Let’s break it down: Tarek and Christina originally paid $675,000 for the four-bedroom, three-bath home. Because the entire pool and deck needed to be refinished, and Christina (of course) decided to use the finest finishes, renovation costs ballooned to $145,000. That brings their profit to $94,900 after closing costs—not too shabby! (Although it could have been $154,000 if they’d sold it for the original asking price.)
“The bigger the house, the bigger the expense; but it also has potential for a bigger profit,” Tarek says.
So what does the house look like now that it’s been redone from floor to ceiling?
The duo painted the exterior an understated gray and white, but went all out on the door and front porch, using designer tiles on the walkway and putting in an elegant front door with leaded glass.
Inside, the dated split-level entry was transformed into an elegant foyer, complete with herringbone-patterned wood flooring and modern metal railings between the levels.
They knocked down all the walls between the dining room, living room, and kitchen on the main level. That gave the home a wide-open floor plan, with natural light from windows on three sides.
In case you’re thinking Christina and Tarek misjudged the market, or got a little too fancy-schmancy for their own hood, know this: The median price per square foot in the area is about $396, while the El Moussas’ spacious makeover is priced at $345. And we’d be willing to bet the new finishes on this “Flip or Flop” special are far above the median.
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