Real estate speculation has become quite the popular culture trend, these days, but even before the days of HGTV, people were still buying homes with the explicit intention to “flip” it—to take from today’s vernacular—and turn a quick profit.
If the sound of that idea appeals to you then it might be time for you to consider buying a bit of a “fixer-upper” and applying some good ole elbow grease to boost your home’s initial resale value, so that you can sell it and make a little money, enjoying a bit more comfort in the meantime.
But where should you start? Indeed, this is an important question, particularly if you have a large home or have never done anything like this before (or both). Here are a few ideas:
CURB APPEAL
Perhaps the easiest way to make your home more appealing to the potential buyer is to add something known in the industry as “curb appeal.” Curb appeal is, basically, making your home as attractive as possible to passers by on the street. This can include—though it doesn’t have to—elaborate landscaping and artistic yard decoration. It can also just be very simple and clean, making your home look comfortable and welcoming. Similarly, you do not have to hire a professional landscaper to help you with this, though, it might be recommended; though it is also about adding trim to windows and eaves or replacing flaking paint with vinyl siding.
RENOVATE THE KITCHEN
When it comes to home renovation, the kitchen is the single most important room. People spend more time in the kitchen, collectively, than any other room in the house—it is a place of meals, sure, but also a place of sharing and connecting. In fact, many home buyers base much of their decision on the qualities of a kitchen.
RENOVATE THE BATHROOM
Probably the most difficult of the three projects on this list, the bathroom is certainly not a Renovco renovation project for the faint of heart. The investment requires a delicate understanding of plumbing, electrical, and structural aspects of the home. And all of these things are in very tight quarters, making the work that much more difficult. The investment return yield on a bathroom renovation project is typically not as high as the others, so this is the type of project you should save for when you really need it.
