When flipping property, every project is unique. However, there are some specific renovations and upgrades to include to add the most value to the home. To make the most of your fix-and-flip property sale, focus on renovation projects with the best ROI. Here is a list of some projects to prioritize in your flip:
Curb Appeal
A simple place to begin with your renovation is the outside of the house. Cleaning up any overgrown landscaping and planting new trees and shrubs will improve the curb appeal and boost home value. Other outside projects to consider include replacing or refreshing the front door and giving the front porch or patio a makeover. Also, don’t forget that power washing can go a long way in improving the look of the exterior of a home.
Kitchen Upgrades
It’s tempting to blow your budget on a complete kitchen renovation. However, if your focus is ROI, choose certain features or projects to prioritize. For example, add a new stain to old cabinets, replace the flooring and upgrade any appliances that need it. This will help you stay in budget while still adding value to the home.
Bathroom Refresh
Even minor bathroom remodels can yield huge ROI. Unless the plumbing needs major repairs or upgrades to be functional, you can deep clean and replace fixtures to give the bathroom a whole new look for less. Try updating the lighting and adding a fresh coat of paint to the walls.
Finish Unfinished Spaces
Does the home you’re working on have an unfinished basement or attic? These are perfect places to boost value and maximize your returns. If you can add more square footage, it will go towards a higher selling price. Finishing a basement may require a contractor for help with structural features and insulation. However, once these spaces are finished, they’ll be features worth showing off to potential buyers.
If you want to make a profit on your flip, sticking to your budget is important. However, it’s also important to choose the best renovations for increasing value. Consider these options as you plan your next project.
About the Author
Pablo Torres
Pablo Torres is a qualified Real Estate Agent with over 10 years experience in real estate sales, due diligence and contract negotiations. Knowledgeable of South Florida neighborhoods. Currently, Pablo focuses his skills on all markets in the Miami metropolitan area.
He has the ability to understand sellers, buyers and renters needs with excellent communication. Fluent in English and Spanish with working knowledge of Portuguese. Pablo has impeccable reputation and a passion for real estate.
He graduated with a degree in International Business from Florida International University (1998) and a masters in business administration from Nova Southeastern University (2003). He had embarked on a career in commercial banking before being driven to switch to one of his passions-real estate.
Dedication, perseverance and punctuality allowed Pablo to sell different types of properties. His expertise with South Florida's cultural diversity has allowed him to sell real estate to both buyers and sellers.
Part of what makes Pablo so successful is his dedication to exceptional customer service and his devotion to their needs, whether they are buying or selling properties. Pablo has many repeat customers who cite his willingness to work long hours to resolve the toughest issues, as a reason why they stick with him. Torres integrity, attention to detail and careful handling of a transaction, exceeds their expectations. Sellers know that Pablo's extensive and personalized marketing strategies, means that their listing is seen by most buyers.
As a real estate professional, Pablo has the tools to represent your interests in virtually any transaction. Pablo's ability to interview, reason and figure out the smallest details makes every successful transaction a seamless process. Pablo is the right real estate professional to hire.
