Rehab extent
I am looking to make a purchase and have been approached with a property from a whole seller. He gave is ARV and Rehab costs and a suggested price for his sale to me. The question I have is to what extent should a property be rehabbed to? Do you ignore minor repairs? Do you make your property in the top 1 or 2% in the neighborhood? Do you go cheap using vinyl and bland appliances even for a first time home buyer market or do go with tile and stainless steel to attract and be the out front property?
I am being told to ignore some of my scope list stated below. This far I have done 1 flip and hold many rentals.
Scope of work for a single family in PA
2nd Floor
Bathroom
New tub and flooring and possibly drain and faucet replacement
New vanity and fixtures
Bedrooms and hall way
Windows? some were old
Some Doors
Patch and Paint
Some moldings were old style? may need to update
1st Floor
Front Door needs replacement
Kitchen
Tile Flooring
Appliances
new Sink, cabinets etc
Recessed lights
Bathroom
Update flooring, vanity, toilet
Fix ceiling in family room
Flooring in family room (engineered hardwood flooring)
New electrical panel (200A)
New back door to kitchen
Outside
Roof has shingles missing from the weater either replace or repair.
Lower roof on addition is old
Missing downspouts
Replace back down spout
Back patio is out of date and either needs replacement or recoating
Pressure wash siding and paint entire house
New cement walk way
Landscape front and side of house
Replace driveway with new black top
Remove old tree out back
Update old shed out back with new wood
Fix wire fense
Capping two outside windows.
Concerns
Moisture issue and rot in crawl space
Termite or pest inspection in craw space
Electric heat
Flow from front door to family room is odd