If you’re a real estate investor and are trying to flip a house fast, there are a few things that you can do to make the house stand out in the listings and in person. The problem is that too many sellers make renovations based on assumptions or hearsay. However, some remodeling projects could not only end up costing you more, but they could make your house harder to sell. You may mistakenly think that repairs automatically translate into more dollars when they’ll only be viewed as maintenance. Here are some of the home renovation and repair projects that will add value to your property.
A Kitchen Remodel
This one is tricky. While the kitchen is one of the most important rooms in the house, and renovations will usually make the house easier to sell, it’s also easy to go overboard.
The keyword here is modest. You don’t want to go for a luxury kitchen, and you also want to stay within the theme of the house and the neighborhood.
Not everyone wants a professional cuisine, so it would be wiser to invest in simple things like a new range, new cabinet doors, better lighting, etc. If done right, you could get as much as 120% back on your investment.
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A New Roof
Roofing is one of those expenses no homeowner can avoid. But knowing that the roof is brand new and that you won’t have to worry about it for decades is something that will be attractive to many buyers.
That’s why you should consider replacing the roof if it’s on its way out. It has been estimated that a new roof can add around $15,000 in value to a house on average. Another study by the NARI found that homeowners could make as much as 109% return on investment on a new roof.
But it’s essential that you work with the right roofing company first. You have to make sure that they’re bonded and insured, offer a good warranty on parts and labor and are established. It’s also important that you go with a local company. This way, you’ll know that they’ll still be there 5 years from now when comes the time to honor that warranty.
If you live in Southern California, for instance, and are looking for a roof replacement company, then a company worth considering is Semper Solaris. They’ve been in the business for over 20 years, and have gained a solid reputation for top quality products and service. They’re also Owens Corning Platinum Preferred Contractors, and offer up to 50 years’ worth of warranty on their work. You can find more information about the roof replacement company here.
Landscaping work is also something that could end up paying once it’s time to sell the house. But you also have to make sure that you keep things simple.
Landscaping is a very personal thing, so try to not go for something that is too personalized. For some people, just keeping the lawn clean and adding a few shrubs will be enough. Adding a tree is also a winner. Anything more than that, and you’re asking for trouble.
Bathroom Remodel or Addition
The bathroom is another very important part of the house when selling, and bathroom renovations are some of the most profitable for homeowners.
But just like the kitchen, you have to make sure you don’t go overboard. You should also think twice about moving major components around. This will add a lot more to your tab, and might not be worth it in the end.
Another thing you could do is add a new bathroom. This is especially good if your home only has one. Bathroom additions are a great investment. As a matter of fact, you could make as much as 130% back on your investment by adding a bathroom. If you’re looking for spots for the bathroom, you can consider closets, or look to see if you have extra space under the stairs.
Energy Efficient Windows
Depending on where you live, eco-friendly additions could not only help you sell your home but actually be expected by buyers. This means that you should do everything you can to make the house as eco-friendly as possible, without breaking the bank.
One of the most cost-effective ways to do so is to go with energy-efficient windows. These types of windows will provide extra insulation and will allow you to use the power of sunlight to heat your house. Less heat getting out in the winter, and less coming in in the summer will translate into savings for you and future owners.
If you want to add value to your property and sell it fast, then we strongly suggest you give those renovations a closer look. Whatever you do, always make sure that you work with a smart team, and don’t make renovations based on personal taste.