WHAT DOES IT TAKE TO REHAB A HOME?
When buying property for rehabilitation, it is important to begin your projects in a particular order. You don’t want to get ahead of yourself or waste time and money on unnecessary jobs. Approach the process systematically, and don’t get frustrated if things don’t go according to plan.
A house rehab is a process of buying a property and restoring and improving upon it. This usually helps boost the property into good, or even superb condition without drastically changing the floor plan.
House flipping is happening again nationally, and Cincinnati neighbourhoods are seeing increased interest from investors. Cincinnati townhouses are on the top of the market for the highest percentage of flips, meaning investors are making a huge return on investment on each flipped property.
Here are some pointers to help you rehabilitate a house.
Demolition and trash removal.
First things first, remove any trash inside and outside the home. Remove any items that are damaged or that you will be replacing (cabinets, flooring, light fixtures, toilets, appliances, water heaters, etc.) Outside work may include trimming any dead trees or bushes and removing fencing, decks, sheds, and siding.
Fix roofing or foundation issues.
If the property needs roofing work, this should be done before you begin working on any of the interior repairs. You do not want any water leaking into the structure. Slab or block-and-beam foundation repairs must be made at this time as well.
Install new doors, windows, and trim.
Once the foundation is finished, focus now on exterior doors and windows. This will safeguard your property from the weather and the intrusion of unwanted animals. New windows and doors will also make the property look more appealing and less like a construction site.
Replace the plumbing and heating, ventilating and air-conditioning system (HVAC). Plumbing repairs may include water heaters, tubs and showers, toilets, and water/gas lines. You may need a new HVAC system or repairs to the existing one. The electrical system can be worked on during this time as well.
(stoves, dishwashers, washing machines, dryers, etc.). New appliances and lighting is a great way to change the look of a property and is relatively inexpensive compared to other repairs.
Add the finishing touches.
Once everything is done, go through and examine all of the work that has been done. Be sure everything works properly and meets your expectations. You may need to touch up paint, clean or stage the property.
Start with the front of the house, obviously, this is what people will see first. Fences, patios, decks, sidewalks, porches, and driveways should be taken care as well. Once those items are finished, add soil for planting flowers, bushes, etc. The backyard should be addressed last.