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Updated about 7 years ago on . Most recent reply
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I far should i go with this remodel?
Hey BP,
I want to get some input on on a situation i am dealing with on one of my flips.
The house is in a c neighborhood, i bought it for $134k. The ARV is somewhere around $240k (its only 1100 sqft). I was planning on spending around $30k on the remodel.
I basically gutted the house since it had a horrible hoarding/trash problem that caused rats to make home in the house. The Clean up was horrible.
My question is, If $240k is the absolute most i will be able to get for the house(, even if it was all custom granite, oak floors ect.) is it worth it to spend a few extra thousand on the remodel to make the house extra nice for the neighborhood? My thinking is that if i do nicer finishes and make the house look like a b+ style home, it will stand out to someone looking in a nicer area and maybe the house itself will draw in more buyers and help it sell faster. I would be sacrificing a few grand (to do wainscoting, tile walls in bathrooms, nicer floors, and better landscape/patio).