Friday, March 11, 2011

My First Flip

As I continue to wait for the electric and plumbing to get up and running in our next house, I thought I would share with you some photos of my first major renovation project.  This house was a mess from top to bottom and uninhabitable at the time of purchase, but we got it for a steal and it was the perfect size for us to get our feet wet. We ran into a lot of unexpected issues along the way, such as major water damage, pests and rodent nests, chimney damage and so on, but in the end we stayed relatively within our budget.

Renovating a house for resale is very different than renovating a space for your personal use. Two rules of thumb while renovating for resale are to know where and where not to spend your money, and to keep your emotions in check.  For example, that beautiful white farmers sink would look so pretty in the kitchen, however I am going to opt for the basic white drop-in sink because it will save me several hundred dollars off my bottom line, and it won't deter a potential buyer. This can be quite challenging for us design enthusiasts, but is very necessary if you don't want to end your project under water.  And when in need of a contractor to help along the way, I would suggest obtaining several different quotes, as surprisingly, they can vary in price drastically. But more importantly, it is wise to use someone you trust because some contractors simply won't show up to finish a job. Fortunately, with the economy as it is these days, most contractors are happy to show up.

In the end, our first flip was a great learning experience and loads of fun, and I can't wait to embark on the next one!

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