I planned on it being done sooner. I planned on it being done cheaper. I planned a lot of things, but things don't always turn out as planned.
At the outset of the project I was going for a $30,000 rehab budget and a 6ish week turnaround.
At a certain point I decided to change course and shoot for bigger numbers.
Instead of painting over the fake wood paneling and leaving the drop ceiling, I dry walled all the ceilings and walls. The wood floor wasn't worth salvaging so I tiled over every square foot of the place with wood-look tile. Even though I got a good deal on the tile itself, the amount of time it takes to lay an entire house with tile adds on significant labor costs. I went with paint grade, real wood cabinets, granite counter tops and stainless steel appliances. New central AC, tank-less water heater, 2 bathroom remodels, etc.
$90,000 purchase price.
With the original $30,000 budget, my estimated after repair value was $160,000. Rehab costs ended up a little under $50,000 and took 12 weeks. The property appraised for $195,000. It was a gamble, but at the end of the day I think it was money well spent.
Your website is really cool and this is a great inspiring article. Thank you so much.
ReplyDeleteRemodelação
No doubt it will be very useful for my future projects. Would like to see some other posts on the same subject!
ReplyDeleteLavender and Refinement
It is critical for professional water damage restoration techs to start work immediately, every minute can make the difference on whether we can save your beautiful hardwood floors or if they need to be ripped out and replaced.flooded basement repair in Great Falls Virginia
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