Buying to Renovate – OR – Renovating to Sell? Let’s Think This Through Together!

Feeling the squeeze of SoCal’s Real Estate inventory shortage? You’re not alone!

Buyers: Why not fight back? Buy a Home that, while not perfect, through Weekend-Warrior-Sweat-Equity  or Pro-Renovation can become all you dreamed of!

Sellers: Tactical Renovations now could put $$$ in the bank when I market your home! I can refer Local, trusted Contractors who’ve worked for my Clients over the years, but to help you decide if this route is for you, do yourself a HUGE favor: Before you spend a dime or swing a Do-It-Yourself hammer, consider these hard-earned words of wisdom from my Clients & Friends:

REALITY CHECK: Be honest – do you have the “stomach” to handle a Renovation? If you live in your Home while you Renovate, there will be some level of chaos. Certain personality types do not do well with chaos! Noise, dust, displaced household items, noise, unfinished walls, noise, missing floors, did I mention NOISE? Things can get ugly, fast! That’s the truth …

If, in the Oscar-winning words of Jack Nicholson,

“You can’t handle the truth!”  there is an easy fix for Buyers – consider completing the work before moving in.

THE VISION THING: A great Renovation starts with a list of “Wants & Needs”. The list needs to become visual. Remember the fun of using a vision board? Maybe create a PowerPoint, collect photos from sites like Houzz or Pinterest or Wayfair or Home Depot … or good old-fashioned Google Images! A picture is worth a thousand words and could save you thousands of dollars on do-overs!

RESEARCH: So your “Vision” is a magnifico  built-in Espresso still you found on an Italian site (OK, that’s my vision: the web is a dangerous place!), a steam/rain showerhead, a 10-foot marble island in the kitchen? Go on; you deserve it – now research prices and cost to install and operate. $$ Ka-Ching! $$ … The biggest, avoidable heartache in Renovation is cost over-run: Make a Budget and stick with it!

ABOUT THAT BUDGET: Budget both money  AND time. If a kitchen cabinet company promises cabinets built in six weeks, ask what the price will be if they miss the deadline. Penalties ($$$!) keep everyone on track and let the Vendors know that time is important! Always pad the budget with at least 15% on each item. Yes 15%! This allows the extra room needed to do it right and to allow for unexpected challenges. Every Renovation has unexpected challenges. Remember: Challenges are opportunities in disguise!

TALK TO THE PROS: Before you decide to move an island that has plumbing and electrical, determine if that is even possible by talking to a Licensed Professional.

(I have a contact book full of them!) The Pros will provide time- and money-saving tips to enhance your project. And never talk to ONLY one: You have to talk to at least two plumbers or electricians to make sure you are getting the best rate and the best fit for your personality type. Ask them if they see any site restriction to doing the type of Renovation you have planned – Ask them if they have experience with permits and Inspectors in your City.

SET THE TIMELINE AND BE PREPARED: Before the Renovation, create a Calendar “Progress Book”: A diary of the Renovation plan. Take daily (yes DAILY!) photos of the work in progress and completed. All of this is easily done on your phone; the over-priced toy that is ALWAYS in our hands! Track the timeline of everything that is being done, especially for projects that overlap.  The record can come in handy in the event there is ever a problem or dispute about the quality of work. Photos easily recall each step precisely. It’s also an excellent way to keep everyone honest and to keep the quality high. I actually take video of any important Renovation moments like a beam being put up or a kitchen being demolished. Throw in a few of those ‘Selfies’ we’re all so overly-fond of and when it’s all over, your Progress Book can be a fun memory of how you made your Home EXACTLY how you wanted it to be!

A Renovation takes thought, research, planning. Be prepared. “Call Paul!” 310.218.9256!Let me help get you organized. I know you’ve heard me say this before, but here I go again: A conversation costs you nothing, but the results can be life-changing!

Cheers & Be Well – Let’s talk soon!

Paul