There comes a point in every home flipper’s career where they survey the run-down home they just bought, put their hands on their hips, and think to themselves, “Where on earth do I begin with this renovation project?” If you’re new to house flipping, you’ll probably ask something to that effect since it’s your first time tackling such an involved, grandiose investment project. Even seasoned home flippers scratch their heads wondering how to approach renovations, and that’s after taking the time to find the right property to invest in.
Fixing It And Flipping It Isn’t Always Easy, But We Can Help!
So, how can you “fix it and flip it” with success without breaking your back — or frying your brain — in the process? The answer to that question depends on the type of home that you’re renovating as well as the age, current condition, and plenty of other factors. However, our private money lenders for real estate are here to help provide you with some general renovation ideas to get you started.
Private Funding For Real Estate Starts With Private Funding Consultants
As your total resource for all things related to real estate investing, our team walks you through the entire process of flipping a home by helping you find properties worth investing in, funding your purchase via house flipping loans, and ultimately helping you successfully flip your home through real estate marketing. With Private Funding Consultants, flipping a home truly is as simple as finding, funding, and flipping!
Feel free to visit our homepage to download a free preview of our newest book, 7 Deadly Sins of Real Estate Investing. Otherwise, learn more about our services by visiting here. Continue reading below for some worthwhile renovation ideas!
Always Keep Value In Mind
When considering just about any type of home renovation project from the master bathroom to the laundry room, you’ll want to make sure that the time, money and effort you’re putting into the house will actually pay off in the long run. If what you’re doing isn’t going to add to the resale value of the house, then what’s the point of going to all of the trouble in the first place?
According to the National Association of Realtors, here are the most beneficial home renovation projects that are most likely to add significant resale value to your property:
- New siding
- Kitchen renovations (new countertops, cabinets, energy-efficient appliances, etc.)
- New windows
- Upgraded bathrooms
- Refurbished decks
- Other energy-saving installments
All things considered, think to yourself: “Where are people spending the most time in a home?” Typically, the bedrooms are where people spend the most time given sleep hours, with the kitchen and bathrooms to follow. That’s why it’s important to focus on…
Though a modern kitchen and updated bathrooms are sure to help sell your home in a competitive market, future occupants are naturally going to spend a lot of time in the bedrooms. Replace the carpet or flooring if necessary, especially in the master bedroom. Energy-efficient windows that insulate well are worth considering, and you’ll probably want to upgrade the window coverings and lighting fixtures as well. All of the houses’ bedrooms should be warm, inviting places where people actually want to spend time.
How Can The Kitchen Be Improved?
The kitchen is often regarded as the heart and soul of a home, so it shouldn’t be overlooked! Take a good, hard look at the existing space and ask yourself how it can be improved. If the layout is pretty decent, maybe things just need to be upgraded or even just refurbished. For instance, the cabinets may just need to be refinished or painted instead of being outright replaced, saving you a significant amount of money in your renovation project.
However you choose to improve, optimize and modernize the kitchen space, just make sure that it’s family friendly, especially if you’ve purchased a house in a residential, family-friendly area. This means properly grounding electrical sockets, installing a slip-resistant floor, and getting countertops with rounded edges.
Ideally, people won’t be spending nearly as much time in the bathroom as they will be in the kitchen or the bedroom. However, the bathrooms in the home — especially a half bathroom on the main level — should be an inviting space for guests and homeowners alike. Take a good look at the tile on the floor, the condition of the toilet and sink, and the shower or tub area if you’re renovating a full bathroom.
Needless to say, if you purchased a home so old that there’s still carpet in the bathroom, that simply must go. Who thought that carpet in the bathroom would be a good idea, anyway?
Keep Your Personal Sense Of Style Out Of Your Renovations
Remember, this is not where you live despite the fact that you do currently own the home. You’re renovating the home’s space for other people to eventually live in it, so you’ll want to keep the style relatively neutral but likeable for the future family that moves in. All things considered, utilizing a neutral design style will help appeal to the largest buying audience, which is important to the success of eventually flipping your home.
Get Help From Private Funding Consultants Today!
Flipping a home isn’t always easy, but you don’t have to navigate this experience alone. Let the team at Private Funding Consultants help with private funding for real estate, real estate marketing, real estate market analysis, and more. Contact us today to get started!