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.
Walker Woodworking Too much clutter can detract from your home’s wellness and leave you feeling overwhelmed, anxious, and even depressed if it sticks around long enough. It can also make it difficult to concentrate, which can affect the entire family. It’s important to set about decluttering in an eco-friendly way to ensure that you aren’t throwing out things that could be put to good use elsewhere. With so many landfills already overflowing, it’s imperative for us all to do our part and keep recycling.
Keep reading for some great tips from Greenbook Design on how to declutter your home in an eco-friendly way.
Greenbrook DesignWarmer weather is just around the corner, meaning we can finally spend more time outside doing what we love, like grilling, swimming, and sitting around fire pits. One thing that all of these have in common is that they can be done in your own backyard. Outdoor spaces are trending this year and for good reason, since they provide a change of scenery for homeowners without having to drive somewhere, plus they add more usable space to your home. Enjoy fresh air, cool summer nights, and time with family all within the safety of your own home. Here are a few reasons and benefits to adding or upgrading your outdoor space.
Greenbrook DesignColor. It is what gives our world variety and speaks a language all its own. It is a versatile element that is used in various professions such as art, entertainment, and even cooking. Interior designers thrive on color to express their client’s personality and tell their story. Color is also the common thread that ties other elements, like texture and pattern. Woven together, they create a sense of unity and influence the mood. It is fairly common knowledge that each color implies a mood, such as blue is calm, green represents growth, and yellow expresses happiness. The colors you select for your home can have an effect on the atmosphere, and more and more homeowners are looking to add a little comfort with color.
Walker WoodworkingThe kitchen sink is probably one of the most important elements in the kitchen, since it’s where we wash dishes, rinse food, and wash our hands. There are so many options, such as stainless steel, porcelain, and ceramic. Then, of course, there are multiple styles and sizes. At Greenbrook, we are always looking for new items that will meet a need for our clients, and sinks definitely are one of them, which is why we are an authorized dealer for the Karran Sinks.
Walker Woodworking Old meets new to create a blend of something beautiful, which is one way to summarize grand millennial style. While minimalism is still a popular trend, many millennials are finding comfort and freedom of expression from their beloved family heritage. Grand millennial is a combination of the new with things of the past, like that old wingback chair from grandma’s attic, and breathing new life into it through reupholstering it. This style also pairs perfectly with many people’s desire to recycle and reduce waste by repurposing existing materials. Let’s unpack this style a little more and find out if it is right for you.
Walker Woodworking
Greenbrook Design