House flipping is a creative renovation strategy that’s steadily growing in popularity. With the right renovations, the investor can see a substantial return on investment (ROI). There are several guidelines to help with the financial aspects of purchasing the home. Once you have the house, however, you’re faced with the hands-on part of the process. Room by room, we offer our best tips for flipping houses.
The kitchen is one of the most important rooms in the house when it comes to optimizing your ROI. A dated kitchen is a fast way to discourage potential buyers from purchasing a home, so the kitchen is one of the first areas you want to budget for. One important thing to consider is the appliances. A motion-activated faucet, a water softener, and an industrial stove are all great additions. Another cost-effective way to elevate the room’s appearance is to replace and/or paint the cabinets and refinish all the countertops.
When they enter the bathroom, prospective buyers immediately look for amenities they’d have to replace themselves. A luxury showerhead or larger bathtub, therefore, will make an immediate impression. Replace the toilet if necessary and install large, neutral-colored tile to open up the space.
The Living Room
Keep the living room modern, but don’t add so much personalization that buyers can’t envision themselves living in it. Update the floor with bamboo paneling and brighten the space by installing energy-efficient LED lights. To make the room feel fresh, paint an accent wall—preferably the wall that contains the fireplace, if the home has one. If you want to really make a statement with the fireplace, you can search through galleries of fireplace mantels for inspiration.
People are always looking for spacious bedrooms, so maximize what you can. Make windows the focal points by expanding them and adding window seats. Paint rooms with clean, bright colors and install the same bamboo flooring that you used in the living room. Spacious closets are usually on people’s list of requirements, so expand them if necessary.