Eight Great Tips for House Flippers!
This Bryant home in NE Seattle was such a fun rehab project! Check out these 8 tips to help you sell your next house.
Flip Tip 1: Location, location, location… set the ceiling high for your sale price! A great house in a challenging neighborhood may be tough to sell or provide a lesser return.
The house needed cosmetic updates but was already a sweet buy on a great street! Sometimes those are the most fun – just cosmetic fixing!
Flip Tip 2: Stay in touch with people in the industry – they will bring you gifts!
One of my favorite real estate agents firstname.lastname@example.org brought me this project and I was thrilled! It was a win-win for both the seller and my team.
Flip Tip 3: When rehabbing – overcome existing home objections for future buyers.
The living room in this home was small but thankfully I was able to add one of the bedrooms to the space to open it up. That still left 4 bedrooms which was critical when turning a bedroom into living space.
Flip Tip 4: Kitchens are one of the most important areas of a home for buyers. Look at the kitchen and ask yourself, “If this were updated or remodeled would it hold up at the new sale price?” If not, I generally move on. It really is a deal breaker.
The kitchen in this house was not large but definitely had a great layout. We updated the space with light and bright white cabinets & countertops, stainless appliances, new flooring and, most importantly, opened it up to the dining room and living room to make it feel bigger.
Flip Tip 5: Remember that when you are rehabbing a home, you are always looking to make the house more livable not just pretty. Can you fix what is currently missing in the house? If so, then it is a good buy at the right price.
We added a bathroom upstairs to service the 2 bedrooms; A critical move that would move this house into the next price point.
Flip Tip 6: An unfinished basement can be a goldmine. By adding bedrooms, bathrooms or even a living room within the existing structure, you can change a dark space into a huge money maker! But make sure the home has sufficient ceiling height. Lower ceilings in a finished basement or attic are less appealing to buyers.
This basement was already finished but needed some TLC, so we improved it with some fun updates. It was a great added living space when the job was complete. Pictures don’t really do it justice!
Flip Tip 7: A great paint palate is vital when selling a flipped property. It allows buyers to relate to the home. They know what colors they may want to add but don’t have to overlook colors they don’t like.
Our new paint selection was neutral, clean and soothing. We chose Benjamin Moore’s Revere Pewter, White Dove, Beach Glass and Gray Owl, which were all very well received by buyers.
Flip Tip 8: Move forward on projects swiftly. Keep your contractors scheduled closely and keep them informed on the progress of the house. Moving too quickly can compromise craftsmanship and often causes mistakes. A consistent and considerate workflow makes these types of projects successful.
We had great timing and organization with the Bryant project. This house was completed in about 5 months and sold quickly!
Any questions? Stay tuned for even more tips and happy flipping!