In this episode of The Most Dwanderful Real Estate Podcast Ever, Dwan will tell you the fastest way to sell your rehab. This is the last episode of the rehabbing mini-season and it is a great one to finish on.
Dwan’s biggest pet peeve with rehabbers is when people rip out a bathroom or a kitchen and then put all of the appliances/fixtures and cabinets in exactly the same spots. Once you demo the room, take measurements and go to Home Depot. They can digitally redesign your space and make it feel like a brand new room. Speaking of bathrooms, Dwan and Bill always install urinals in the bathrooms they redo and the men always love them. Most rehabbers try to sell the house to the women based on the kitchen and bathrooms, but if you put a urinal in, the men will be on board too.
In order to sell your rehab quickly, Dwan recommends that you install the tile that looks like hardwood, install two kitchen faucets, put in an ice maker, and buy a kitchen suite so that all of your appliances match and are updated. When it comes time to sell, don’t immediately list your house with a real estate agent. Advertise and put on an open house yourself and see what kind of interest you can drum up. Start out pricing your house 5% below market value knowing that if you list it with an agent, they will bump up the price to account for their commission fee. Every 30 days that the house doesn’t sell, lower the price. With these tips, you are sure to sell your rehab in a timely manner and make what you expected to make off of the deal.