5 Great Tips to Save Money In A Rehab
Whether you’re feeling overwhelmed at just the thought of taking on a rehab project or you’ve flipped homes many times, we’ve got some serious money saving tips for you. After years of tackling real estate investment projects, our crew of tradesmen and general contractors learned what works to appeal to potential buyers and what saves you time and money. So, check out our list and comment below with any tips of your own:
1. Cabinets-Expensive cabinets are not needed, but wonderful eye-catching hardware is. For most of our investment properties, we use stock-build-your-own cabinet from Cabinets To Go . Their cabinets come with 5/8” solid wood frame construction, soft close and nice finishes. Pro tip-add a little wood glue at the corners to keep the cabinet strong.
2. Hardware-The trick is great hardware, make sure you spend a few extra dollars and go with some bling not offered at the big box stores. One of our favorite places is The Knobbery. This is well worth it! Finding great hardware may not be a money saver, but it will be a money maker. Pro Tip-also add unique locksets and it will instantly add value to your property.
3. Tile-Expensive tile/stone is not needed. Pro tip-receive a contractor’s discount at one of the many wholesale tile suppliers. Most wholesale suppliers will offer you a discount if you have a business card with your business name. One of our favorites is Daltile located in Elk Grove, IL. They offer a wide variety of ceramic and porcelain tiles and by not picking from the big box stores, you’ll avoid looking “average”.
4. Paint colors – we just can’t say enough about it. Make sure to pick 3-4 colors to use throughout the house. And, once again, get a contractor’s discount at Sherwin Williams or Benjamin Moore. Be sure to use their contractors paint because it is better than most others’ “high end” paint. On average, we save about $10-$15 per gallon over Behr. Pro tip-always use flat paint (not in the bathrooms), it minimizes imperfections in walls and most paint is washable.
5. Drywall-Repairing drywall is a time sucker! Unless we are talking about a small area with nicks and nail holes, it is less expensive and a far better end product to replace a whole or ½ sheet. Many years of repairing an area 2’x2’ has taught us this valuable lesson. Pro tip-cut out your damaged drywall where there will be one – two seams only and you will be much happier and less aggravated.
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