Whether you’re a homeowner looking to sell your old home or you’re in a fix and flip business and need to sell your property fast, it’s important you know how to make your home look its best so you can make the best profit. There are many things you can do to get your property sold at a reasonable price. This is your comprehensive guide to get you there.
Find the Right Property
Fix and flippers beware—remodeling a home is no easy task. If you want to raise the home’s value and avoid a flop, make sure you do thorough research on what you can and can’t do to your remodel. Many people who invest in a fix and flip venture acquire loans that accrue interest and have strict rules.
If you’re looking to acquire a property in a certain area, plan accordingly. Don’t buy a home just because it’s cheap, especially in profitable real estate markets like New York or Los Angeles. Instead, look for something that has a lot of potential for the price. Consider a hard money loan for a quick fix; the right private investors will help you negotiate a loan to work fast. Look for local lenders in your city; for example, you can use Los Angeles hard money lenders to find experts with experience in your real estate area.
Hire a Certified Home Inspector
Before you do anything else, hire a certified home inspector to make sure everything is in working condition. A home inspector will find things like dry rot and termites, and they’ll warn you of these conditions before you start renovating. The last thing you want is to tear down a wall only to find that termites are in your walls and you’ll need to halt your project.
Plan Your Remodel
If you’re planning to sell soon, consider which renovations are the most important. You may have always dreamt of adding a new room addition to your old home, but now may not be the time. The key is to strike a balance between what you want and what you can afford, and some renovations add more value than other. Installing an in-ground pool may be fun, but is it cost-effective for your goals? Reach out to consult with a contractor or real estate agent and get the best advice on what’s doable for your property.
Take on One Project at a Time
Rome wasn’t built in a day, and probably neither was your home. You can’t do your best if you try to remodel everything at one time. After you draw out a plan, work on one project at a time for maximum results. If you decide to work with a contractor, you’ll fair an easier time getting work done. Create a timeline for yourself between now and when you plan to sell, and check off your projects accordingly.
Upgrade the Kitchen
The number one upgrade that should be at the top of your list should always be the kitchen. Whether you need to tear out the whole kitchen and start over, or just add a fresh new coat of paint every detail makes a big difference. There’s no need to get too fancy here—substitute real marble for faux marble, use stainless steel appliances, and keep it minimal.
Make Your Property Spic and Span
Clean everything to prepare your property to sell. It may not add much to the home’s value, but it’ll make your property more appealing if you’re trying to sell quickly. This means cleaning the baseboards and the crown moldings, cleaning the carpet and power-washing the outside.
Crank Up the Curb Appeal
Nothing entices buyers more from the beginning than a beautiful yard. Watch your home’s value rise when you put down a fresh lawn and install a simple garden. Make your porch pop with new paint on the front door, a porch light, and a new welcome mat to greet guests as the walk in. And don’t forget the backyard–spruce it up so it gets positive attention too.
Raising your home’s value will help you turn a significant profit in the long run should you choose to sell. No matter whether you’re a homeowner or a home-flipper, follow these tips and you’re sure to turn a much higher profit than you anticipated.