Renovations and Analysis'

[Dylan Page]

Hello BP!

Name is Dylan, I am from Canada BC and am a bigg newbie to real estate. I am looking to do my first house hack this year and just trying to figure everything out as I slowly make my way. I would like to find a house with some basic renovations to get my feet wet with dealing with construction and reno's and just going through the whole property purchase process. So I am just wondering what some ideas are that people use for affordable, reliable and repeatable designs in kitchens and bathrooms. Things such as flooring, cabinets, countertops, paint colours, etc... that would look nice and modern. Would love to have some ideas that just work easy and go together well so as to repeat in the properties to come!

Also, I am curious on what people think is a good conservative amount for holding and closing costs in house analysis and really just all those costs and fees that go along with the purchase. (ie. legal costs, appraisals... etc; excluding regular housing expenses)

I am very excited for this journey and meeting many talented investors! 

Really Appreciate the responses!

Thanks BP!

[Luke Trovinger]

Hey @Dylan Page! House hacking is a great way to get started! I try to use the same materials/concepts in my reno's to keep it consistent and stay with current trends. Agreeable gray paint, sterling oak lifeproof flooring (LVP), standard white shaker cabinets from home depot. For countertops I've done a solid surface and also refinished a laminate countertop. Find something you like that doesn't break the bank and test it out!

I'm not familiar with holding/closing costs in your area, but it will depend on the purchase price of the home. Closing costs are likely ~2-3% of the purchase price as a rough estimate and your holding costs will include your PITI/utilities at the very least.

Best of luck!