“The Right Things Wrong”

How do you know when you’ve found a home that’s a good candidate for rehab/remodeling?

In the words of one of my favorite contractors, Phil Raskin, “it has the right things wrong.”

Definition: the home has good bones and a nice floor plan, but discrete, correctable problems.

Black, White ” and Gray

So, what are some examples?

An ancient gravity furnace (“octopus”), decades-old wallpaper, or prehistoric appliances.

Even better: all three.

By contrast, examples of “the wrong things wrong” include: a foundation problem; “location issues” (in the shadow of a busy freeway); an incoherent floor plan; and/or poor construction quality.

P.S.: a bad odor would be . . . an example of something that’s in the gray zone.

If it’s attributable to a single, obvious source ” yes.

If it’s pervasive ” for example, animal odors ” the risk that it will linger even after extensive remediation efforts is much higher.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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