You May Be Saving a Few Hundred on the Front End-But Costing Yourself Practically Thousands in the Back End
If granite and laminate (Formica) countertops were the same price which would youe have installed in your rehab?
The answer is undoubtedly granite.
If you are a Michigan real estate investor who is currently buying, repairing, and selling homes you must fit granite into your budget. I’ve personally seen granite used in kitchens from Eastpointe and Hazel Park all the way up to Shelby and West Bloomfield. Initially I was taken aback at the application in the sub $100,000 properties, however it’s very hard to argue with success-especially in the challenging southeast Michigan market. In recent rehab projects we’ve been quoted as little as $600 for the upgrade to granite over laminate…an absolute no brainer.
As tough as it is to sell retail, not impossible-just tough, you have to give yourself the best chance for the prospective homeowner NOT to forget your listing. Picture this, a buyer and their agent decide to look at half a dozen listings this Saturday. Your house happens to be one of them. Why is that buyer going to remember you over the competition? Easily, most of your competition had to do a quick once over with some Pledge and the vacuum while rushing themselves, their kids, and the dog out before the buyer and agent arrive. Now when they get to your professional rehab and walk in their greeted with the smell of fresh paint, shiny hardwoods, & a clean empty pallet for them to imagine themselves living there,. Best of all when they turn the corner to the kitchen they are greeted with the classy, sleek look of granite. They will be the only one of their friends with such impressive countertops.
At a recent REIA of Macomb Main Event, an expert re-modeler was asked onstage “If an investor is doing a rehab to sell no matter what neighborhood, what’s the one thing you would tell them not to skip?” He answered “Granite, definitely granite”.
If the information above helped you and may mean bigger profits on your next project get out to The REIA of Macomb, Michigan’s #1 Real Estate Investor & Entrepreneur Community. You’ll find a ton of resources, answers to your real estate investing questiosn, and most importantly like-minded motivated investors who want to succeed in Michigan’s foreclosure boom.
See you in the trenches,