Most expensive item you've put into a flip/rehab?

Question

Ophelia Nicholson · Answer

I'm so into lighting- I put chandeliers in my kitchens....I'm not sure if its for me or for the people buying it but hey multiple offers usually over the list price works for me.. I try to justify it but really who needs chandeliers in the kitchen.

Erik Hitzelberger · Answer

The most expensive thing I've ever put in to a rehab was a bad lease-option tenant.

Second most was a $16000 parking structure. (Can't find a picture, but it's impressive).

Account Closed · Answer

For me it may have been the ton of extra hours I spent doing needless things on the first one or two!

Anson Young · Answer

Most expensive thing? A GC.... zing!

Honestly, I just dont splurge. I always joke how 'boring' our rehabs are, how they appeal to the lowest common denominator of HGTV watchers, but they sell pretty much right away. My cabinets/counters/paint/tile/doors/windows/roof color/carpet/flooring are all the same in each job, so its easy to not go overboard.

Brandon Hicks · Answer

A tenant........

Marc Freislinger · Answer

I've been part of some pretty large flip projects. Several with remodel costs in the 6 figures. We've taken homes pretty much down to a wall or two and rebuilt them with an extra 1000sf. The single most expensive item, though, would be having a pool installed. They run between 20-25k. We have also done a set of 5 large (25-30ft) trees that had to be craned into place over the million dollar home we were working on. It's been a while, so I'm not completely sure, but the total on that came between 11k and 14k.

Pool:

Trees:

Account Closed · Answer

@Patrick Jacques Great Topic

High end kitchen on flip I was involved in 2004. A "walk in" refrigerator/freezer/wine cooler for house that sold for 1.3 million. $26,000 the unit/box cost. Not including install. Looking for pics. Funny house has been vacant for 2 years and 3 months and the foreclosure process is midway. That said I got inside and the house is destroyed and I suspect will go for about $450,000. ARV about $600,000 today. IMHO renovations over $150,000 to get it into shape. Sad. The r/f/wc I put in was badly damaged and compressors were cut and taken.

Jeff

Jay Hinrichs · Answer

Market conditions a lot of time will dictate what you put into a house.. In a rip roaring market you can be less attentive to detail and nicer finishes. In a really down market you end up with Slab Granite and SS appliances in a starter home to set yourself apart and get that one buyer that may be out there.

Usually the most expensive thing you put into a house is something that was missed or unexpected.. I just did a basement and it was a boulder field boulders as big as cars that ran 40k over budget...

And I just put a Wolf range and Hood into an upper end home that was about 15k for that .. Won't get double my money back for it.. but in a market were sales are competitive it will make my house sell before the next guy who put in builder grade appliances.

David Jacques · Answer

I can honestly say the most expensive thing I've done on a single item is $4500 for an hvac unit.

My personal goal is to get a 100% return on any item I install on a house (total price + labor = $100, sales price goes up to recoup the $100 and puts another $100 in my pocket). It's a frugal way to invest and you certainly won't win any beauty contests but I want to be able to undercut EVERYONE should the need arise. It's a really good checks and balances system for me to not over invest my funds.

Sam Craven · Answer

Got a house we are doing right now that will get a $7,000 stair banister.

Most expensive item you've put into a flip/rehab?

Most expensive item you've put into a flip/rehab?

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