Before you buy a foreclosure, it is essential to figure out the cost which will be involved in renovating it. The house flippers usually spend something between $12,000 to $17,000 to renovate a foreclosed house and make it available for a re-sale.
Each home will have unique problems and require you to view them differently so that you can achieve the desired results. However, some of the issues are common and these typical damages can be dealt with ease in the following ways.
Check the Mechanical, Electrical and Water Systems
In foreclosed properties, it is quite common that these systems have received significant damage because of the lack of provision of maintenance services. Even before you buy a home, check the extent of damage to these systems because this is going to cover most of your budget. This can even allow you to bargain on the home price and bring it down since you are going to spend so much on maintenance.
Take Care of the Mold
This is the foremost problem of foreclosed homes and you are going to experience it for sure. There are times when the issue has magnified to such an extent that the walls and ceilings are all black. Unfortunately, if it has infested the drywall then you don’t have any option other than to replace it. Never ignore the mold even if it’s not severe because eventually, it is going to spread and cause a lot of damage to the house.
Hire a Painting Contractor
If you hire a painting company in Atlanta or anywhere else, be prepared to see your foreclosed house undergo a dramatic transformation. While not costing you an arm and leg, paint can change both inside and outside of the house and even help you get rid of vandalism. You’ll be able to get the job done quickly, achieving the desired look without draining all your energy.
Look Out for Yard Sales and Thrift Stores
If you haven’t been to a yard sale or a thrift store before, you’ll be amazed to see the kind of things you can find at such places. People tend to sell their good-conditioned items at a fraction of the original cost. Even the thrift stores have a lot to offer and will leave you amazed with their variety. You just need to be a little vigilant so that you can spot the items which might be damaged.
Focus on Bringing Little Changes
Instead of spending on big-ticket items like replacing windows and renovating bathrooms, try to focus on the inexpensive cosmetic improvements which can do wonders. You can replace the doorknobs, switch plates, toilet seats, ceiling fans, and faucets to bring out a new look in your house.
It is better to hire professional service providers like technicians and painting company in Atlanta or anywhere else for a foreclosed home. This will help in getting the job done in the best way and achieving the top results.