Ann Shi Redevelopment

reSpace-as-a-Service Proposal

Transform your property into a high-performing asset and a new custom home

through our patent-pending reSpace model.



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Summary

1

Your Vision, Delivered

After reviewing your drawings showing us the vision for your property, we believe we can deliver the new custom home you want and update and sell the front home to help fund its construction.

2

Build First, Sell Second

Your new home will be built first. Once you move in, we update and sell the front home, using the sale proceeds to pay down your existing loan and substantially reduce the remaining loan balance.

3

reSpace as a Service

We manage feasibility, design, permitting, construction, and the sale of the front home through one coordinated process that reduces your involvement and risk.

4

Build Cost to Value

The project to build your new home and update the front is estimated to cost approximately $510,000. After light updates, the front home is expected to sell for approximately $750,000.

5

Improved Net Worth

Your current equity in the front home is about $275,000. After the transition to your new custom home, your equity rises to roughly $400,000.

6

Your Style, Your Selections

You select all materials, fixtures, and finishes that match your style and reflect the standard of high quality you’d expect in new construction.

Lower Monthly Costs

The sale reduces your balance to about $250,000, giving you a new home with a smaller and more manageable loan payment.

Long-Term Value

Modern construction supports better appreciation and lower long-term maintenance.

The Details

Proposal

reSpace will manage your new custom home through our reSpace as a Service model. This includes your new home feasibility, design coordination, permitting, contractor management, construction, and preparation and sale of the front home.

How This Works

You will continue living in the front home during construction, keeping your housing stable and maintaining your current mortgage while the new custom home is built. Once your new home is complete, you move directly into it. We then complete a light update and sell the front home, using the sale proceeds to pay down your existing loan and substantially reduce the remaining loan balance.

Financing

New home and light updates to the existing home is financed through a HELOC or similar homeowner construction loan, of about $510,000.

Build First

reSpace Inc. will manage the project while you remain in the front house and maintain your normal routine.

Move In

Once the new home is complete, you make a single, smooth move directly into it, with no interim housing or disruption.

Sell Second

We complete targeted updates to the front home and bring it to market at an estimated sale price of $750,000.

Reduce Debt

Proceeds from the sale pay off your existing mortgage and significantly reduce your HELOC, leaving you with an estimated long-term balance of approximately $258,000.

Increase Net worth

Your thoughtfully designed new home brings more equity, less debt, and a clearer financial path. The result is a meaningful boost to your net worth, reaching roughly $400,000.

Why This Works

This approach works because it uses the value already in your property to fund the new custom home in a controlled, phased process. By building the new home first and then updating and selling the front home, both parts of your property are optimized for maximum value. The new home is built to modern standards with strong market support, and the front home is refreshed to achieve the best resale outcome. This model is strengthened by reSpace’s decades of experience in infill development and our managed partner network, which allows us to deliver high quality work at an attainable cost while reducing complexity and risk for you.

The Numbers

After the reSpace Plan

More Equity + Less Debt = Clearer Financial Path

New Backyard Home

  • Estimated completed value: $650,000–$675,000
  • Estimated remaining debt: ~$258,000
  • Estimated new net worth: ~$400,000

Estimated Net Worth Boost

~$400,000

The Marketability

Front Home Sale Strength

Recent sales within the 98126 ZIP code and surrounding Westwood–Fauntleroy area show updated 2–3 bedroom homes selling between $700,000 and $850,000, depending on condition and curb appeal. Your front home is well positioned within this range. Light, targeted updates materially improve buyer interest, shorten days-on-market, and help achieve a sale price near $750,000.

New Custom Home Valuation

Newly built homes and DADUs in West Seattle consistently appraise between $600,000 and $725,000, with higher valuations for modern finishes, efficient layouts, and private outdoor space. Your planned two-story design aligns closely with what buyers and appraisers reward: new construction, functional layouts, and low-maintenance living. Based on these comparable homes, your completed new home is expected to appraise in the $600,000 to $650,000 range.

Contact reSpace

www.reSpace.co

206-222-6322

123 North 35th Street . Seattle . WA 98103

Confidentiality and Copyright Notice This document and any accompanying materials contain confidential and proprietary information belonging to reSpace Inc. They are provided solely for evaluation and discussion by the intended recipient and may not be copied, shared, or distributed without prior written consent from reSpace Inc. All concepts, structures, and models described herein are the intellectual property of reSpace Inc.

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