Rehab “Misses” are all Unique
“Happy families are all alike; every unhappy family is unhappy in its own way.”
Substitute “rehab hits” for “happy families,” and “rehab misses” for “unhappy families,” and you have the rewards — and perils — of remodeling in a nutshell.
I just saw an extensively rehabbed house — done on spec (there’s no client yet) — that is definitely in the “miss” category.
The public rooms are undersized relative to the now-enormous Kitchen; the new upstairs baths are glorious, but don’t go with any of the bedrooms (I’m still not clear which one was the master); and the lower level is a maze of newly finished rooms that feels like randomly carved up space (probably because it is).
Price cures all, and eventually a Buyer will step up who likes the value, and the fact that everything’s been updated (it also helps that the neighborhood’s an A+).
However, I’d say that the chances of “love at first sight” — that emotional connection every Buyer wants, and every Seller hopes for — are pretty low here.