SMART – INNOVATIVE – SOLUTIONS
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.
Greenbrook DesignThe world of interior design has run the full gamut of trends, from minimal to over-the-top and back again. Your home is meant to be your happy place, and a good design can affect the atmosphere. There are multiple styles to choose from, including modern, traditional, farmhouse, and transitional. Each possesses characteristics that make them unique in their own way, but sometimes what is offered is not enough, which is where the term mixology comes in, and no, we are not referring to the mixing of cocktails. There is a beauty when mixing and matching design styles, cabinets, and furnishings to create a space that perfectly reflects you. For a long time, designers were taught that things needed to remain within a certain realm of style in order for them to look good, but over the past few years, those boundaries have been broken down to make way for homeowners to express themselves in their own way. Out of this, there have been some new terms used to describe the shift in styles, such as grand millennial. If you like a few elements from multiple styles, then mixology may be your new best friend.
Walker Woodworking Is Biophilia Design For You? We love the looks nature inspires, which is why we have multiple products available for you to browse inside our showroom. From unique artwork to furniture pieces, we invite you to visit us and spend time browsing our 5,000 square foot showroom located in charming Uptown Shelby and find the inspiration you’ve been looking for to create the perfect environment in your home.
The world of design draws on multiple elements to create the perfect space for homeowners, a place that represents them and their particular style. Color plays a vital role in the design process, and its effects go beyond just adding a splash to the room. Color can affect our mood, communicate a message, lessen eye strain, and even play a part in remembering certain events. It also has the ability to influence the size of a room with certain colors, causing the area to feel larger, while other shades create a more intimate feel. Color selection can be a fun and rewarding process, plus it provides you with a great way to tell your story. More homeowners are discovering the beauty of contrasting colors, and this choice is gaining popularity in the design world. From two-toned kitchens to opposites in cabinets and tile, contrasting colors can spice up your design and make a stunning statement. Let’s explore more about what contrasting colors are and how they can help you tell your story.
Greenbrook Design While cabinet hardware is essential for functionality, it’s also a key element in the overall look and feel of your space. When selecting hardware, there’s more to consider than just appearance. How do you want your cabinets to open? Do you prefer knobs, pulls, or a combination of both? Should you go with cup pulls for a traditional touch or sleek bar pulls for a modern edge?
These decisions may seem small, but they can have a significant impact on both the usability and aesthetic of your cabinetry. Hardware serves as the finishing touch—bringing together the design while also making everyday tasks more comfortable and intuitive.
Walker Woodworking You are ready to begin your renovation, but you are unsure whether you want to go with custom or semi-custom cabinets. While custom cabinets will provide you with the exact fit you need for your space, they are at the higher end of the price range. Semi-custom cabinets tend to be a more budget-friendly alternative while still giving you the style and function needed for your space. Many homeowners are discovering the benefits of choosing semi-custom cabinets and are learning that they can still get the look they want while staying within their budget. Let’s talk more about what semi-custom cabinets are, the benefits they bring to your project, and some of the options we offer here at Greenbrook Design.
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