Home ownership is usually a distant thought for most new college grads. (An apartment share with many roommates or a return to their parents' homes is more likely.) But two enterprising friends saw a different picture after graduating: Buy a house, make a few repairs and then sell it for a profit. While many things could go wrong with this scenario, we're happy to report that this is one flip that went completely right. This home renovation is one for the books, folks!
According to Reddit, the two friends purchased the outdated house near Toronto's Little Italy district in 2009 from the couple who previously owned it for thirty-five years. As one would expect of newly graduated homeowners, financing their ambitious project posed a major challenge. Despite graduating debt-free thanks to odd-jobs and scholarships, the Reddit user who shared this story recounts: [I] lived with my parents after University and saved like crazy to afford the down payment. Borrowed a bit from our parents to get us started on renovations."
Coming in at approximately 1650 square feet (excluding the basement,) the duo gutted, revamped and transformed the entire property from the bottom up and inside out. The Reddit user admitted that he initially "didn't know anything about houses," but after handling high-level DIY projects such as creating a concrete curb, building an outdoor deck, installing floorboards, re-plumbing an entire bathroom (the list is endless, really,) it's safe to say he's become quite an expert on the subject.
Aside from project-specific assistance of plumbers, electricians and tile installers, the grads completed an impressive renovation after three years of after-work and weekend labor. The Reddit user revealed that in 2012, they sold the newly revamped house for 172% of what the house originally cost -- all within two days of being on the market. Not shabby at all.
Interested in working on a DIY project of your own? Before you start investigating this weekend's projects, here are a few that we recommend you avoid.
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