Just reading these post and seeing a few of the problems in this market, I just wandered what drives people to want to do rehabbs? Do most rehabbers know how to flip properties just using contracts?
The adverage assignment is just 2-7K but after a good rehab the seller should profit 20-30K or more. Which would you rather make? Its also fun to experience the transforamtion.
They may not have "lowered" the ceilings, that may have been all they had to work with. Sometimes attics are converted into living space without really being adequate. Also certain FHA, HUD, and other lenders as well as rental inspectors will not go for ceilings under 7 feet. A colleague had to put a dormer in once to get enough sq ft at 7 feet or higher to have an upstairs room considered as a legal bedroom.
I have seen in the older homes that had a extra high ceilings them being lowered either for looks, so it does not look like a huge walk in fish tank. Or for heat bills. Not quite sure. Just know there was some beatiful old molding between the two ceilings. But once it was lowered it look like a normal height ceiling. It was prior to that it did not. it looked extroardinarily high!!
Maybe to hide ac duct work, plumbing, electrical etc...I just purchased a home that had suspended ceilings, the former owners figured it was a good idea to add the classy look of low ceilings and making the entire home feel like a brand new office.
Some really old homes were originally built with 7 foot ceilings, for heating reasons.
Tall people might have an issue, or people that want ceiling fans. My in-law suite has 7" ceilings, I have no idea why as it was built in 1930, but other than lacking fans nobody has minded at all.
The adverage assignment is just 2-7K but after a good rehab the seller should profit 20-30K or more. Which would you rather make? Its also fun to experience the transforamtion.
They may not have "lowered" the ceilings, that may have been all they had to work with. Sometimes attics are converted into living space without really being adequate. Also certain FHA, HUD, and other lenders as well as rental inspectors will not go for ceilings under 7 feet. A colleague had to put a dormer in once to get enough sq ft at 7 feet or higher to have an upstairs room considered as a legal bedroom.
I have seen in the older homes that had a extra high ceilings them being lowered either for looks, so it does not look like a huge walk in fish tank. Or for heat bills. Not quite sure. Just know there was some beatiful old molding between the two ceilings. But once it was lowered it look like a normal height ceiling. It was prior to that it did not. it looked extroardinarily high!!
Maybe to hide ac duct work, plumbing, electrical etc...I just purchased a home that had suspended ceilings, the former owners figured it was a good idea to add the classy look of low ceilings and making the entire home feel like a brand new office.
Some really old homes were originally built with 7 foot ceilings, for heating reasons.
Tall people might have an issue, or people that want ceiling fans. My in-law suite has 7" ceilings, I have no idea why as it was built in 1930, but other than lacking fans nobody has minded at all.