Check out this before and after demo shot. I see a lot of homes that need a lot of work. Aside from the occasional slam dunk of "all it needs is fresh paint and it's turn key", most properties have the same dilemma. That is, to gut or not to gut?
Let's be real, it all comes down to numbers. After rehabbing a couple homes you can plug in a safe bet for drywall, but if you aren't comfortable with that I have a great solution: call a drywall contractor.
There are several factors I look at when deciding whether or not to gut the house... And they are:
- The condition of the current drywall (duh).
- How much MEP (mechanical/electrical/plumbing) will need to be completed? If it needs all new, they will need to rip down the drywall anyway.
- Is there any insulation in the current walls? If not, this is probably your only time to do it.
- Are you going to replace the windows? If you are, gutting the home will give your window guys free range to frame up the window studs if they are in need of repair.
- Is the current trim in good condition. That is a major savings.
- Are replacing the interior doors? Again, they will have to tear out a lot of drywall if they are replacing the jams.
These are a few of the nuggets I look for, but as always, the numbers won't lie. If you get a home for the right price, everything else will fall into place.
Buy low, sell high.