A property needing $5,000 in cosmetic updates is very different from one needing $50,000, $75,000, or $100,000 in renovations.
Major projects require careful financial analysis.
Common Expensive Repairs
Large renovation budgets often involve combinations of:
- Roof replacement
- HVAC replacement
- Plumbing
- Electrical
- Foundation repairs
- Windows
- Kitchen renovation
- Bathroom renovation
- Flooring
- Water damage
- Mold remediation
- Structural framing
- Exterior repairs
Get Realistic Contractor Estimates
Don’t rely exclusively on online calculators.
Have qualified contractors evaluate the work.
Renovations frequently cost more than initial estimates because hidden problems appear after demolition begins.
Build a contingency into your budget.
Calculate the Potential Value After Repairs
Estimate what the property might realistically sell for after renovation.
Then subtract:
Renovations
- financing costs
- taxes
- insurance
- utilities
- commissions
- closing costs
- seller concessions
- holding expenses
Compare that projected net amount with what you could receive selling today.
Your Time Has Value Too
Managing a large renovation requires:
- Contractors
- Inspections
- Material selections
- Scheduling
- Unexpected repairs
- Payments
- Cleanup
For some owners, that effort is worthwhile.
Others would rather take a lower as-is price and let someone else handle it.
Want to Avoid a Major Renovation?
TBK Buys Houses evaluates Atlanta-area fixer-uppers and distressed houses.
Contact us if you’d like to compare an as-is offer with the cost and time required to renovate your property yourself.