When looking to buy a home for investment, many times a property that is rundown will obviously create more work, but potentially a greater return. At the same time the state of the house may be hiding other problems. It is very important to get a building inspection done. You should always get three quotes for all projects and carefully research contractors’ reputation and references.
When remodeling, it is important to know what buyers look for in your area and prioritize according to potential returns. Look at the info-graphic provided. Determine exactly what you can afford and allow yourself 10% of your total for contingencies – this might cover price rises, having to change contractors and other issues that may lead to increased prices in supplies and labor.
Thanks for reading my Blog. Don’t forget to stop by regularly for more tips and resources. As always feel free to reach out with any questions you might have about Real Estate in Sunny South Florida. Happy remodeling!
*For the return on investment in eight specific Florida cities, go to www.remodeling.hw.net/cost-vs-value/2016/south-atlantic