Rehabbing properties with the intent to sell them can be expensive and time-consuming, but it doesn’t have to be. If you have a real estate investment that needs work before it’s ready to go on the market, you can save thousands of dollars by doing many of the repairs yourself. Here are four tips to get you on your way:
1) Buy New Locks. The first thing you should buy for the home you’ll be working on is a set of new locks for all of the exterior doors. You’ll likely be storing sinks, windows, plumbing and other building materials in your home while the repairs are underway, and these are high-value items for thieves. Securing your entrances and exits will help keep your real estate investment safe from the first nail all the way through to the closing.
2) Invest in a Paint Sprayer. Paint rollers are well and good if you’re painting a room or two, but if you need to cover a lot of area in a short amount of time, an airless paint sprayer is the way to go. For around $300, you can lay a full coat of paint down in a matter of minutes. Plus, the investment will last you for years to come.
3) Light it Up. After painting the walls, new light fixtures are the cheapest way to raise a house’s property value. You can pick up inexpensive fixtures in any style from a home improvement retailer. Never be afraid to spend money to cover every bare bulb in the house.
4) Hit the Floor. While installing carpet is a task best left to the professionals, you should install linoleum in the kitchen and the bathroom yourself. You can get away with replacing broken or damaged tiles as long as the house came with extras, but if there’s no possible way to keep things looking consistent, it’s better to bite the bullet and install new floors.
Remember, rehabbing properties is best done correctly, not quickly. Take the time to make sure all your repairs are thorough and your real estate investment is up to code before listing the house on the market. If you don’t feel confident in your ability to perform a repair yourself, get help. It’s better to do the job right once than it is to rush, because then you may have to do it all over again – or even pay someone else to do it!
