We are Far from Chip and Joanna-
Who doesn’t love watching Chip and Jo turn shabby dumps into a families dream home? They definitely inspire our home renovation process, but we find homes that need love and are located in Austin neighborhoods that have appreciating home values. I’m no designer and Ryan is no handyman, but we have fun transforming homes and making some extra income while I am being a stay at home mom for the time being. This is definitely a creative outlet for me and something that I view as “mom time”. So if you were wondering how this fits in with “Abroad named Patrice: motherhood and wanderlust” it’s part of what keeps me sane to tackle daily motherhood!
We are currently working on three properties. This is the first to be completed and it’s been so much fun working together and navigating through the buying, flipping and selling process.
Seeing a Diamond in the Rough
With this lovely 4 bedroom, 3 bathroom property, we immediately noticed how well kept it was. We looked for all of the red flags of water damage, foundation issues, ect. No matter how much you want to make a profit, it’s important to remember that this will be someones home, so putting “make-up on a pig” isn’t our style. Safety and quality are top priorities. This house didn’t throw us for any loops (stay tuned for future blog post on one house that has had every major problem you could imagine!)
Then we ran through our projected renovation costs of projects. We decided this home didn’t need any major alteration of it’s layout, just a face-lift. So we got to week with a 3 week timeline.
Take a look at the before and after photos.
Fun Renovation Project turned Successful Profit
Our timeline: 3 weeks from holding the keys to list date.
Renovations: Installed real hardwood floors throughout, new carpet in bedrooms, new cabinets and quartz counter-tops in all bathrooms and kitchen, new tile floor in all bathrooms, removed popcorn ceilings and wall paper, re-textured walls, new floorboard trim, new lighting fixtures and LED lights, interior paint, exterior paint on shutters, landscaping, new sinks, and updated bathtubs.
Profit after all costs: $55k after one week on the market, which is more than my $47,000 teaching salary.
Our other homes should be listed in the next month, and we are hoping for as much fun and success with them as well.
Stay tuned for our next flip,