In order to flip a home, you will need to complete various repairs and upgrades to appeal to potential buyers.
The first thing you must do is determine how much you want to sell the home for and your estimated profit after the cost of the home and real estate fees. That figure will tell you how much money you have to spend on remodeling and repairs.
You can reduce the cost of a remodel and profit more from flipping a home if you complete some of the upgrades and repairs on your own. This will reduce the labor costs of hiring professional contractors and home service providers.
Don’t cut corners when it comes to roof repairs, appliance repair or electrical upgrades. Those types of repairs should be done by a licensed contractor. However, you can save money if you are able to complete a few DIY tasks on your own.
Here is a list of some of the easier projects that will add value to a home and don’t require hiring a professional:
You can paint all of the interior rooms of a home on your own.
I recommend you paint rooms in neutral colors and ignore your own interior design preferences for more standard color options.
Blue tones are another popular color for bathrooms and kitchens if you want to variate from tans and white tones.
You can complete the demolition portion of a kitchen or bathroom remodel on your own. Tearing out old cabinets and countertops requires basic tools and a little elbow grease. Wear the proper safety gear to avoid injury and you should have no trouble demolishing a bathroom or kitchen without the need for a professional home contractor.
Plant bushes in the front yard of the home and be sure to mow the lawn and tidy up all debris. You should rake the leaves in the fall and shovel snow in the winter. You could also plant a garden bed and plant full-grown flowers in it for color.
You don’t need to hire a maid service or janitorial service. Wipe down all surfaces of the bathroom and kitchen with cleaning products and vacuum the carpet. Be sure to dust tables and surfaces in the living room and in bedrooms. The most important rooms are the bathroom and the kitchen. These rooms need to be 100% clean when potential buyers arrive at the home.
Professional home stagers are well worth their fees but if your budget is getting tight you can forgo this cost and stage the home on your own. Incorporate bright lighting throughout the home and fresh flowers if possible. Leave a lot of open spaces throughout the room and be sure there are no personal items on display.
The amount of DIY projects you can complete before flipping a home depend on your comfort level with various tools and repairs but the ones listed above should be possible for anyone interested in cutting some of the costs involved in flipping a home.