We can all renovate a house and have it come out looking like the Taj Mahal, but that will not put the most profit in our pockets. You should put out a quality product and do your repairs properly. You shouldn’t cut corners or hide defects in a house. At the same time, if you’re renovating a $75,000 house, you do not want to install marble floors, Corian counters, and replace the exterior siding with clapboards.
You want to do the repairs that will give you the biggest return for the money. If you’re repairing a rental unit, you should use materials that will last. Plastic commercial tile floors for the kitchen and baths are better than the 12” x 12” stickons; commercial-grade carpet and countertops are designed to hide cuts and dirt. If you’re renovating a house for resale, you want to focus on the kitchen and baths.
Spend all of your extra rehab money in these rooms, because these are the rooms that will sell your house. They should be bright, clean and shiny.
Bring the house back to a like-new condition without making everything new. It’s amazing how a little paint and cleaning can change the appearance of a house or an apartment. When planning your repairs, repair anything that is broken or outdated, but don’t go around the house installing all new cabinets and counters if you don’t need them.
Remember, make it nice and put out a quality product, but at the same time, keep in mind that you are not going to live there. The people who buy the house are most likely going to make changes, anyway.
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