Real Estate Agent · Garden City / Boise, ID · Member since 2026 · 2 posts · 0 votes
On the Bench, most rehabs coming through our network now need mechanical, envelope, or structural work. Cosmetic only deals are rare.
Margin killer one is over improving. A high end kitchen in a $430,000 ARV neighborhood doesn't pay you back. The comp set sets the price.
Margin killer two is under scoping mechanicals. Electrical panels, sewer laterals, and older furnaces can turn into $8,000 to $25,000 of surprise spend halfway through the rehab.
In Q1 2026, disciplined Bench deals in our network bought at $265,000 to $305,000, put $45,000 to $85,000 into the rehab, sold in the $380,000 to $445,000 ARV window, and netted $35,000 to $65,000.
An inspection before you buy isn't optional.
What's the line item that's surprised you most on a Boise rehab?
David, I'm in Memphis, not Boise, but your two margin killers are the same ones I see here — so I'll answer the pattern, not the market. Over-improving is the one that stings most, because it feels like you're doing the house a favor. A high-end kitchen in a neighborhood where the comps don't support it doesn't raise the value; it just raises your cost. The comp set sets the price, just like you said.
The surprise line item for me has almost always been something behind a wall or under the ground — panels, sewer laterals, an older furnace that looked fine on the walkthrough. That's why I agree with you that an inspection before you buy isn't optional, and why I'd price the mechanicals with a real contractor before I let the cosmetic budget grow.