If you have a love for transforming run-down properties into beautiful and elegant homes, then you might find house flipping to be the perfect pastime. Of course, it can also become a lucrative career or business opportunity for you as well. It takes a lot of creativity and an eye for detail to succeed in this line of work. All you need to get started is one property.
Start by looking for houses that are screaming out for some TLC. They might have been neglected for a few years, or even stood empty for a while. They should also be priced to reflect the amount of work that is needed to bring it back up to standard. These are usually labeled as investment properties.
Landlords often look for this type of property because they can do them up quickly then rent them out. But if you’re not financially positioned to develop a portfolio, flipping or quickly selling on, can be a better option for you. Buy it cheap, do it up on a budget, then sell it on quickly for a profit. Here are the areas you might need to work on to make a house a home again:
This is the room where families come together, children play, and guests sit. It needs to look contemporary while not being too stark for most tastes. The flooring is perhaps the most important feature. Hardwood is usually a good choice here. Add an attractive rug to start styling the room.
The walls should be tended to so that the paint finish can look professional. Sanding is one option. You might find you need to fill a few holes too. Add some coving and fresh skirting boards to start bringing a more contemporary feel into the room. Choose one wall to become a feature wall. This might be the fireplace wall.
The ceiling should also be repaired. You might want to install new, stylish lighting solutions. A chandelier works well in a high-ceiling room. Alternatively, add some ceiling spotlights. If there are wall lights, consider having the electrics checked before changing the shades.
This is one job you probably can’t manage on your own. Instead, seek a professional kitchen design and installation company to help you put in a contemporary fitting. Brand new kitchens can help raise the value of a home. People look for fitted appliances and attractive lighting solutions. Most importantly, the worktop and flooring must be attractive and stylish. High gloss when it is new looks amazing.
Some bathrooms are very worn and tired, so you might again need to look for a brand new one to be installed. A professional company is needed here. As you might have guessed, the costs of refurbing this property can quickly escalate. It’s important to have a fresh looking house. If any part of the permanent fixtures and fittings are serviceable, this might suit your budget better. It’s really important not to buy for your own style, tastes, and preferences. Go for what an average buyer would be looking for.
This is usually the biggest bedroom in the property. Make sure you have a bed in place that is well dressed. Add matching decor, drapes and rugs too. Don’t forget to install a carpet in here as this tends to be the preference for master bedrooms. There should be a feature wall in a room of this size. There should also be plenty of storage. If there aren’t any fitted wardrobes, consider building some in. If this is beyond your DIY skills, you can always buy attractive furniture to suit the style of the place. Add a theme, or perhaps customize the room to suit the area you’re in.
If this is a family house, it’s important to dress the other rooms to suit family living. This means making sure the bedrooms are likely to suit children. Add beds and other furniture to dress the room, even though you don’t intend to live here. It helps viewers to imagine their lives here and can aid a quick sale.
You might choose to borrow items or rent them for a few months. Either way, make sure there are minimal personal items. This reduces the clutter and can help the space feel bigger and more practical.
Hallways are notoriously difficult to decorate and paint. If you can’t reach in the stairwells, hire a professional. This may impact your budget a little, but it’s worth it. The hallways are the first interior spaces that viewers will see, so they need to look fresh and welcoming. Many entry areas are also quite dark and narrow. Try to use lighter shades. Add a few extra light sources too. Mirrorscan help open the space up as well.
The exterior of your property is just as important as the interior. The approach to the house must be clean and tidy. Power wash the paths and driveway to give a fresh finish. Trim any hedges or shrubs and for a tidy finish. Mow the lawns too. You might want to bring in some pots with colorful flowers to the property. This will add a splash of color for visitors to see. Best of all, it will help those all-important property photos look amazing.
Paint any fencing, so it looks sturdy, secure and clean. If the house is rendered, consider washing it down or repainting it to give it a fresh, new look. Attractive houses tend to sell quicker so use your creativity to improve the look of the house itself at the front and the back. Make sure there is a great entertaining or dining area in the garden. Finally, make sure all the exterior lights are working.
Flipping a house gives you your money back quickly. This means you might have more freedom to find different sources of finance in the first place. Of course, it’s all about speed. Get as much work done as quickly as possible. Get the house back on the market, and reap the rewards of all your work.