This home sold in this condition in 2005 for $167,000.
It went into foreclosure and was purchased from the bank for $55,000 in 2011.
The investor remodeled the house and sold it in 2012 for $115,000.
Ugly bric-a-brac before.
Looking good after renovation.
Before Family Room.
After Family Room.
Before Living Room.
After Living Room.
Before Bathroom.
After Bathroom.
Before 2nd Bathroom.
After 2nd Bathroom.
Before Front Yard.
After Front Yard.
Before Back Yard & Pool. Many banks will cover swimming pools in this manner for safety/liability.
After Back Yard & Pool.
Before Back Yard & Pool.
After Back Yard & Pool.
We present these Before & After homes because they show the potential in home renovation. Which doesn’t have to be expensive. It’s a win-win-win for everyone. An investor transforms a neglected, ugly home and makes a modest profit. The buyer gets an almost-new home at an affordable price (this home with FHA financing probably costs the buyer $830/month including taxes & insurance; cheaper than rent!). The neighborhood gets a nice looking home and excited buyers. And neighborhood home prices go up.
6 responses so far ↓
1 Julia // Apr 21, 2012 at 1:50 pm
AMAZING bargain at $55,000.00, depending on location, location, location. I’ve seen charming homes for sale, but if one “googles” an aerial photo, the house could be located right next to an ugly car lot.
2 Picky // Apr 21, 2012 at 2:36 pm
Nice job and it fits into the neighborhood. I agree with Julia. This was an amazing bargain. And the final sale price was good, too.
3 Jozef // Apr 22, 2012 at 12:25 am
I would have left out the microwave, put in a range hood, and install that upper cabinet properly. It’s a decent reno, but that one upper cabinet just makes the whole thing look slapped together.
4 Murphy // Apr 22, 2012 at 12:54 pm
Leif, bric-a-brac doesn’t mean faux brick. It means knickknacks.
5 Andrea // Nov 22, 2012 at 8:49 pm
Amazing! How did you get rid of the paneling wall in the family room? We are moving to one like that with wood paneling everywhere. Any suggestions about it? Thanks and great job
6 Leif // Nov 22, 2012 at 10:10 pm
Andrea, if you’re lucky, the wood paneling only has a few spots of glue holding it on. Pull off and then sand out the rough spots. Or, if it’s on very tight, some remodelers are leaving it alone and installing thin drywall over it.
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