Craig and I thoroughly enjoy remodeling homes for resale. The properties we choose are loaded with potential especially if they have been neglected. It is tempting to pull out all the stops and transform each home into a dream house. Budget? Pshaw!
Thankfully, we have a system in place to keep from overdoing it. Before we purchase a property to remodel, we have already decided 1) what rooms to rehab and 2) the extent of the rehab.
Rooms to Rehab:
The process of deciding whether or not to remodel a specific room depends largely its current condition. We ask questions like:
Are there wood floors under that carpet?
Are the kitchen cabinets salvageable?
Is that a load bearing wall?
Extent of Rehab
The extent to which we rehab a home depends largely on its neighborhood. We always plan to be the nicest house in our price range but not excessively so. The MLS has a wealth of information about real estate neighborhoods. So we put on our sleuthing hats and scope out River Heights.
We investigate similar homes that have sold recently as well as homes currently on the market in the neighborhood. Pictures on the MLS listings offer information such as:
What type of countertops are in the kitchens of this neighborhood?
Are the shower walls tile or a plastic surround?
Does it have a garage?
After we “Nancy Drew” the remodel project, we practice self-control. A kitchen can still be beautiful without granite counters. It allows us to keep the price of certain homes within reach of more families.
Sleuth and budget. Works every time.