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6 Ways To Flip Your House For The Highest Return On Your Investment

Posted On Tuesday, 10 May 2022 18:51
6 Ways To Flip Your House For The Highest Return On Your Investment

Today’s real estate market is definitely one for sellers. Even homes that need a face lift are selling for far more than they’re worth. It’s the law of supply and demand, and with buyers outnumbering sellers, it’s to your advantage to make some improvements before you list your house. 

While there are certainly challenges related to remodeling, if you can find a way to make it work, it’ll be worth it when it comes time to sell. Here are 6 ways you can flip your home with the highest return of investment.

Give Your Kitchen A Facelift

Kitchen remodels are the most expensive jobs when it comes to home improvement but they also yield the highest return. You don’t have to tear apart your entire kitchen either. If you have a small budget, start by painting your cabinets and adding new hardware. You might find that’s all it takes!

For folks with a large budget for flipping, consider expanding your kitchen space if it’s tight, provided you have room to knock out a wall. Make room for a fancy kitchen island, a walk-in pantry, or larger appliances. 

Speaking of appliances, upgrading to stainless steel is a great investment. People are drawn to shiny things and even an outdated kitchen with a fresh coat of paint, new hardware, and upgraded appliances can attract buyers. 

Flush Your Old Bathroom Down The Toilet

Well, not literally. The second most expensive remodel job is bathrooms. Like kitchens, though, people are drawn to fancy bathrooms. If your budget allows for it, toss anything that’s outdated. Clunky tiled countertop? Out with it. Walk-in shower with gold trim? Get rid of it. Shag carpet? Yuck. 

If you can’t afford to gut it, consider updating the vanity at the very least. If you can’t replace it, paint it. And get rid of any finishes that are glossy. Matte or brushed hardware is in style right now and oftentimes just replacing faucets, mirrors, and shower heads can boost your bathrooms appeal. And nothing brightens up a bathroom like a fresh coat of paint.

However, if you only have room in your budget for one update and your bathroom is carpeted, do everything in your power to put new flooring down. Carpet in the bathroom is a cesspool for bacteria and mold. It’s not the 70s anymore. 

Boost Your Curb Appeal

One of the lowest remodel costs that doesn’t necessarily add value, but will attract more buyers, is landscaping. It doesn’t have to be fancy either. Throw some mulch and flowers down around your mailbox. Trim overgrown hedges. Add new mulch to the existing landscaping and around any trees. A little goes a long way. 

If you wish to increase value and have the budget for it, consider replacing your driveway or upgrading to a stone sidewalk. These things are costly but they can add value and leaving things looking dismal and sad will deter potential buyers who judge books by their covers.

Add A Slice Of Paradise To Your Backyard

Backyard patio remodels, on the other hand, do add value. They’re costly, though, and it’s not a project you’ll want to cut corners on. For those of you with a limited remodel budget, take care of an existing deck first. Replace or restrain worn planks and make sure the steps and handrail aren’t falling apart. It’s not a tremendous value-added job but it’s more appealing. 

For those of you who have a large budget, consider hiring a landscape design company to install a stone patio or outdoor kitchen and pergola. These are highly desirable features and are bound to fetch a higher price on the market. 

Make Your Home Accessible

When it comes to buyers, they come from all walks of life, including those who have mobility limitations. Most new homes have accessible hallways and doorways, but older homes are generally narrower. If you have the budget for it, meet with a contractor to examine areas of your home that can be made more accessible. 

Can your front stoop have a ramp instead of a few stairs? Do you have money to install a zero-entry shower? Can your kitchen countertops be lowered if you’re replacing the cupboards in your remodel? These changes can be costly but a handicap accessible home fetches a higher price. 

Think Smarter

Last but not least, making your home SMART not only makes it look fancier, it also boosts energy efficiency. Upgrades to thermostats, locks, appliances, and even lighting can take your home to the next level at a relatively low cost. 

These are additions that can be easily incorporated with larger projects, too. If you’re already upgrading appliances, they’re likely equipped with smart technology. When you’re replacing fixtures, installing smart light bulbs is a no brainer. Updating your HVAC system? Install a smart thermostat to get the most out of your new heating and cooling systems. People are drawn to technology so any upgrades are bound to attract more buyers. 

While none of these upgrades are necessary, no matter your budget for flipping your home, you can make improvements that will add value and attract more buyers. Good luck and have fun!

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