For those regularly browsing through local real estate listings, a 35-year old, two-bedroom Box Hill townhouse wouldn’t usually attract more than a quick glance. It doesn’t often excite real estate agents either.

But every house has its day. And for one particular townhouse, it couldn’t have come at a more important time in the life of the owner who was planning his transition into aged care.

After the client engaged Tower to help facilitate his property sale, we invited two real estate agents to submit initial marketing proposals for the property. Both were aligned in their assessment of value for the property… a value that we felt was understated due to the way the property was currently being presented. The client understood our concern but was unable to raise any funds to support work to modernise the property.

It’s exactly this type of scenario where the value of Tower shines through. Our team got to work, obtaining quotes and providing the client with the $9,600 he needed for painting, repairs, cleaning, gardening and professional staging. Tower also provided further funding to help arrange the packing, removal and storage of goods for the client.

In the space of just a few weeks, Tower seamlessly project managed the improvements and the property was ready for its first open home. It was marketed for sale by auction and quickly drew attention. The open homes were extremely well attended, with buyers commenting on the light, open and fresh appeal of the property achieved by the contemporary updates and expert styling.

Despite one of the worst days for an auction in 2019, around 40 people braved the blizzard-like conditions to gather inside and listen to the auctioneer expertly ply his craft. With seven bidders submitting a total of 100 bids for the property, the reserve was eventually exceeded by a huge 18.4%. It was the talk of the neighbourhood. Not only did this easily cover the costs of the renovations, but it secured the client the aged care lifestyle he’d long sought after, worry free and with money left to spare.

Phil Hoopmann, Tower’s Senior Property Manager, was extremely proud of this transformation.

“The result proves there’s extra value to be had in most properties. It just takes experience to identify where that value is and how to realise it quickly and economically. When that extra value secures a comfortable lifestyle for someone in care, then it’s especially worthwhile.”