If you own or have recently bought a low-value property, then you may want to consider flipping it. While many people make lots of money flipping houses, others do not consider the process carefully enough. To help you to avoid some of the mistakes that those others may be making, here are some things you may want to consider in order to increase a property’s value.
Spruce up the Exterior
Painting the house can greatly increase its value. Install low-maintenance landscaping. Along with that, adding a pool and keeping up with pool maintenance can help to increase the buying value. Some properties may also benefit from a deck or patio with easy access from the kitchen—doing this can extend the dining space during the warmer months which is perfect for hosting parties for friends and family. In order to fit everything you want to include, consider diving the property into zones that are meant for certain activities. For example, one area could be for the pool, another for socializing on the patio, and the rest could be a grassy area where the kids could play.
Consider Kitchen Workflow
If the low-value property has older appliances, then upgrades with energy-efficient appliances often help a home sell for more. A double sink along with a good dishwasher can be very helpful as well. You should also think about workflow so that everything can be accomplished in a reasonable manner and multiple people can be in the kitchen helping with meal prep without it being too crowded and making it so that people keep running into each other. Also, letting in as much natural light as possible could make this area of the home more attractive for potential buyers.
Take a look at the shower and see if it needs to be completely replaced or if new hardware or a new shower door will increase the bathrooms’ appearance. Putting in a bathtub where there was just a shower often allows you to sell the home for more—it will also be more attractive to families as many would prefer to bathe their children in a tub rather than a shower. Separating the commode and bathtub area from the vanity area can be a big selling point to as it would make it so that more people could use the bathroom space at once—this can be a big selling point to attract families to buy your house in the future.
When remodeling a house to increase its value, it is incredibly easy to implement your own style. This can be a mistake as it may make it hard for buyers to see their own style in the home. Instead, choose neutral colors to paint the wall. Resist the urge to install unusual textures in the home. Keep lighting styles as natural as possible as well.
Upgrade the Basement
If the home has a basement, finishing it can often pay dividends. Consider installing a home theater there or a family game room. Many find a small kitchen with a min-refrigerator and microwave an asset. Installing easy to clean carpet can help to make the area look more attractive. Choose neutrals so that you keep the area inviting to everyone.
Use these ideas and your own creativity to upgrade the value of a property. Then, you may find buyers flocking to buy it.