Your goal during the fix-up phase is to increase the property’s curb appeal and resale value by:
- Giving the property and grounds an industrial strength cleaning.
- Applying a cosmetic facelift to the exterior of the property and grounds.
- Applying a cosmetic facelift to the interior of the property.
Know What You Don’t Know About Property Repairs
A word to the wise: If you’re thinking about doing the fix-up yourself, first ask yourself this question: Do I have the knowledge, skill, and experience necessary to do a top-notch, professional quality job? Be honest with yourself. I’ve seen a lot of money wasted by so-called weekend handymen who didn’t possess the skill levels necessary to achieve a first class job, and they had to call in a professional at a great expense to bail them out and redo their handiwork. Know your limitations and abide by them. Don’t try to save money by doing repairs, which you aren’t qualified to do. In other words, know what you don’t know about property repairs, and never attempt to fix stuff that you know absolutely nothing about, regardless of how many times you’ve seen Norm fix it on reruns of This Old House! The often-heard refrain of, “don’t try this at home,” should be applicable to all amateurs for any repairs.
Seven Key Elements That Must Be Included In Your Property Fix-Up Plan
The trick to having a fast property fix-up that’s on schedule and within budget is to be well organized. In order to do this, you must make certain to include the following seven key elements in your property fix-up plan:
- Budget: Establish a bottom-line budget before you start the job.
- Total job cost estimate: Estimate to within five percent how much the total fix-up is going to cost.
- Labor: If you don’t have the knowledge, experience, and time to do a first class professional looking job, hire competent tradesmen and contractors to do it for you.
- Job supervision: If you don’t have the knowledge and time to supervise the job yourself, hire a competent professional to do it for you.
- Quality control: Have all of the completed work inspected to make certain that it has been done in a professional manner in accordance with acceptable construction methods and building codes.
- Work schedule: Set a coordinated work schedule to complete the entire job.
- Completion date: Put completion dates in all your contracts and hold everyone accountable.
Guess What? There is more to “How To Fix Up Properties For Maximum Curb Appeal And Resale Value” . In Part 2 I cover how to find, hire and protect yourself from Contractors.