Year: Fall 2023
Location: 2nd District of Budapest
Size: 60 sqm
Investment: 1.5 million HUF
Time Invested: 2 days
Sold: Within 3 days
Sale Price Compared to Expected: +30%
Sale Price: 95 million HUF
The Apartment
Located in the 2nd district, on Marcibányi Square, behind the Mammut shopping center, in a superb Buda hub, yet tucked away, this apartment features its own garden area, terrace, and stunningly and exceptionally renovated interior with a soaring 4-meter ceiling height.
Story
A young child was born, so the young couple opted for a move to a suburban house. Their apartment remained empty for about a year, as it had grown so dear to their hearts, but eventually, they decided to sell it in hopes of furthering their future.
They had purchased the apartment several years ago in a completely dilapidated state, so they carried out a comprehensive renovation, introducing a new heating system, installing elegant custom-made wooden windows, laying high-quality ceramic tiles, and laying down high-quality oak parquet flooring.
Last spring, after they moved out, an acquaintance in real estate listed it in its post-move condition (as shown in the pictures below) for 73 million HUF, a price considered high for the area, but aside from a few calls from real estate agents, there was little interest... The owner was very disappointed that their much-loved and carefully renovated apartment was not appreciated, yet it still bore the marks of life with a young child. Consequently, success eluded them.
As fall approached, the need to sell became more urgent, although unfortunately, this period was not optimal for presenting and selling a property with a garden connection. Meanwhile, property prices were rapidly escalating.
At this point, the owner mentioned that their dream price was 80 million HUF, but they would be satisfied if it sold for 75 million HUF. They sought our assistance in managing the entire preparation and sales process.
Before:
Works
We began working on the apartment. We had the loose furniture doors repaired, thoroughly cleaned, moved out any remaining belongings, requested a complete cleaning paint job, replaced the sink in the bathroom, changed all light fixtures to stylish lamps, styled the bed and bedroom, set up a cozy dinner setting, and created a spot for morning coffee on the garden terrace. We added decorations, subtly creating atmosphere.
Our photographer captured moments of the spacious feeling, we edited a location video, and published a shareable website. We crafted targeted ad copy and activated online advertising.
Sales Process
We scheduled 7-7 viewings over 2 days, with visitors arriving hourly, on a weekday and a weekend day, allowing everyone ample time to inspect the property.
The phone was constantly ringing. One lady, although she had called the day after the ad appeared, could only come in the 2nd session. Location was most important to her. On that day alone, we received several other offers, so the apartment was able to sell for the price we calculated, 95 million HUF. This amount was significantly higher than what the owner expected!
After:
Lesson Learned
The apartment must be prepared for sale so that the buyer can see the opportunities and benefits it offers.
As a seller, it's not worth waiting. With each passing month, property prices may rise, increasing the expected requirements and tension. As a buyer, it's also worth being prepared and ready to seize the right home as soon as it becomes available.
In this project, the most enjoyable aspect was that although we handled the preparation, advertising, and reception of visitors from start to finish, there was wonderful harmony between the owner and the buyer when they finally met. Moreover, the relationship with the buyer has remained almost friendly since then. Everyone is satisfied, everyone got what they wanted, and more!
After all, we're not trying to force four walls on someone; we're creating a hassle-free, immediately move-in-ready Dream Home for them!