First and foremost, I don’t care how much money you have to improve a house. If the location is bad, you won’t get the ROI you are hoping for. Think of it this way. Picture a piece of German chocolate cake with chocolate frosting oozing down the sides and fresh raspberries on top specially made by Rachael Ray herself. Now picture that piece of cake wrapped in tin foil and buried in the city dump for a couple hours. How many people (that aren’t starving or near death) do you think would go to the dump, find and pay for that cake?
If you’re being honest with yourself, the answer is no one. Yes, people want luxury and it’s possible that you provided that in your renovation with the best appliances and $30,000 landscaping. But if that building is centered in a sketchy neighborhood or near a noisy factory, odds are they won’t pay any heed to any of the hard work you put into making that house a home. You’re not going to sell a $300,000 dollar home in a $45,000 neighborhood.
Once you choose a home in a decent location and the price is right where you could see a profit, get to work!
The second lesson I’m going to share is one I learned the hard way. Which I suppose means I’ll never make that mistake again right? Right! I’m sure you’ve heard this several times as you’ve worked on projects yourself or heard from people on HGTV. “Measure twice, cut once”. Scripture right there. This is actually a huge money saver. If you never mess up on your cuts, you won’t have to return to the store to buy more material to attempt again, and again, and again.
And third, I don’t care how comfortable you get with the tools you are using whether it’s a table saw or a tape measure. Always be alert when you are working and practice safety first which means wearing your goggles, leather gloves, or even a face mask. Never get comfortable enough to think that you are better than safety.