Rehabbing, flipping, turning a profit, renovating......... call it what you want. It must be done right. I have seen a number of people go into a home with ten gallons of white paint. They cover the walls, floors, cabinets and ceramic tile in the bathroom. Next they will put on a few shiney faucets and knobs, clean the carpet and call it a rehab. NOT what I would buy if I was out looking for a home.
When I rehab a home, I get a little carried away. My wife keeps reminding me, "you're not going to live there" but I can't help thinking -- how would I want it to look if I was the buyer?
I always gut the kitchen and put in new cabinets, ceramic floor and granite counters. Yes, there is fresh paint throughout but it is a neutral color with all the trim painted a contrasting white. All carpet, out with the old, in with the new. New lighting throughout. New faucets throughout. Repair or update any plumbing and electrical defects. Fresh landscaping for curb appeal. Bring the house up to code. Even if the city I am working in does not have a required city inspection, I treat the project as if an inspection was done.
The first thing a buyer sees when they pull up to one of my homes is the new mailbox, porch light and house numbers. The fresh landscaping catches their eye. I want my buyer to walk in the door and say "WOW".
I want my buyers to be able to move right in and enjoy the home without worrying about the things that need to be fixed. I want to eliminate any negative thoughts. I don't want them to say "there's a couple of things about the house that we need to think about first".
Rehabbing, flipping, turning a profit, renovating --- there is a difference.
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