9 Steps to Completely Rehab a House
Renovating to build your dream home is an exciting time. Your designs are approved, the plans are ready, contractors are excited to get started, but this project also has a few downsides. Once you have pulled off everything, the whole home seems like a collection of dirt and cement. You ask yourself when did you decide to renovate this home and how are you ever going to succeed with this project.
Chances are, if you have received training regarding house rehabbing, you will have a renovation plan that breaks everything into clear and manageable steps. This article outlines the 9-step approach used by most builders and house rehabbers in San Francisco. Keep in mind; this is not a complete list, as rehabbing a home takes more than simple nine steps.
Note: This article focuses only on the “fix & flip” projects.
1. Call a Property Inspector
Buyers want an FHA approved home and to get your home approved; you need the help of a professional inspector. Calling a property inspector has many advantages. It helps you align your objectives with your budget. Furthermore, you get an idea of what is important and what’s optional. Your inspector will examine the heating & cooling system, electrical system, plumbing structure, the underlying setup, security features, roof, and insulation. I believe these are the things that create a functional and secure home and you should always begin with this step.
2. Request a Building Permit
You cannot start work unless you have received the permission and you have to obtain this permit regardless of your location or experience. So, send your application as soon as the first sketch of your renovation plan is ready.
3. Create an Ultimate Checklist
There are various lists available on the web, but they all talk about 10 or 20 tasks. A house renovation involves much more than that. Take your time and create a complete checklist of all the steps you need to complete. Take a print out of your checklist and paste it in places where everyone can see them.
4. Understand Your Budget
Investors have listed their budget when they are buying a fix & flip property. So there is no need to develop a new plan, but you must carefully distribute your money across different sections of your home.
5. Find Your Contractors
Starting a rehabbing project is easy. Finding the right contractors is difficult, and many investors go wrong at this stage.
The initial step is to hire the best general contractor who will manage everyone else on your team. You can take several measures to ensure that you have hired the right person.
-
Talk about their schedule. The general contractor must be able to give undivided attention to your project.
-
See live samples of their work.
-
Get industry references and read reviews. Discuss the budget, their working criteria, their goals and life ambitions.
In the end, hire the person with a better personality and enough experience. Do not hire an individual who is most experienced, but who cannot take directions from you. Once the hiring process is complete, arrange a meeting with your contractor and discuss everything from the roof structure to kitchen faucet. Get feedback on budget restrictions and quality. Make sure that everything is clear and each repair is considered. This step will save you from hours of discussion and frustration in the long run.
6. Start At Once: Exterior & Interior
Every investor has their preferences when it comes to exterior and interior rehabbing. I like starting both at once. Doing so helps us build a functional home quickly, and visitors can see the improved version of the home from outside. Watching a beautiful exterior creates curiosity and people want to know what’s going inside.
Exterior rehabbing usually takes less time, less money and less energy. Interior renovation is where all the money goes. You can divide this step into three major sections and fit everything between those steps:
7. (Section#1)
-
Install a new plumbing system. Water damage can destroy the entire renovation project. So make sure to take care of the water pipes before you do anything else.
-
Check the heating and cooling systems. Your inspector would have told you whether those systems need to be replaced. Take care of the HVAC and then proceed further.
-
Immediately start working on the electrical system because it is closely related to the heating & cooling system. It is best to invite all three parties to begin at once. The plumbers should check the sewerage system while the contractor is taking care of the HVAC and your another contractor is checking the electricity system.
8. (Section#2)
-
Check the walls and insulation. Solve the issue with rotten wood, damp wall, and tears. You may have to rip everything and install new walls. The section #2 aligns with the section #1 because if you throw away a wall with electrical wiring, then it will cost you extra money.
-
Give the finishing touch to your walls. Install dry walls if required and move toward the painting job.
-
Start painting your home.
9. (Section#3)
- Start working on your kitchen and bath. Almost everything in the kitchen and bath can be ordered and installed when ready.
- Finishing touches take time, but you have to take care of tiny details. Call your designers and make sure that kitchen & bath are designed according to modern trends.
- Finish the floors, and your home is ready for finalized repairs which can involve the last coat of paint, landscaping, and lighting. Your lender or property inspector can also request more changes which can cost you significant time and money. That’s why I suggest starting with a detailed property inspection because the project will also end at this step.
[Photo Credits: Flickr]
