Fixing distressed houses and properties in a fixed budget.
Rehabbing foreclosed and or distressed houses and properties in Chicago can be a costly project if you don’t know what you are doing. URB Chicago has been selling foreclosed and distressed houses and properties in Chicago for nearly forty years and one of the most frequent questions we hear from rehabbers flipping houses for profit is, are there any cheap fixes when rehabbing foreclosed and or distressed houses and properties in Chicago?
The answer is, yes, and here are three cheap fixes that will save you a lot of money and make your rehabbed property look great.
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Turn distressed houses and properties into making makers.
Choosing the right paint
Paint does make a difference, though long gone are the days where a single warm color is going to cut it. Homebuyers are looking for that wow factor when they buy a distressed home that has been renovated in Chicago’s southside neighborhoods on Chicago’s westside neighborhoods. There is a lot of rehabbed real estate available in Chicago and you need to stand out. While colors such as white and lighter warm colors are appealing to most people, you can improve the aesthetic and bring in a wow factor by adding a splash of color to a room. This creates energy as potential buyers view your property for sale. When rehabbing foreclosed and or distressed houses and properties in Chicago, this extra splash of color can set you apart from the norm.
Shop salvage
A popular trend in interior design and architecture is reuse. Due to the number of distressed Chicago houses in Cook County, IL, Chicago is a popular place for architectural salvage companies and buyers. You can add a lot of character to a home by incorporating salvaged materials and decor from homes in the 1800s and 1920s. Chicago bungalows, Victorian houses, and virtually any pre-1940 home likely had significant detail from built-in features to cornices and other design. Additionally, architectural salvage companies will often offer significant discounts if asked and if you are a repeat customer – so keep rehabbing Chicago houses.
Elbow grease goes a long way
If you are like most people rehabbing foreclosed and or distressed houses and properties in Chicago you will use contractors to do a lot of the specialized work for you. However, using elbow grease and completing rehab tasks on your own is the best way to save money on your fix and flip property. The cost of labor is often at least half of your rehab, sometimes more. By completing work that also enables you to manage your fixer-upper, you can save thousands of dollars per rehab project, if not more.
URB Chicago specializes in selling distressed handyman special real estate in Chicago’s southside and westside neighborhoods. Known as Chicago’s most trusted distressed property seller for nearly forty years we provide owner financing agreements on properties for sale in Chicago that help people with bad credit and low income. Contact us today and speak with one of our friendly and knowledgeable real estate experts.