We created the ‘Buy It Right’ Residential Real Estate Consulting program because far too many people come to us to design their dream home AFTER buying the wrong property! We’ve had to turn them away because they can’t achieve their goals within their budget using the property that they bought.
What happened? They worked with a real estate agent to find them the right fixer-upper like they see on HGTV. But SURPRISE! — now the property they purchased needs WAY more money than they thought. Or worse, there are zoning issues or structural challenges with the property that prevent them from creating their dream home.
The problem is not usually with the real estate agent per se. The real estate agent is merely doing his or her job and finding a “fixer-upper.” The problem lies with asking a Realtor to do what they are not professionally trained or have the experience to do.
The highest performing and well-intentioned Realtors are not experienced in identifying the monstrous budget killers that can be hidden in any particular fixer-upper before you buy. Even a Realtor who tells you they have “flipped” houses will fall short. There’s a huge gap between flipping a few houses and professionally designing and developing a true designer home.
It’s not that problems can’t be fixed. Every challenge faced in construction can be fixed with enough money. The most important question when analyzing a property as a candidate for a whole-house renovation, expansion or new custom home build is; ‘Can you overcome the challenges a particular property has to design and build your ideal dream home within your budget?’
A successful project begins with pre-qualifying a property based on four key criteria:
1) Property details & zoning criteria
We screen the property on lot restrictions relative to your design & build goals right up front. This begins with an analysis of the setback and zoning requirements of the property to determine if they allow for your base goals to be met.
2) Analysis of existing structure
If your project is a whole-house renovation or gut-rebuild we analyze the structure to determine if there are any hidden modification costs that will kill any hope of achieving your design goals within budget. We also analyze the existing structure to determine if it will allow for the expansion, floor plan and design aesthetic you want?
3) Budget projections
Buying the wrong property will always mean you either massively blow your budget or make significant concessions to your goals ending up with a sub-par design. To avoid that situation we determine a projected scope of work along with projected budget ranges for the design, construction and project administration work required on a property BEFORE you buy.
4) Post-improvement valuation
Accurately projecting the valuation of the property when all the work is completed is the key to a successful design & build project from an investment standpoint. Whether gutting and expanding an existing home or building a new custom home from the ground up it’s important to understand what the property is likely to appraise for when completed. This creates the guardrails to help keep you from investing too little or too much in a property relative to its’ post-improvement valuation.
Our experience is what equips us to provide this much-needed service that few other Interior Designers, Architects or contractors in the US are able to match. As the principals of STUDIO 818 John-Paul and Janie have over 13-years of experience acquiring, designing and developing dated properties into designer showpieces. And John-Paul has been acquiring, investing in and developing investment properties since 1995.
With STUDIO 818 as your residential real estate consultant you get all that knowledge, experience and expertise applied to your project for your benefit right from the start. We help you avoid buying the wrong property