Lancaster Home Flip
One of my passions is to take a property which is dated or in distressed condition and turn it into a home which attracts the modern day buyer. In other words, flip a home in Lancaster, turning it into one with quality and durability.
These homes I flip in Lancaster may simply need to have their kitchens and bathrooms updated or may require much more extensive rehabilitation. More extensive rehabilitation includes HVAC upgrades, plumbing replacement, major electrical work, drywall repair and changing the layout of a home.
It is important to know the market and have a realistic budget. There are many homes within Lancaster city which may be purchased for under $100,000 and resold for a realistic profit. Home flipping is still strong in Lancaster.
I recently purchased a home in Lancaster city. This home was in good condition with excellent kitchen cabinets and 4 bedrooms and a bathroom. It had much paneling and many drop ceilings. There was carpet or vinyl flooring on all of the floors and the oil heater was very old. Many of the replacement windows would not remain open and the bathroom was dated with pink ceramic tile on the walls. In order to flip this property for maximum profit these things need to removed, repaired and updated.
My excellent crew of helpers completed the demolition work last week, removing all the paneling, drop ceilings (except in the bathroom and kitchen), carpet and vinyl flooring, wall tile in the bathroom and bathroom vanity, the kitchen countertops and a portion of the kitchen cabinets. A new gas furnace was installed this week by a competent and licensed plumber and the painting of the existing kitchen cabinets has begun. The new drywall was delivered and will be hung when the electrician is able to complete his work.
Planned improvements for this Lancaster home flip project include a new section of base kitchen cabinets in order to accommodate a new dishwasher. A new stove and hood will be purchased and installed and new laminate countertop will be installed. The kitchen cabinets will receive new hardware. A new ceramic tile floor will be placed in the kitchen. The bathroom will retain its bathtub, but will receive a new tile surround, new tile floor, and a new vanity and vanity light. All the windows will be replaced and new plumbing lines will be installed in the basement. Basement walls will be parged and the concrete floor will be painted. The wood floors need to be sanded, stained and coated with polyurethane. All new paint will be applied.
Projected date for completion of the project is end of February.
I will blog a bit more in the future on an interesting experience with the removal of the old furnace and the 50 gallons of oil and work updates.
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