Rehabbing Home from 1954

[James Johnson]

Hello everyone,

I have a few questions I would like to get some insight on...I have recently been looking for rehab homes in my area, I have found a really nice neighborhood in a sub-division where all the homes were built in 1954-55. Some of the homes have been updated in the 70's, we're talking baseboard heaters, wall heaters, 2 prong outlets. When rehabbing the house I have considered tearing out the baseboard and wall heaters and adding central air/heat, which I'm thinking will increase the value. In doing so I will need to redo the electrical to be 3 prong with a ground in order to have enough power for the new AC system. Is it worth it to replace those two issues? Is there anyone out there that has had this issue and if so how did you solve it? The homes are about 275k-300k to purchase and ARV is 460k-500k...most if not all are 3 bed 2 bath and around 1500 sq ft. For being that old the homes are in really good shape.

Thanks,

James

[Chris Music]

Hey James!

If the electrical is not grounded I will have that done when rehabbing a house. I have sold homes without upgrading from wall heaters to central heat/air, but it is a nice upgrade and in the areas you are talking about the buyers will expect it in a rehabbed home. It is an additional cost but you'll make it back and it will help your house sell faster. 

Also, make sure you use some sort of geographical reference so that local investors are notified of your posts and can jump in. I only saw this because I happed to be on the discussion board. 

Good luck!