If you are considering buying a house for a quick flip there are a few things to put in order to make for an immediate and painless sale. When renovating the house for a real estate sale there are many things to consider, but, first impressions are always the most important aspect of any sale. For resale value, you always want to start with the curb appeal and work your way inside.
When you pull up to a house or when a potential buyer pulls up to your house (that is for sale), their first impresson could easily be their last. If it is as simple as cleaning up the shrubs, mowing the lawn and picking up random debris, then just do that. But maybe it’s more like a fresh coat of paint, new siding, or repairs to the outside. Any of these things will take time but they will defiantly help with this all important first impression. Take this example, we had a house that needed a complete paint job, but we did not have the time or the money. So we painted the front and the one side that was visible. We then had 8 showings. One out of the eight took concern to the non painted sides – the others were happy enough with the first impression. Please note were not advocating an unfinished job, but when time or money do not permit, you must compromise. In fact we told each potential buyer about the unfinished work and had a “completion clause” as part of the sales agreement. So to sum this first item up – put some effort into curb appeal, it will pay off and if you have to --be creative.
Today’s buyer wants hardwood floors, it is not an absolute thing but most buyers would prefer it, so if you can salvage the current floors by refinishing them, you will save a lot of money and add a ton of value to your home. Some places do not have that option and others are not repairable – so consider cheap alternatives like laminate or inexpensive “B” grade hard wood flooring. Just make sure you factor in the installation costs when pricing flooring. Remember that when a buyer walks into a house and sees hardwood floors, it instantly gives a feel of elegance and it makes everything appear a little cleaner. When selling a home, it is important to think of what other buyers would be looking for and not what your personal tastes may dictate. And this leads us into our final idea for helping with a rehab project – having a clean and neat appearance.
Having a clean look; it sounds simple but it is very important. A house cannot have clutter or areas of disrepair (besides that outside “non-visible” half painted exterior walls). It may sound like a contradiction, but it is not and again the example of the outside paint is an extreme example – normally this would not happen. Unfinished rooms only make potential buyers think about how much more money they will have to spend once they move in, which could drive down your sale price. This simply means that you want your buyer to start planning where things are going in the new house, not thinking of how he or she is going to finish an area or room.
So take all this into consideration, clean up the house, finish all projects and have the house presentable. This will give you the lasting impression you need to take your renovation to the next level – which is a potential sale.
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