Rehabbing an old property can be a great way to increase its value, and it can also be a lot of fun! You don’t have to put the property you inherited to waste, especially if it doesn’t meet your current needs because you can breathe new life into it. Here are ten tips to help you get started on your new project:
Tip #1: Establish a budget and stick to it
This is probably the most important tip of all — make sure not to overspend on your rehab project! After all, you don’t want to be in debt before you even get the chance to turn a profit from your rehab project. So, establish a budget and make sure to factor in everything, from the cost of materials to the price of labor.
Tip #2: Do your research
Get to know as much as you can about the property before starting. What kind of repairs does it need? What are the zoning laws in your area? When was the last time it was updated? The more information you have, the better prepared you’ll be to tackle your project, which is essential to its success.
Tip #3: Plan, plan, plan
This can’t be stressed enough — having a solid plan is key to a successful rehab project! Your rehabilitation plan should include everything from a timeline to a list of materials, and it should be as detailed as possible. This will allow you to stay on track and avoid any surprises along the way, which can save you time and money.
Tip #4: Find the right team
You’re not going to be able to do everything yourself, so it’s crucial to find a good team of contractors who can help you with the work. This means finding contractors who are qualified, experienced, and trustworthy. Do your research and interview several candidates before making a decision. You can be confident that you’re choosing the right team for the job by doing so.
Tip #5: Stay safe
Rehabbing an old property can be dangerous, so make sure you take all the necessary safety precautions. This can include wearing the proper safety gear, using the right tools, and following all safety protocols. Safety should always be your top priority when working on a rehab project since accidents can happen at any time.
Tip #6: Don’t forget about aesthetics
While you want your rehab project to be structurally sound, you also don’t want to forget about making it look good! For instance, if the cabinets on the property are rundown, consider hiring cabinet remodeling professionals to give them a new look. This will help improve the overall appeal of the property and make it more attractive to potential buyers.
Tip #7: Pay attention to the details
The little things can make a big difference, so don’t overlook any details during your rehab project. Even the tiniest details, like fixing a crooked door handle or repainting the trim, can significantly impact the overall appearance of the property. So, use your best judgment and make sure to pay attention to all the details.
Tip #8: Be patient
Rehabbing an old property can take time, so be patient and don’t rush things. You may be tempted to cut corners or take shortcuts since you have a schedule and budget to stick to. However, this can lead to problems down the road, so it’s always best to take your time and do things the right way. This way, you can rest assured that your rehab project is done correctly and to your satisfaction.
Tip #9: Have fun!
This is your project, so enjoy it! Of course, you should save the big celebrations for until after the project, but there’s nothing wrong with taking a bit of pride in your work. So, take your time, enjoy the process, and have fun with it!
And allow your contractors, subcontractors, and team members to join in on the fun. This way, you can keep the morale up, and everyone will be working together towards the common goal of completing the project.
Tip #10: Don’t be afraid to ask for help
If you need help, don’t be afraid to ask for it. There are plenty of people who can help you with your rehab project, including friends, family, contractors, and subcontractors. So, don’t be afraid to ask for help when you need it — after all, that’s what they’re here for!
Although the mere idea of rehabilitating an old property may seem daunting, it doesn’t have to be. By following these ten tips, you can get started on your project and ensure its success. Just remember to take your time, be patient, and have fun with it! And don’t forget to ask for help when you need it. You can confidently tackle any rehab project with the right team in place. Good luck!