close
close

With house prices skyrocketing across the country, many may wonder if any real estate deals can be found, and “Bargain Block” proves they still exist.

In this HGTV show, already in its second season, partners Keith Bynum as well as Evan Thomas trying to rebuild the iconic city of Detroit one block at a time. They buy dilapidated, abandoned homes and turn them into affordable, stylish homes that anyone can proudly call their own. They don’t make huge profits, but that’s not what they’re doing: their goal is to make a difference for cash-strapped homebuyers and the communities they serve.

In the episode “Surprises of the 1950s” they remake not one, but two at home next to each other. Both houses are 1200 square feet with three bedrooms, one bathroom and two floors, built in the 1950s. But other than that, their stories are completely different.

See what’s going on with these two houses that ended up with some very unique changes that will teach you some great tips that you might want to try for yourself.

Renovation of houses nearby makes sense

The first house they buy is a real remodeler that sells for just $25,000. They expect to invest $70,000 in repairs and then sell it for $110,000 for a profit of $15,000.

Reno house from the 1950s before
1950s house before renovation

(HGTV)

When a neighbor sees the guys working on a small bungalow, he approaches, tells them he’s tired of working on a renovation project right next door, and asks if they’re interested in buying it from him.

This house next door costs $40,000, which is more than they usually spend, but Thomas sees the price.

“Whenever we can get houses that are very close to each other, it just makes it easier for us to sell because we create our own offerings and they have to use that because it’s literally next door,” he explains. .

___

Watch: ‘Unsellable Homes’ hosts talk about design trends that are still relevant today

___

The whole process of renovating both houses is easier and cheaper because the close proximity allows them to work simultaneously and share common materials and equipment.

They plan to spend $50,000 on this second renovation, some of which is already done, and sell the house for $120,000, making a profit of $30,000.

The house next door
Neighborhood before renovation

(HGTV)

A bad roof can damage floors and walls.

A hole in the roof forced the removal of this wall.
A hole in the roof forced the removal of this wall.

(HGTV)

Bynum and Thompson note that the main structural damage to the first house is a large hole in the roof directly above the living room. They know that it will take more than just patching to fix this problem. Rain and snow poured in, the wooden floors buckled and the walls rotted. This means they will have to replace both floors and walls, in addition to the roof and ceiling.

“Every time we think we are doing well and doing well, you hit the wall with a hammer and suddenly everything around you collapses,” says Thomas.

These possibilities should always be taken into account when betting on an old house – you really never know what you’ll get.

Get rid of unnecessary doors whenever possible

Expand the kitchen by removing the door.
Expand the kitchen by removing the door.

(HGTV)

In both houses, the partners were able to remove the second interior door to the kitchen, as the doors were almost right next to each other anyway. Who needs it?

Instead, they wall up the door, move the stove to this new wall, and surround it with top and bottom cabinets. The kitchen has become much larger and more practical.

Try sticking the tile instead of tearing it off

Laying new tiles on old tiles
Laying new tiles on old tiles

(HGTV)

Don’t like old tiles in the bathroom? You don’t have to rip it out.

Bynum says that if there are no cracks in the tile wall, you can cover the tile by gluing new tile on top of the old one. This saves time and money because you don’t have to do a confusing and complicated demo.

Support for local suppliers
Support for local suppliers

(HGTV)

When it’s time to landscap, Bynum and Thomas head to Detroit’s eastern market for plants and flowers. There they come across colorful flowers being sold Bob Pintera third-generation salesman whose grandfather started his business there in 1926!

“It’s always fun to meet generation after generation of suppliers and help support their families who have been here for a very, very long time,” says Bynum. “We like being able to buy local products. Any time we have the opportunity to support Detroit, we definitely want to do so.”

How does this block of deals come about?

Because they started with it earlier, the fix-up they bought for $25,000 hits the market first. They put it up for sale for $110,000 after spending $75,000 on repairs and manage to make a $10,000 profit.

Renovated house in Detroit
Renovated house in Detroit

(HGTV)

A few weeks later, they put the house next door on the market for $120,000, having just proven they could get around $100 per square foot for a renovated home in the area.

Completely renovated house next door
Completely renovated house next door

(HGTV)

The second house has yet to be sold by the time the episode airs, but there is huge interest. The Bargain Block team is confident they will receive the full asking price and are now ready to move on to the next block.

By them

Leave a Reply

Your email address will not be published.