Have you ever wondered if the effort and money invested in renovating a property would truly pay off? Mark Trafford, a property trader in Auckland, and one of the Managing Directors of MTP Renovations, decided to take the plunge when he came across a three-bedroom home on Aeroview Drive, Beach Haven. This property had been struggling to find a buyer for eight long months, primarily due to structural and maintenance issues. However, Mark saw potential where others saw problems, and what happened next is a testament to the belief that renovating is worth every cent.
A Property in Despair
When he first laid eyes on the house on Aeroview Drive, it had already faced numerous setbacks in the real estate market. Multiple contracts had fallen through, and potential buyers were deterred by the property’s structural concerns, including cladding and a retaining wall issue. Additionally, stringent bank finance requirements made it difficult for first-time homebuyers to secure financing for the property.
The house had experienced several price drops, but Mark believed he could turn it around. He purchased the property for $600,000 in cash and embarked on a renovation journey that would ultimately change its destiny.
A Transformation Worthy of Investment
Mark’s company, MTP Renovations and Maintenance, took on the challenge of transforming the neglected property. With an additional investment of $120,000, they addressed the property maintenance issues, kitchen renovation, and bathroom renovation, laid new flooring, and revitalized both the interiors and exteriors. The house was given a fresh lease on life, and its value began to soar.
One of the key advantages of the Aeroview Drive project was that it didn’t require resource consent, which often add significant costs and delays to renovation projects. Mark’s ability to move quickly and efficiently was a game-changer in this endeavour.
A Quick Turnaround
In August, after the renovation was complete, Mark put the house back on the market with Harcourts agent Terry Connell once again leading the listing. This time, the property attracted significant attention, and Mark decided to bring forward the auction.
While it’s possible that the house could have fetched an even higher price, Mark made a strategic decision to capitalize on a quick profit in what he perceived as a slower market. This decision proved to be a wise one.
The Perfect Buyer
The buyer who ultimately sealed the deal was looking for a move-in-ready property without the hassle of maintenance. Connell noted that Mark’s renovation work was nothing short of exceptional. Potential buyers walked in and were immediately struck by the fact that they wouldn’t need to do anything – all the work had been expertly done.
This transformation turned the property from one that required significant upkeep to one that felt like a dream home, ready for immediate occupancy. In areas like Beach Haven and Birkdale, where buyers often seek the “Kiwiana dream home,” Mark’s renovation efforts struck a chord with those who craved beauty and convenience.
Mark Trafford’s success story in Beach Haven highlights the value of investing in property renovation. His willingness to take on a challenging project and transform it into a highly desirable home underscores the idea that renovating is indeed worth every cent. It’s a reminder that with vision, dedication, and the right approach, you can turn a property’s fortunes around and reap the rewards. So, if you’re considering a renovation project, take inspiration from this tale of triumph and remember that the moral of the story is clear: renovating is worth every cent!