Rehab flip projects are rarely like they seem on HGTV. Here are our top tips for surviving a rehab in the real world.
Keep in mind that Little City can help you finance your next rehab flip. We offer rehab flip financing based on ARV and we can escrow funds for construction. If you’re getting a good enough deal, you might be able to do your rehab without cash.
We offer fast financing with a quick, easy application process. No experience, tax returns, or bank statements required. We can fund your rehab flip project in as little as 5 business days. Loans are primarily based on the property value, not your personal credit or income.
Top tips for surviving your rehab flip
- Have a vision and plan ahead. Don’t make design decisions on the fly. If you’re not design savvy, hire a designer. There’s a lot of color and finish coordination needed for renovation selections. Trial and error will cost you more than a designer will charge.
- Don’t overlook the big stuff. It’s more fun to redesign the kitchen, but if the HVAC is ancient, the electrical is sketchy, or the plumbing needs repair, your new fancy kitchen is useless. Once you know the systems are in order, target the kitchen and bathrooms.
- Don’t miss the details. Be sure to match the finishes on all faucets, doorknobs, hinges, cabinet hardware, towel rods, and other accessories. Order early so you don’t have to settle for what’s in stock when they’re ready to install.
- Know your materials. Ceramic vs porcelain, granite vs Silestone. These things affect cost, installation, performance, and resale value. Choosing the cheapest materials is risky business.
- Understand construction timelines. Examples: (1) Know when you need to have your light fixtures selected – it might be before the sheetrock goes up (2) Floors finished on site can take as long as 4 weeks to complete.
- Order things sooner than you think you need to. It will probably be in stock now and out of stock when you actually need it. Don’t be left with what’s in stock at Home Depot on the day of install. Order early and check everything as soon as you receive it – don’t open the boxes a month later to find out something’s damaged.
- Measure twice, cut once. Always double check your measurements.
- Don’t assume the experts will get things right. Double check everything. It’s always cheaper to correct an error sooner rather than later. Visit your job site at least once a day.
- Cabinets take forever and will always be delayed. Order early.
- There are 7,000 different white paints. Know your whites. If you don’t, hire a designer.
- Know your paint finishes. Matte and eggshell are for walls. Satin (glossier and more reflective than eggshell) is used on walls in smaller spaces, like powder rooms. Semi-gloss and gloss are for baseboards, trim, and doors.
- The type of paint is as important as the color. Oil-based paint, which is more durable, is often used for doors and trim. Eco-friendly low or no-VOC paint isn’t substantially more expensive, but it’s a selling point for many buyers.
- Don’t buy the cheapest windows. Quality windows are the single most energy efficient thing you can do for a house. Sneaky short-cuts will come back to bite you. Unless you’re selling in a super-cheap neighborhood, don’t buy the super-cheap stuff.
- Chandeliers should hang 30-36” above the table. Kitchen pendants should hang 32-24” above the counter.
- Grout color is as important as your tile selection. Your contractor will like you better if you choose one grout for the floor/wall.
- Scale matters. Check the type of bulb, wattage, and capacity of light fixtures. Know what you’re using for general lighting, task lighting, and accent lighting. If you’re not familiar with appropriate sizing, hire a designer.
- It’s not your house. Don’t make it too personal or quirky or it won’t sell. A flip house isn’t the place to be daring.
- Stage it. Don’t underestimate the value of staging. Even minimal seating and décor makes a big difference in how the house feels. Need to move staging furniture in Dallas? Check out this Dallas moving company.
- Get professional photos. Unless you’re a professional photographer, hire one.
Let us know when you have your next (or your first!) rehab flip project under contract. Little City would love to finance your next flip. Wondering if you’re ready to take the plunge on your first flip project – Read this!
Questions? Please reach out with anything you might need to know before getting your next rehab under contract. We’re here to help!