With so many DIY walk-through on YouTube, it’s never been easier to flip a home. However, it’s never been harder to do it well.
The numbers point to a record number of homes being flipped in recent years. But, the return-on-investment numbers are going down instead of up.
To maximize your return on investment, here are a few of the areas where you’ll get the most wow factor for your budget.
A New Garage Door
Your garage door takes up about a third of your home’s exterior, so this is obviously a huge factor in your curb appeal.
To really get the most value out of updating your garage door, you need to do more than just put a fresh coat of paint on it. Buying a new modern and stylish garage door can help you see one of the highest ROIs in all home improvement projects.
Today’s homebuyers are putting a high priority on security and energy efficiency. So, check out a company like Dodds Doors to see what is possible from today’s insulated garage doors.
Modest Kitchen and Bathroom Renovations
Before you sink a massive amount of money into a total bathroom or kitchen renovation, take a step back and ask what some smaller touches could do.
Major kitchen and bathroom renovations are where most people lose money. Things can very easily go over budget and beyond deadlines, which drains your ROI rather quickly.
However, you can have a shockingly big impact by simply switching up the knobs and handles on the drawers and cupboards. You can also update the paint job will a bold new color scheme or replace the fixtures relatively inexpensively.
You may not need new appliances or a new bathtub after all.
We always talk about curb appeal because the front yard makes the first impression. But your backyard can make a more lasting impression.
The backyard is an oasis for a lot of people. This is where they want to see themselves BBQing and entertaining friends on the weekend, or just relaxing with a cold beverage while watching the kids play. Can they picture this when they look at your backyard for the first time?
You can easily paint this picture for your would-be home buyers on a fairly modest budget. We’re not talking about installing a pool or hot tub. We’re simply talking about making some landscaping touches to give you some vibrantly green grass or a calming garden.
Backyard gardening and landscaping will often show you a high ROI, and can typically be done much cheaper and quicker than a major indoor renovation.
You don’t always have to do something big to make a big impact. You may not need to take down a wall, sometimes you can simply paint it.
Don’t be fooled into thinking flipping this home will take a major overhaul. Try focusing on the things we’ve mentioned today and they could be enough to boost your asking price while shortening how long it takes you to sell.