5 Upgrades That Can Maximize A Fix-And-Flip Property’s ARV
Fixing and flipping a house is not an easy venture. It involves numerous renovations meant to increase your property’s value. If done accordingly, the final results can be rewarding. Like any real estate investment, succeeding in fix-and-flip projects requires lots of knowledge and experience. You need to know the areas to improve in the house to enhance its aesthetics and improve efficiency without spending a lot.
Let’s look at five upgrades that can boost your property’s ARV without digging too much into your pocket.
1. New Flooring or Paint Job
You can quickly improve the after-repair value of your property by trying a refreshing paint job or installing new flooring. New flooring or a fresh coat of paint is simple and cost-effective. Looking at the essential attributes is crucial when thinking about home improvement.
You don’t have to go for an exotic paint job, but an alternative is to keep it simple and stylish to make your home more appealing. Whether you opt for a new floor or a new coat of paint, make sure the makeover is uniform throughout the house.
2. Create an Extension to Make the Living Space Bigger
Adding an extension to enlarge your living room can positively impact the after-repair value. It’s a relatively costly option compared to other likely projects. In addition, it might not increase the property’s value significantly. Nevertheless, when you implement this renovation project appropriately, it might just be the change that a house requires.
Before anything else, you should consult your realtor before adding an extension to your living room. The realtor can provide valuable input on how to do it to increase the property value rather than drain your funds.
3. Install Strategic Lighting
You can increase your property’s value by replacing or upgrading its lighting fixtures. Modern-day rooms have different lighting demands. Implementing that can make your house appealing to anyone since lighting changes are easily noticeable.
For instance, you can install dimmer switches in the bedrooms to give the user more control over the brightness. Likewise, you can update the light switch covers to make them more eye-catching. These adjustments are inexpensive and easy to implement, yet their impact on the house value can be tremendous.
4. Go for a Bathroom Remodel
You can never go wrong with a bathroom remodel if you’re keen on increasing the value of your house. The bathroom is a crucial area a new buyer will focus on before deciding to purchase your property.
Apart from that, the bathroom is often one area in every home with a lot of foot traffic. Therefore, restoring the aesthetics of the bathtub, tiles, or sinks can increase your property’s value. In addition, you can improve the water efficiency of the bathroom by installing water-efficient fixtures. You can also update the faucets, and the overall finish can boost the after-repair value of your house. Repainting the bathroom is another way to improve your bathroom if you’re short on funds.
5. Kitchen Renovation
Today, the kitchen has become the most crucial room in any house. Apart from being where you prepare your meals, it’s also a place for people to gather and share the meal. Thus, you need to focus on the room and give it a deserving facelift or upgrade.
Similarly, you can modernize the kitchen’s floor plan to make it more efficient. To top it off, you can bring in a kitchen island for added flourish or update the appliances.
Renovation Projects to Increase Your Property’s Value
Fix-and-flip projects require a lot of attention to detail. Implementing these five upgrades allows you to maximize your property’s ARV without spending too much. Talk to us so we can help you find suitable properties and upgrades to invest in.