“One of my friends has bought an old home recently in Tampa, Florida without any knowledge on how to rehab and sell it. House rehabbing is an art and not everyone will excel it. If you are going to invest in real estate market and have decided to buy a house, rehab and sell it for more profit then know the basic guidelines before starting the job” says DC Fawcett Real Estate
Create a well devised plan before rehab!
Before starting the rehab process, have a plan on how to start, do and finish it properly. The property which needs rehab has to be inspected thoroughly. After the inspection, you will come to know what are all the repairs needed, how to start the renovation works and what could be done to enhance the curb appeal of the house. Once you decide what has to be done, you should plan to do it efficiently. Whatever the method you are convenient with you can go ahead with that.
Do it yourself!
DC Fawcett complaints that many investors do not even try to fix simple things in their homes. For instance, there are some jobs which can carried out easily by any owner like painting, fixing the leaky faucets and changing the carpets etc. But for some complex repairs and renovations you need to hire a contractor. The concept is clear, do what you can and leave the rest to professional expert.
Repairs and renovation, plan your budget wisely!
When you decide to rehab the house, make sure that the expenses doesn’t exceed its limit. If the house is for self accommodation then it’s totally up to you to decide on how much you are going to spend on the rehab process. Some buyers might do expensive renovation for their personal use. But if you are buying the home as an investment to sell it later, then plan your budget wisely before the rehab process.
Avoid lavish renovation works!
Don’t go for extensive renovation as they cost you more and also the buyer may not want those works in their house. DC Fawcett complaints that some sellers overprice their house due to these renovations which the buyers don’t care of. At such instances, the sale of your rehabbed house might get delayed and it may sit in market for long period of time. As time passes by, you might have sell the house for low price.
Things to remember before hiring a contractor!
When you decide to hire someone to rehab the house then, finding a professional quality contractor is really important. They can easily make your property as a profitable investment. But you need to spend time on researching for good contractors who can speed up the process.
How to identify the reliable contractor?
DC Fawcett reviews states that you can get references from past clients of the contractors which is the wise method of choosing one. At the same time check whether they have sufficient time to finish on your project. Sometimes they might be too busy to handle your project and delay the process.
Market the home
Last but not least, marketing your home is unavoidable step and this determines the success easily. Take necessary actions like advertising in newspapers, listing in MLS websites etc.