In today’s world, real estate is one of the safest investments you can make, should you invest smartly. When looking to renovate your property and sell it for a profit – known within real estate as house flipping – there are no foolproof methods to ensure success. However, following these five tips will increase your chances of a stylish, chic and profitable investment.
1) Make a plan
Be prepared to fork out money when renovating your house, however, do not do this without planning down to the last dollar first. Consider the cost of a short-term loan (should this be required), utilities, material costs and labor. Always look at comparable sales in order to determine your likely selling price – do not expect any more than this. Once your plan has been made you can begin renovating and shopping for new additions to the house. Do not forget to plan ahead and book movers to help you.
2) Pay attention to the outside appearance
First impressions count! You will not be able to show off the interior of your house to potential buyers should they be put off by the outside. Consider the landscaping an opportunity to draw more people in, and do so by investing a lot of time on this part of the property. Start by removing old and dying trees and flowers. Invest in fresh grass and new plants during warmer months, and evergreens and colourful wreathes when the temperatures drop. Change the front door. This is the first thing buyers will see when entering the house, so make sure it gives the impression you are looking for.
3) Renovate the kitchen and bathrooms
Kitchens and bathrooms are consistent focal points for buyers, and often deal breakers. By tiding up these rooms you can significantly increase the price of a house. However, remember to be cost-conscious in order to still make your profit. Make sure that fixtures and appliances match the target selling rate, but more importantly, compare your house to the other homes in the property. If they all feature granite kitchen countertops and pristine appliances, should you provide the same. A smart way to instantly make your bathrooms fancier and more high-end is by installing large shower heads. These can be extremely inexpensive, and are easy to find and install by yourself.
4) Keep it neutral
Never go with personal taste in a flipped property as you could automatically put off several potential buyers. Your flip needs to be appealing to buyers, not to you. Keep the buyers happy by sticking to neutral colours in all the rooms; especially when paining the walls and laying the carper or floor. The flip will automatically look sophisticated and less cluttered.
5) Modernize lighting
Installing high-wattage lights in the house will make the house seem much brighter and inviting. Pot lights will be a high return expenditure with prices falling at around $100 and up, while chandelier lights in the dining room and foyer will give the house a chic and high-end feel – even if these are knock-off versions of desi