Recent renovations paid off for a seller in Celebration. A five bedroom, five bathroom home on Oak Shadows Road just sold for $1.15 million, the 16th sale worth more than $1 million dollars in Celebration this year.
“The home itself was totally renovated from top to bottom, every square inch of it,” said Jimmy Tate, owner of Waypoint Real Estate Group, who represented the sellers. “They went just a little bit more modern or contemporary, a little bit more clean lines, and a little bit more of what people are looking for today.”
ISSA Homes built this home in 2004, and much of Celebration was built in the 1990s and early 2000s. As the homes are getting older, finding a home that is completely renovated is rare, and renovations lead to higher selling prices, Tate told GrowthSpotter.
“Times change and as a buyer, you're watching all these do it yourselves and these HGTV things and you're seeing all the stuff in the magazines and what the newest and latest trends are, and that's what the consumers want,” Tate said. “But when you're coming to a community that can be as old as 20 years old, some of the homes don't have those options.”
This 5,006 square foot home has all the latest options from Electrolux appliances including a double oven and refrigerator, to an under-the-counter microwave, pellet ice maker, and high-end plumbing and fixtures in the bathrooms.
Tate said most buyers in Celebration are putting up to 15 percent of the price they paid into renovations after the sale, but that was not necessary in this case.
“This one was move-in ready. They had replaced the roof, done new exterior paint, interior paint, all of the amenities were updated within the last three or four years, so it was totally move-in ready,” Tate explained. The garage apartment also underwent a recent renovation.
The sellers, John and Kari Rattigan, are staying in the Orlando area and the buyer, Alan Smith, is moving into the home with his family and will be a full-time resident. According to the listing, Gordon Kyle of Regal/Christie’s Real Estate Professionals represented the buyer.
Tate said buyers like Smith appreciate the extra touches, like a huge custom closet in the master suite and kitchen updates.
“When you look at that kitchen, that island is massive, and this is what people really want today,” Tate said. “They're getting away from eat-in spaces in kitchens that are separate and wanting the bigger islands. You can fit 11 barstools around that island and comfortably still 15 to 20 people can be around there for a party, so that's one thing that people absolutely love.”
The outdoor area includes a putting green and a basketball court and has room for the new owners to install personal touches, like an outdoor kitchen. “The backyard pool area was massive and as a very large pool for what you’re used to finding in Celebration,” Tate said. “It really is a blank canvas for someone to come in and make it very special. It has endless possibilities of what it was before and what it can be.”