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Thread: Home Remodel: Do, Don'ts, Advice
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05-09-2022, 08:52 AM #6676
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05-09-2022, 08:53 AM #6677Registered User
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Man this just isn’t adding up to what I’m seeing. I don’t doubt what you guys are saying is true but I wonder what going on here. All over town here (Spokane) there’s investors who are buying houses and having a contractor gut and remodel the whole thing, it’s happening all over. And then you see that place on the market 4-8 months later.
For now I’ll stick to renovating myself as there seems to be money to made there, and I enjoy doing it, so I can call it a hobby and not count my hours, hah
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05-09-2022, 09:16 AM #6678
they're doing it cheap/fast as shit with a crew experienced in doing the same bullshit installs in each one - is that what you aspire to?
yes, your own labor is the most economical way to get your project done
The reason contemporary American houses suck is because of the process above. The value is in the sale, not the house. And that value is for the seller not buyer. And, given that this is how the preponderance of American housing stock comes to be, even new builds, buyers have shit choices with terrible low budget installs and construction that isn't meant to last beyond the 1yr install warrantee.
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05-09-2022, 09:28 AM #6679
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05-09-2022, 09:30 AM #6680
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05-09-2022, 09:42 AM #6681Registered User
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05-09-2022, 09:58 AM #6682
I think the value of a remodel for a sale depends heavily on the piece of land that the house is sitting on. If you have a shitty house sitting on a very valuable piece of land in a hot market, fixing it up can definitely be a net benefit. If you have an ok house on an ok piece of land in an average market, fixing it up probably won't get you much of anywhere.
I don't know how Spokane is, but around western Montana, there are a lot of shitty houses sitting on very valuable pieces of land. There's plenty of money to be made reno-ing those houses and selling them to San Franciscans.
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05-09-2022, 10:06 AM #6683
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05-09-2022, 10:49 AM #6684
Also, it's important to remember that some renos are to move houses up a tier. To toast's comment - moving something from shithole->new easy stuff like floors/counts/cabinet facings with new appliances is fairly low cost-wise while bringing in a whole new class of buyer. Reno'ing a bathroom on a good place to be great? Much lower impact. This is why it's hard to measure ROI - what was it like before?
For example, if you have a 70's/80's kitchen with a coil stove, then you reface the cabinets, add a backsplash+stainless appliances and a glasstop - suddenly it goes from "shithole rental" to "updated kitchen" that plays well in photos. Given that most buyers are not incredibly discerning/knowledgeable, what was likely a 10k investment pays off way more. Pair that kitchen with painting/cleaning the house and maybe a few other random updates like vanities and fixtures so it doesn't look old and you probably catch a huge profit out of relatively low labor costs. Also, guts may be cheaper if you can just paint with no dropcloths, throw standard cabinets/other stuff in and just use bulk buys to turn a profit without that high end a crew (as you only need real folks for a small number of things and rando laborers for the other shit).
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05-09-2022, 11:04 AM #6685
The “developers” making money doing this are contractors with RE licenses…. The economics make more sense when your not paying 20% to a builder and 6% to an agent.
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05-09-2022, 01:12 PM #6686Registered User
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I'm looking to buy a house butyeah most of what I see is fix and flips
Someone has a line on a place never gets listed sold for 200k or less Jim bob and his realtor buddy dump 20k - 60k into it you know top of the line LVT flooring cheap cabinets stainless steel appliances maybe even spluge for solid surface counter hey even some floating shelvves that will fall off the wall in just over a years time dog shit paint crap carpet some pizazz in bathroom maybe even take out a wall for that open floor plan feel
Sell for 550k mega profit you can do it too
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05-09-2022, 01:15 PM #6687Registered User
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Nothing screams RUN like lvt. What is exactly luxurious about glue down vinyl strips ?
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05-09-2022, 02:12 PM #6688
LVT is the shit for mud rooms, laundry rooms, and workout rooms.
Only reason to use it in any other living area is if you have a pack of psycho dogs who will tear up anything else on the floor.
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05-09-2022, 02:13 PM #6689
and rentals
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05-09-2022, 02:17 PM #6690
I like the stuff in our kitchen. It certainly isn't luxurious but neither is the rest of the kitchen or the rest of the house. And it was definitely an improvement on the at least 50 year old vinyl that was there before. I figure the house is in for a gut job by whoever buys the house from our kids. Starting with the asbestos covered gravity furnace--that one is 90 years old.
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05-09-2022, 02:18 PM #6691
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05-09-2022, 02:24 PM #6692Registered User
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Good point. It always makes me laugh when I see a primary residence for sale with it all over the house with a home depot remodel.
It reminds me using .99 glue down vinyl tiles in a kitchen when I was 27 with $300 left to my name to finish a kitchen floor to make it rentable.
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05-09-2022, 03:25 PM #6693
Vinyl plank is my preferred floor on cement.
You can do a floating floor. But there’s always hollow spots that sound like shit.
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05-09-2022, 03:28 PM #6694
have a few hs friends flipping and selling in spok at volume and can verify everything they do is absolute garbage, often not to code. i’ve seen many houses flipped 3-4x in the last 10 years here, :: :: is spot on, sellers get paid buyers get fucked. depressing to watch shit work increase buying costs and it’s the norm in this market
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05-09-2022, 05:02 PM #6695Registered User
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Those quick flips with crappy gray everything are so obvious, it surprises me that any buyer would go in thinking the work was well done. We saw a superficially nice house off of Rockwood that had lumpy LVP in the basement, as well as a newly-framed out laundry room with the hookups in but no appliances. We walked into the laundry room and realized the layout would make it impossible to fit a washer and dryer where the hookups were. Kind of mind boggling that people are buying that stuff
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05-09-2022, 05:36 PM #6696
If the stuff you can see is shoddy, think about what you can’t.
We saw a flip when we were looking last year where the garage wouldn’t stay closed, it would just bounce off the bottom. So the solution these geniuses came up with was to put the opener’s outlet on a switch. We had to flip the switch when it hit the bottom to cut the power and keep it closed.
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05-12-2022, 03:51 PM #6697
I've got a drop ceiling in my basement that's due for some attention. What kind of paint would be recommended to repaint the T bars?
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05-12-2022, 04:43 PM #6698
Oil based white paint. Rust oleum
PS. I’m building a twelve by sixteen shed
I could live in that. Quite happily.
Why are houses so big.
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05-12-2022, 05:02 PM #6699
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05-12-2022, 05:35 PM #6700
Houses are so big to hold everyone's stuff.
Which begs the question, why does everyone have so much stuff.
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