Flip your Home Faster and Cheaper with These Top Tips
If you want to get on the property ladder or if you just want to become a tycoon when it comes to flipping old and vacant houses, then there are a few ways that you can maximise your investment. If you are interested in finding out more about this then simply take a look below.
Do your Homework
Before you think about flipping any property, you need to compare the house that you want to flip with other homes in the area. If you know that a property sold for a high price because it had a new kitchen, then you can’t expect to get the same price by just painting the cabinets.
Another thing that you need to do is remove any flowers, bushes or even dying trees that might be present. It also helps to trim any overgrown areas and to also replace dead grass with fresh seeds. If you want your property to look great all-year-round, then it helps to plant evergreen trees. When you do, you can then avoid having your property looking great at some times of the year, but not others.
Paint flaking or even rotted windowsills never look good. You have to make sure that you paint the back and front doors, along with the garage doors too. Broken fencing should also be replaced because if you don’t then this could cause you major issues in the future and it may even de-value the home. The great thing about renovations like this is that you can easily get it all done for a very affordable price.
Kitchen and Bathroom
The kitchen and bathroom will probably be a focal point for your buyers. You do however need to find a good balance between cost-effectiveness and aesthetic appeal. If you go down the cheap route, then your buyer will probably be able to tell and they may even be put off your property as a result. This is the last thing that you need, so make sure that you go for the average option so that you can strike that fine line.
Upgrade your Flooring and Ceiling
Again, you should always make sure that you check the neighbourhood before you decide to go ahead with getting new flooring installed. If you know that all of the properties in your area have hardwood, then you have to make sure that you don’t put down laminate. If you do, then you may end up selling your property for a much lower price. Ceiling tiles can also be added to make your room feel higher and more spacious.
Adding crown moulding is a non-structural change that you can use to easily reinvent your interior. You should always make sure that you avoid the cheaper versions from any hardware chains, as they are usually ones that you can install yourself. Sure, this may save you money in the short-term, but it won’t do you any favours over time.
Of course, it’s important to know that that flipping your home isn’t a difficult task, and when you know the upgrades you need to do, you’ll soon find that it’s very easy for you to make the most out of your investment.