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It's the same every episode. One partner loves their current, cluttered mess of a house, and isn't moving. The other partner wants to move. They have a budget, which is about half what the repairs and remodel will cost. Then there's the hidden problems Hillary's guy uncovers which takes one big project off the table. She cleans up their clutter, and tries to entice them to stay. Never varies.
Don't forget the dramatic argument between the couple where they walk off to get away from the cameras like they aren't still mic'ed.
This is definitely not true. For example, anywhere near downtown Durham, pretty much any interior renovation (kitchen/baths/etc) will get your DOUBLE back what you spend (ie, spend $25,000 on a kitchen renovation will add at least $50,000 to the value of the house). This has been happening for several years and is continuing to pan out. You can make serious profit by doing full scale renovations.
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Originally Posted by MarshallTucker
I totally agree Fresh. Adding square footage inside the beltine in Raleigh can be very profitable. If I can add at $150-$175 per square foot which is worth 240 per foot, then my equity position improves. We added 750 square feet 5 years ago and it was a very financially prudent decision.
While I have no doubt certain neighborhoods have better returns than others, as a whole, most people who buy an "average" property to live in at fair market value and then make some renovations, using contractors, don't directly recoup the money they put in. The house may appreciate in value and you might "make a profit" but it is due to larger market forces over time and not "tit-for-tat" because of the renovations done. Don't take my word for it http://www.remodeling.hw.net/cost-vs...outh-atlantic/
Now if you are buy a distressed undervalued property in an up-and-coming area and do some "smart" remodeling yourself and/or have access to contractors at "volume prices" you could very well make some good money directly from the improvements. But, this is not your average homeowner renovating their own home with "hired hands" over time. These are typically professional investors/flippers.
In some super hot areas, think certain neighborhoods of Seattle or San Fran, doing renovations is a complete waste of money. The land is so much more valuable a wealthy buyer/investor will come in and bulldoze anyways and build exactly what they want. Their offer would be the same whether you did the improvements or not.... they are simply buying the land. Really, if you want to maybe add some value, you could do the bulldozing for them and sell the empty lot. Granted, this is an extreme example.
I know someone locally that was on the show. It is very fake. If I remember their situation correctly, this couple was just renovating their home, no intention of moving. Show had them "listing it", which they did not do.
All of the home shows are fake. I've known agents/people on house hunters and some others. It's 100% scripted, not their clients, people already bought months prior, filmed in friends homes. Garbage TV.
What is most "fake" about this show, and others like it, is the ROI they always get. It is always over 100%.
For example, they spend 50K on improvements/remodeling and suddenly their house is worth 80K more than before. In real life you never get over 100% ROI from home improvement projects; at best you get back 70-80%.... maybe 90% if you are extremely lucky and all the stars align. It is very misleading.
Definitely not true but there are a lot of variables. You can spend $50k on a kitchen or $10k, same with everything else you can fix up. Granite is a good example. I called almost a dozen places with a slab I picked out at Cosmos. My lowest quote was $1,800 and my highest was over $5,000 for the same exact slab. Granite will easily add value to a home, and getting it done at $1,800 is easy for me to double or triple my money on. My Ikea kitchen cost me $4,000 plus $1,800 for granite, plus $2,000 in misc things. Lets say $8,000 total which easily added $15,000-$20,000 to the value of my home. If I had gone to a kitchen showroom and spent $30,000 on custom cabinets then I would have been in the hole.
Doing my master bath later this year. Pretty large area and gutting it down to studs. Bathroom place would charge me $15,000-$20,000 easily and it would probably add $15,000 to my value on a good day. I will get my bathroom done all in for under $8,000 with me doing very little work myself. Hanging a mirror or installing the vanity and that's it. Thats hiring a licensed plumber for the hard plumbing, hiring a tile guy for all the tile work, and getting a good deal on tile and not buying from the most expensive place.
I agree the shows are fake. Their numbers, the people, what they say it's all fake. Every show about homes minus maybe Holmes or Rehab Addict, but even they fluff some numbers on occasion. However making cosmetic improvements to a home can yield positive appreciation than what was invested if you shop wisely.
It's an annoying show. The most staged/faked of all of them.
It might sound strange but the most annoying aspect of that show to me is how they almost seem to go out of the way to avoid saying where they are. The homeowners will occasionally let it slip (I've heard mention of "downtown Durham" slip out from a homeowner in lieu of the usual "in the city" the hosts say)but the hosts pretend like it's a sitcom with a generic anytown location. RE is all about location. They should mention it. I don't think I've ever heard David or Hillary say the words "North Carolina" "Raleigh" "Durham" or any city/town name in the show.
It's an annoying show. The most staged/faked of all of them.
It might sound strange but the most annoying aspect of that show to me is how they almost seem to go out of the way to avoid saying where they are. The homeowners will occasionally let it slip (I've heard mention of "downtown Durham" slip out from a homeowner in lieu of the usual "in the city" the hosts say)but the hosts pretend like it's a sitcom with a generic anytown location. RE is all about location. They should mention it. I don't think I've ever heard David or Hillary say the words "North Carolina" "Raleigh" "Durham" or any city/town name in the show.
I think being too specific could lost some of it national appeal.
I think we should feel proud that Raleigh's landscape and housing inventory is considered appealing enough for a national/ North American show.
It doesn't bother me with the scripted notions of the couple.
I just pay attention to the renovation and I like the English accent.
I also like when she is impressed by something, 'cus you think of her as worldly with good taste, so when she likes something in Raleigh by Raleigh folk it's validating for me, I know sounds stupid.
We've got to get her up to Louisburg when someone's cooking some chiterlings, (gag).
I think being too specific could lost some of it national appeal.
I think we should feel proud that Raleigh's landscape and housing inventory is considered appealing enough for a national/ North American show.
It doesn't bother me with the scripted notions of the couple.
I just pay attention to the renovation and I like the English accent.
I also like when she is impressed by something, 'cus you think of her as worldly with good taste, so when she likes something in Raleigh by Raleigh folk it's validating for me, I know sounds stupid.
We've got to get her up to Louisburg when someone's cooking some chiterlings, (gag).
,
Why's she worldly? Because she has a British accent?
LOL. There's a whole country full of those... wait... more than one... Imperialism.
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I would never go on that show - there is always some undiscovered issue and the improvements seem never to be what was invested. Property Brothers on the other hand is one show I would love to be on.
I would never go on that show - there is always some undiscovered issue and the improvements seem never to be what was invested. Property Brothers on the other hand is one show I would love to be on.
Yeah, wouldn't the inspection at time of purchase find the HVAC ductwork that chopped off 75% of the bearing beam that holding up the entire house?
Most of these "surprises" should even be possible.
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