor to lower it. It adds an extra $6,000 to their renovation budget.

    Property Brothers
    The garage becomes a true master suite, with a level floor.

    HGTV

    Make space for your mudroom

    Justin’s entertainment dreams mean he’s aching for a big kitchen with bi-fold doors that open to the yard, extending the party outward. Becky’s on board, with just one, tiny exception. She and baby Della drop in to visit Jonathan without Justin so she can advocate for stealing a little bit of kitchen space to make their mudroom bigger.

    The way she sees it, they’ll need the space for all of their outdoor gear (This is Canada! People ski!) and Della’s things. So Jonathan moves a wall to make the mudroom bigger, and the final reveal proves it was worth it, even if Justin lost a tiny bit of kitchen space. With the washer and dryer in the mudroom, it’s a place where the parents of a growing child are bound to spend a lot of time in the coming years, and room to move around will prove invaluable.

    Prepare for late deliveries

    Jonathan promised a seven-week turnaround for the renovations, but as move-in day draws closer, he has bad news. The bi-fold doors that Justin hoped would complete his dream entertaining space are delayed. The manufacturer says they’re a week behind, but Jonathan says a week can easily turn into two, or three, or even more with manufacturers.

    Jonathan can, however, put in a French-style door that opens in the middle, like a bi-fold. It won’t offer the accordion style and it will cut the opening by several feet, but it can be acquired and installed in time for the couple’s planned move.

    Becky and Justin consider it, but Justin has been talking about the bi-fold door for a long time. He has his heart set on it, and he’s not ready to compromise. They opt to wait it out—and wait they do. Jonathan’s warning that manufacturer estimates are often wrong proves true, and the door doesn’t arrive for nearly a month.

    Property Brothers
    Justin has his heart set on bi-fold doors in the kitchen.

    HGTV

    Do the Jonathan and Drew deliver?

    Due to the waylaid bi-fold doors, the couple have to adjust their move-in date. But once they do get into their new home, they have exactly the doors—and entertaining space—they’ve always wanted. Being flexible was worth it!

    The post The Property Brothers Reveal the Secret to Knocking $50K Off a Home’s Price appeared first on Real Estate News & Insights | realtor.com®.

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