Flipping houses can be an incredibly lucrative real estate venture, but only when you focus on the updates that will be most valuable to potential buyers. Making a responsible investment means keeping your sights set on your return on investment (ROI) with every single project that you take on.
Fortunately, renovation experts have identified which updates will maximize ROI – and they are surprisingly easy to do! Here are 5 of the top upgrades that will help improve the value of your fix-and-flip property.
#1 Spruce up the exterior curb appeal
Making a strong first impression on potential homebuyers is critical to their interest in the property, and that starts the moment they pull into the driveway. A negative first impression upon arrival is hard to ignore, which means that one of the best upgrades when flipping a house is upping the house’s curb appeal and making sure the landscaping is well manicured.
Easy cosmetic fixes to the house itself – like power-washing the siding, repainting the trim, and changing out old hardware – can make a huge difference. Installing outdoor lighting, planters, or shutters are additional ideas to make your home look more inviting.
#2 Focus on the flooring
People want their living spaces to feel new, and old carpeting has the exact opposite effect. If you have the budget available to replace all carpeting, it’s definitely a smart investment. Plus, there are plenty of less-expensive flooring options out there that will look much nicer than carpeting without breaking the bank – such as linoleum, vinyl, or laminate.
If the house already has wood flooring, it’s wise to sand and refinish them so that they look brand new. Stylish and durable flooring is undeniably one of the easiest ways to add immediate value to a property.
#3 Update the hardware and registers
A simple upgrade you can make when flipping a property is to update the home’s hardware and registers. For example, making sure the hardware in the kitchen including all handles, knobs, and pulls are not only a contemporary style but match is a simple detail that will matter to potential buyers.
Also, if you want to add a classy touch to your floors and make them stand out, you can easily update the registers to ones made from well-crafted, high-quality materials. Small fixes like these can have a real impact on buyers, showing them your level of care.
#4 Pay special attention to the kitchen
They say that kitchens and bathrooms sell homes, so you’ll want to devote extra effort to making these rooms extra fantastic. The kitchen in particular is the heart of the home, and there are easy fixes you can do that will wow potential buyers.
Some ideas? You can upgrade the appliances so that they are shiny and modern. You can install new lighting fixtures to make the space really shine. You can replace the cabinet fronts rather than the whole structure. And don’t forget a new coat of paint! Repainting the kitchen a color that’s bright and airy will make the room feel spacious and open.
#5 Upgrade the doors
Oftentimes, the front door of a home will show significant signs of wear. When fixing up a property for resale, a new front door can be a huge value add that potential buyers will take notice of immediately.
Even if you don’t install an entirely new door, you can upgrade an older one by refinishing it and repainting it a bold statement color – like navy blue or emerald green. Additionally, replacing interior doors is also a good move, especially if the existing ones don’t latch properly or are too thin to dispel noise.
Empowered with the best upgrades to do when flipping a house, you’ll soon be on your way to investment success.
Want more low key upgrades? Test these rental-friendly refreshes.
