5 Remodeling Tips for House Flips
Fixing and flipping a home may seem like a pretty simple concept: buy a house that needs work, fix it up, and sell it for a profit. But really the process isn’t so easy. One key to fixing and flipping successfully is knowing how to remodel it so that it appeals to future buyers. This can be tricky since most homes that are flipped are bought run down or renovated, and can require heavy work.
Success Path Education provides essential remodeling tips to help investors earn more money:
Know your market
Before you begin remodeling, know which projects will yield the most return on your investment. Start by familiarizing yourself with others homes in the area, the layout and structure, and the interior. Consider the type of neighborhood you’re in — is it middle class or a more affluent neighborhood? This will help you know and understand which remodeling jobs you want to do, and they type and quality of material to use.
Pay special attention to the kitchen and bathrooms
Because kitchens and bathrooms can make or break a house, they deserve special attention.
As soon as potential buyers look at a home, the first place they gravitate towards is the kitchen. A kitchen that is too small or outdated can easily turn away buyers. Consider the layout of the kitchen and if the cabinets and countertops need replacing. Also, while the kitchen floor may not need to be replaced, if it does, consider the wall color when selecting a floor color. Keep in mind that you can never go wrong with a neutral color.
In regards to the bathrooms, the great thing about them is that they don’t need to be extravagant to look nice. Even size doesn’t matter much — unless there is only one bathroom in the entire house. Since no one wants an old toilet, toilet replacement is a must. Next consider the vanity and sink. Unless they’re in tip top shape, it’s a worthwhile investment to replace them and have a modern cabinet and sink. Because the most important part of the bathroom is the shower or bath enclosure, ensure the tile is new and modern.
Inspect and replace plumbing lines
If the plumbing is still in good shape, there is no rust on the pipes or in the water, it may be worth it to leave it in place. But always keep your potential buyer in mind. If you can afford it, new pipes are worth it.
Check the roof
The roof keeps the home protected, so check to see that it’s in great condition and will do just that. Even if it looks like it’s in good shape, it never hurts to have a professional look at it in case there are any broken or damaged parts.
Get rid of carpet and expose hardwood
People love hardwood floors because they are stylish, authentic, easier to clean and maintain, and last much longer than carpet. You may consider keeping carpet in bedrooms, but to increase the value of the home, definitely get rid of it in main rooms like the living room or family room.