Making a Flip and Fix Project Successful

Normal 0 false false false EN-PH X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The sad fact inrehabbing is that you can spend $25,000 beautifying a home and it could justresult in a $10,000 increase in the property’s value. If you spend on the wrongplaces, you will end up wasting money. However, if you know what to do when you flip and fix houses, you canraise a home’s value by $50,000 by spending just $10,000. Here are a few tipsto make your flip and fix project a success. One rule youmust remember is that a house must be livable before it is beautiful. Whatsense is a new coat of paint on the ceiling if the roof is leaking? Would yourbuyer appreciate a house if it has a new lampshade but the electrical outletsare not properly working? When a buyersearches for a property, he envisions himself living in that house. If heexperiences inconveniences during inspection, he is most likely to be “turnedoff” by that property. So before making cosmetic repairs, make sure you flipand fix all major repairs first. Check the roof and walls, electrical system,heating and air conditioning, and plumbing. After completing these repairs,move on to smaller repairs. Get a FREE step-by-step guide on how to efficientlydo repair jobs by clicking here .   You must alsopay attention to the bathrooms and kitchen – the two places buyers scrutinizethe most when inspecting properties. Don’t be afraid to invest in these twoareas. For the bathroom, you can include a new tub. You can also replace oldfixtures like the shower and the sink. As for the kitchen, a $2,000 investmentis reasonable. Buy a new refrigerator or stove. Replace rusted cupboardhandles. Build some new drawers and be sure to paint them neatly. After the basicrepairs come the cosmetic or minor repairs. These are small repairs that canraise the value of your property big time. Replacing switch covers and doorknobs is a prime example of cosmetic flip and fix. If a room has too much openspace, you can build a new closet. You can also set up a small table on acorner, throw in a stool and reading lamp, and there you have it: a readingarea. Outside of theproperty, make sure the garden is well made. Trim the lawn and trees, put upplants in pots, and add a touch of landscaping. If the house a huge lot, youcan even construct a carport. Adding a gazebo and benches will also beautifythe property. Click Here to read more tips on rehabbing houses .

Was this helpful? 0 0 Comments

You're reading Making a Flip and Fix Project Successful.