We were just wrapping up that project and getting it listed as a rental property. During the process of moving from the Davidson Colonial House into the Davidson Farmhouse and starting our renovations we got hit with the Covid-19 pandemic which caused a lot of uneasiness since we were now committed to this project and we had a lot of money on the line already invested in the purchase of the property and already paying deposits for contractors to purchase materials. We had no choice but to push forward.
We decided to make this property a modern farmhouse style by knocking out some walls to create an open concept living area. We decided to replace the floors with some beautiful Asian Walnut hardwoods through out the entire downstairs, put in brand new pearl grey cabinets with a custom microwave built-in, new quartz counters, a farmhouse sink, range hood, backsplash, pendant, chandelier, recessed lighting through out the downstairs, a new coat of paint, and a barn wood door to create a new office space.
We lived in this property as we renovated it thinking we were going to stay put for awhile. Unfortunately we had some pretty big life changes coming our way and the home was no longer a good fit for us. We were watching what the Davidson housing market was doing around us and we decided to go ahead and just sell the property as a flip. Fortunately by this time Tehane had her real estate license so we had some serious cost savings on the purchase and sell of this home.
Purchase Price: $440,000
Rehab Cost: $35,000
Sell Price: $540,000