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Buying Rehab Property

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A few words of advise, especially for the new investor.

Every one involved in rehabbing houses makes a few mistakes. Sometimes those mistakes are pretty big mistakes and can leave you running for the county courthouse, heading back to the bank for a bigger loan or even heading for the hospital! It’s okay to make a few mistakes. Not everyone knows how to rehab a house exactly right the first time.

However, you can easily avoid the major mistakes that leave you scrambling. Just prepare yourself for rehabbing houses by checking through these common Do-It-Yourself mistakes.

  1. Not Getting the Proper Permits

It can be really confusing process when you first start rehabbing houses to sell and you may overlook the necessary requirements. Like those pesky permits! You’ll need permits not only for general changes to the property but to specific projects like roofing, plumbing and more. So be sure to go down to the local courthouse to get yourself some permits. Let the clerk know what you’ll be planning on doing to the property so they can set you up with all the necessary permits to start remodeling.

  1. Not Getting a Home Inspection

I don’t know if I can say this enough times. You’ve always got to get a home inspection on the rehabbing houses you buy. Unless you have spent time in the past working as a home inspector or are a contractor and just know what to look for, you won’t be able to pick up on every example of damage and disrepair on a property. This is especially a problem with new rehabbers who don’t really know how to rehab a house yet.

Hire a professional home inspector to come out and look at the rehab property you plan on buying.

  1. Getting Cheap!

There is a temptation cut corners when rehabbing. This is really a problem for those investors with a tight budget or who keep finding new unexpected problems with the property that cost more money.

At some point you may find yourself thinking, maybe it’s okay to install particle board countertops in the kitchen or quarter inch drywall instead of the recommended three fourths inch in the bedroom walls. This is not a good road to head down!

You’ll just end up creating a property that looks very cheap to the average homebuyer, with new accessories and equipment that doesn’t last long and will need replacing very soon.

  1. Tackling Do-It-Yourself Jobs You aren’t Qualified For

Just about every Do-It-Yourself home rehabber tackles projects for which they aren’t qualified. Again, it’s okay not to know how to rehab a house when you first start or even to tackle certain projects as you gain more experience. It’s better to pay a professional to complete a project correctly the first time, rather than doing it poorly yourself and having to pay someone else later to redo it. Plus, you can seriously hurt yourself, especially when working on electricity.

There are a few areas that I recommend always hiring a professional for; the electrical work, plumbing, roofing, and certain aspects of landscaping.

  1. Bad or Poor Decorating

Those rehabbing houses will have to appeal to the average homebuyer. Keep that in mind when remodeling and picking out colors, paints, etc. You’ll want to decorate in modest colors that are appealing to most homebuyers. Neutral colors are best like tans, beiges and off shades of white.

In addition, you’ll want to pay attention to the kinds of paint you use in certain areas of those rehabbing houses. A heavy latex paint is required for the bathroom or special wall paper that won’t peel, warp or discolor in the humid environment. Use a flat paint only on ceilings, since it’s not as washable as satin paints. Put that satin or eggshell paint on the walls. Make sure you get exterior paint for the outside of the home, including siding and trim.

Keep these common mix-ups in mind when learning how to rehab a house the first few times. There are plenty of other ways to make mistakes but, these are some of the more common ones in rehabbing houses.

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Homewise Building Inspection Services
3919 West 229th Street, Fairview Park, OH 44126