Flipping is all about adding value to a property in need of help.Today I’m sharing my secrets for the smartest things you can do to add marketing appeal to a newly-comfortable home.
Kitchen & Bath
Granite counters – granite is often expected; competing homes will have it
Modern tile that is 18″-24″
Updated cabinets – new paint or stain is usually sufficient, but very important to do
New modern cabinet hardware –an impressively high-impact, low-cost item
New light and plumbing fixtures
Bath
Everything just above, and …
New vanities and shower surrounds – old showers often just won’t look great
Interior throughout
New carpet – cleaning of old carpet often won’t pass picky home shopper inspection
New door hardware – high appeal, it looks great and the cost is moderate
Paint inside and out – no substitutes for the fresh effect of new paint
Exterior
Landscaping the front yard -don’t under-estimate great curb appeal with a little color
Too often flippers become immersed in infrastructure repair and updating and overlook the power of these cosmetic upgrades. In my long experience as a flipper this list has a good history of payback in the closing price, reducing the time on the market and moving home buyers to offer and close.
All of the materials can be found at a discount with the right contacts, and still be beautiful. This is especially true for flippers since vendors look forward to a steady stream of future business. Project partners can be selected for their ability to bring both discounted material and their own skills to the project, making these upgrades more effective and cost-efficient.
There is a fair amount of DIY opportunity with all or some of these upgrades for those who are truly handy with a tool box. But be warned! If you don’t have the skills and experience of a professional, DIY can become a sinkhole of added cost, when measurements are off by a fraction, or counters aren’t level, or other common mistakes inevitably occur. It usually costs more and takes longer to do it over than it does to do it once, professionally.
Carefully consider this list for each flip project, and take the smart route to adding value for marketing appeal, more offers and faster closings!
When you show a home, what are the items and areas that bring the most positive response from home buyers?
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