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3 things to consider when flipping a house
Flipping houses has become a popular option with many buyers today; HGTV has jumped on this bandwagon, too, by airing multiple shows such as Fixer Upper and Fixer to Fabulous.
If this is not your forever home but just a place you want to flip or only stay a few years, this has an impact on your design choices and budget. Let’s discuss what things should be considered, included, or excluded in your flip.
Budget
This is an essential factor since it will affect your profit margin. It is recommended that you plan on setting aside 15 to 20% of the house’s sale value. While you should always create a space that appeals to a potential buyer, it does not mean you have to break the bank. Here are a few things you can do to cut down on costs.
- Planning: While this seems like house flipping 101, many people plunge headfirst into a renovation without thinking through the entire process. Write down the areas you believe need improvement and make a renovation plan.
- Prioritize: Not every area of the home needs to be improved or renovated. The most important areas are usually the kitchen and bathroom, which should be the main focus of your renovation.
- Product: If you know certain items will be needed, like appliances or flooring, take the time to shop around for the best deals. You don’t have to purchase top-of-the-line appliances or flooring.
Budget is important to us, which is why we make it a priority to discuss it in our initial consultation meeting. We know your expectations and can adjust our design to accommodate them. Let us know your plan and vision for the new space so we can prepare. Get a few more tips from Dave Ramsey here.
Design Choices
We know that presentation is everything when selling a home, but that does not mean you must have the most expensive products to create a beautiful space. When planning to flip a property, knowing what will give you the most value for your money and creating a design that will still wow potential buyers is essential. Also, be sure to pick colors and styles that will be well-received by most of your market.
- Kitchen: This is a key area of any home and should be a top priority. Cabinets are the biggest factor in this space, so it is essential to choose a style that has the broadest appeal to buyers, such as traditional, and a color that has proven to be timeless, such as whites and grays.
- Bathroom: Again, we emphasize neutral color palettes and more popular design styles. Avoid trends and bold patterns and colors. These are great for those who want to make it their forever home, but not as an investment. Do some research on options that are considered popular by a majority of homeowners.
We provide three semi-custom cabinet lines that allow you to create a beautiful space that will not disappoint buyers but will not break your budget. Our experienced designers are also aware of design styles and choices that are well-liked by a broad audience and will be sure to attract the most buyers.
To include or not
Because it is not your forever home, knowing what to include in the flip and what is not necessary can be difficult. We have a list of essentials that will increase the value of your home.
- Storage is our number one suggestion because it immediately shows potential homeowners that this space is functional. Including things such as additional shelving, enough cabinet space for storing essential items, plenty of drawers, and closet space ensures that your property will stand out.
- Light: Plan for natural light. This is becoming an increasingly important priority in the home, so make sure there are sufficient windows.
- Home office: This is no longer a nice bonus but is becoming a standard in most home designs. Including it will grab buyers’ attention immediately.
- Multi-functional: Buyers love spaces that serve multiple needs, such as a kitchen island that doubles as a dining table or a laundry/mudroom combination. This allows them to get the maximum use out of a space.
Here are a few things not necessary to include when flipping a property
- Super custom: think universal, what is something that will be helpful to most homeowners. A mudroom is a great option, but a gun rack is not so much.
- Extras: there is no need to include a double oven or two laundry rooms.
The goal of flipping a home is to increase its value by paying attention to the key areas and making them desirable to buyers. We have worked with several clients who saw their renovation as an investment and helped them achieve the most for their budget. Here is some more helpful information about flipping a house.
Connection has become a priority in the home over the last couple of years. It can be considered the most basic function of the home, as this is where we gather with family and friends to celebrate, congratulate, and comfort one another. Designing with socializing opportunities has been at the forefront of design for decades, exemplified by spaces such as sitting rooms and large dining tables. This need for connection has made a strong comeback, and designers are once again looking for ways to bring families together. We want to have a home where we can relax and easily engage with one another, but many homeowners also desire spaces that are unified while still retaining a unique character of their own. Let’s talk about how to create a home with connecting spaces.
Several variables are involved in selecting the perfect tile, including material, pattern, and color, as well as factors that influence style and placement. Tile is also a versatile and durable design element, making it a suitable option for frequently used areas. Let’s explore how you can incorporate tile in the home.
Greenbrook DesignThe kitchen tends to be one of the busiest areas in the home, and over the last year, it has become more than just a place to cook food. It has evolved into a multifunctional space where everyone gathers to perform a wide range of tasks. With so much at stake, planning a renovation requires careful thought and well-designed plans. Many designers caution against following the latest trends, but there are a few additional design mistakes they also encourage their clients to avoid. If you are considering a renovation or a new construction project, here are our top five biggest kitchen design mistakes to avoid.
Countertops are often underappreciated and underrated in the design world. They are the true workhorses of any space, as they are used regularly and withstand a great deal. We chop, pound, knead, spill, and more all over these smooth surfaces, yet they continue to function day after day. Unfortunately, they are not meant to last forever. Experts recommend replacing them every 10 to 15 years, especially if signs of wear and tear are evident, such as stubborn stains, chips, or cracks.
Walker Woodworking Sometimes, certain areas of home decor have been influenced by trends that are no longer in style and can make the space feel dated or even uninviting. Rooms also serve a specific purpose, and those can change over time. If your children are no longer living with you, their bedroom can be transformed into a craft room or even a guest suite. There are also some new things that are making their way onto potential homebuyers’ lists. We have done some research for you and discovered some of the top new items being used in home design.
Walker Woodworking
Greenbrook Design