5 Inexpensive Upgrades When Flipping a House

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Flipping homes not only entails buying and reselling residential properties. An important component of this type of real estate investment is the renovation aspect. Obviously, if investors buy rundown homes, they need to fix it up a little to make it more attractive to potential buyers.

In this case, real estate investors have to have sufficient funds to finance their flipping projects including the renovation works, also known as upgrades. However, with careful planning and the right resources, they can still save money on the repairs. Upgrades don't have to be expensive. It's just a matter of knowing the right areas of the home to highlight and choosing affordable but quality materials.

Painting walls, sidings and ceilings is one inexpensive way to upgrade a house. This is relatively cheap and very easy to do and vital to most flipped properties. There seems to be no renovation that does not involve repainting work. Keep in mind that paint is a surefire way of attracting attention and evoking emotion from prospective home buyers. Painting jobs require no special skills and you can even do it yourself along with a friend to save funds. As for the color to choose, it's best that you pick a neutral and light color to create a comfortable ambience and space in the home.

Kitchens and bathrooms are considered hotspots by many flippers and upgrading them is crucial or even a must-do. Home flipping shows on TV have also constantly pointed to the essence of updating the kitchen and bath in terms of gaining profit. One of the reasons behind this is the appeal they give to potential home buyers who may be in search of a classier home than the ones they've lived in for years or a beautiful first home. In addition, upgrading the kitchen and bath is not at all very costly and not difficult to do. Normally, only minor work is involved like installing ceramic floor tile, refinishing kitchen cabinets and updating fixtures.

Changing the flooring can reap great profits too. Ceramic tiles are recommended more than the vinyl especially for the kitchen and bathroom while hardwood is great for the living room. Laminates are a good alternative to hardwood and are cheaper as well. This job is easy and can be accomplished by flippers although a lot of patience is needed.

Changing old lighting fixtures with newer models as well as cabinet doors either in the kitchen, bath and bedrooms are also less costly to do. They involve few materials that are at reasonable cost to boot and once they're done, they give a whole new look to the house. If possible, light fixtures should be coordinated with the new color theme of the home.

Landscaping is another cheap way to upgrade a flipped home. The materials are usually very affordable and you don't have to spend on labor as the work can be done by most flippers. Remember that the front yard is the first part of the home viewed by buyers and a well-trimmed lawn, trees, healthy growing plants and flowers are definitely a great attraction. In the backyard, it evokes a quiet place to relax in for the couple or the whole family. Author of "Find It, Fix It, Flip It" Michael Corbett strongly suggests using mature plants in landscaping and installing inexpensive low-voltage outdoor lighting to improve the home's evening appeal.

About the Author: Gloria Smith

This article is brought to you by PropertyFlippingInfo.com. Get free house flipping tips and advice. Read about pro flippers like Armando Monetlongo and Richard Davis.

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This page contains a single entry by the boozwatt team published on December 7, 2007 4:26 PM.

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