RENO HOUSE #1

THIS was our first (detached) FIXER UPPER. [We experienced good fortune in real estate a few years beforehand on a purchase and sale of a tiny little condo in Schaumburg, IL as well, but that was because of the increasing market before the crash.] THIS PROJECT had more to do with intentionally renovating with an eventual RESALE in mind. You should ALWAYS renovate with resale in mind unless you KNOW with certainty that you are living in your Forever Home. THE NUMBERS We bought the 3 bedroom ranch as a foreclosure for $114,000 with a renovation loan that added $35,000 to that for us to use to fix it up. We spent closer to $50k throughout our time there since we loved the finished product and neighborhood (Gates of Lakewood/Crystal Lake) SO MUCH that we stayed for YEARS...and I fell in love with real estate and got licensed as an agent during that time too! It was a major construction zone, but had some unique and gorgeous features (hello, tray ceilings and feature fireplace!) We recently sold it for $265,000. Here are the pictures: