We are in the midst of a full rehab project in a townhouse downtown, which gives us an opportunity to explore the idea of rehabbing for both the present and the future.
What does that mean, though?
In this instance, our client wanted to purchase this new home (knowing it needed work) only if we could rehab it and keep it within his “all-in” budget. The client wants to move in now and make the necessary changes to enjoy the property, but he also knows that in about 5 years he may want to sell. He wanted this flexibility, and his budget reflects his forethought and planning.
Nowadays, buying a “forever home” is less and less common. So, knowing that you want to purchase a home, make necessary changes and upgrades, and still be in a position to sell if/when needed is key to making a sound and informed decision.
For us, that meant that we had to walk through the property while it was still on the market, and give our client cursory estimates on the before a purchase offer was ever submitted. We also had to guarantee that it would be completed within six weeks. (You’ve probably seen similar examples of this process on HGTV – both “Property Brothers” and “Fixer-Upper” use this same methodology.)
Once the property was purchased, we were on-site the next day with all of our trades. Rather than piecemealing the process, we invite every participant in for a global overview at one time to walk the property and then set the schedule according to necessary work flow. This is what allows us to coordinate larger projects and get them done faster and more efficiently.
This rehab project has only just begun, but we look forward to sharing the final results with you in early May. In the meantime, here is a quick glance at the early stages involved in renovating an entire home. Stay tuned for the “after” pictures…
All my best,