When purchasing a fix and flip property, it is important to fix cosmetic issues. Appearance is an important selling point. If you can freshen up the property and make it aesthetically pleasing, it will be easier to move the property, as well as make a return on it. These little changes make a huge difference in a home’s marketability with limited investment dollars.
Scrub a Dub Dub
Never underestimate the power of a good clean. Fixer upper houses can be sold in varies states of clutter, filth, and disarray. Make sure to clean out any junk left behind by the previous owner. Invest in some good quality cleaners and disinfectants. Be sure to rent a carpet scrubber and clean all rugs thoroughly. Even older carpet can be made to look much better with a deep cleaning. Taking off a layer of filth is powerful in making the home look much more appealing. RepaintA fresh coat of paint can freshen up an out of date home with ease. Covering over unappealing colors, marks, and scratches will instantly spruce up any room. White or neutral walls are a great choice for those looking to resell.
With newly painted walls, nothing is more of an eye sore than old, dirty, and discolored light switch and outlet covers. A few dollars spent to replace all light and outlet covers is a wise investment.
Install New Flooring
In rooms where flooring is outdated or beyond the point where it can be cleaned up, installing new flooring will significantly increase a flip’s value. Wall to wall carpet in appropriate areas such as bedrooms and the living room can create a cozy, warm feeling. Hardwood, laminate, and fiber flooring can be great options for kitchens, bathrooms, and other high traffic areas.
Take Time to Landscape
Landscaping can be invaluable in sprucing up a home’s appearance. The outside of the home is the first thing a potential buyer will see when they pull up for a showing of the house. Within a few seconds, people form their first impression. If the outside of the home presents a favorable first impression, the potential buyer will be more excited to view the inside of the property.
Putting your investment property on the market during the spring or summer will be crucial to making the most out of your fix and flip. The demand is generally much higher during these seasons, whereas, it is difficult to sell during the winter months, often forcing houses to be sold well below market value.