Monday, January 25, 2010

WTF? Oh no, you didn't!

I mean, "What the Flip?" ;). What were these rehabbers thinking? Do you see it? The picture wasn't the best, but I am still pretty sure anyone that is capable of viewing this picture can see the flaw. The door frame is completely crooked. Not to mention, the lock that was installed to accommodate the giant that might buy the house. I am 5 feet 2 inches and I couldn't unlock that back door to get out if there was a fire. Maybe, it's a new child safety feature? I am not too much taller than many children. Just a thought.

Unfortunately, this type of work on rehabs is very common. This house has been redone and is now on the market. Old houses are never, I repeat, NEVER going to be completely square. That is just a fact. However, you can fix certain things to avoid this "fun house" effect. In my opinion, it is worth the extra money to fix things like this. Cheaply done rehabs=cheap housing prices and rapid deterioration, which affects everyone in the neighborhood.

You CAN do good rehabs AND still make them affordable for the first time homebuyer crowd. In my opinion, first timers who don't have a good surplus of extra cash should be extra careful with what they buy in order to avoid costly repairs in the future. It is worth a little more money up front to buy a better product (you can stretch that cost over the life of your mortgage). Tons of costly repairs the homeowner can't afford, CAN lead to foreclosure. In that case, we have another crappy house in need of tons of repairs back on the market. If a good rehabber doesn't pick it up, we wind up in a vicious circle. In my opinion, the City deserves better.

I am not saying that houses in need of a little extra love shouldn't be attempted by owner occupants. I show these types of houses ALL the time. However, I am very careful to be very realistic about the time, dedication and potential cost to the customer and make sure to communicate it. Education IS key, this is NOT "Flip this House". A rehab or even seemingly simple repair is not completed in an hour. Not every buyer client has the vision or stamina to take these types of projects on. Just my two cents :) Bottom line, get your inspections, make sure you have good "bones", get quotes on projects that you need to get done immediately BEFORE you buy and have fun!
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