For any investor, buying a fixer-upper and flipping it for a profit can be advantageous, particularly if you are willing to take on some of the renovations yourself. With the right knowledge, you can feel comfortable taking on some renovations without the help of a professional. This could reduce your out-of-pocket expenses, which puts more profit in your pocket when you flip the home.
Here are five simple and budget-friendly projects for your fixer-upper:
1. Freshen up the faucets:
The faucet is one of the main focal points of any kitchen and baths and shouldn’t be overlooked when you’re fixing up a property. Today’s faucets are easier to install than ever before, and newer models even come with water supply lines pre-attached, eliminating the need to attach them yourself from under the sink.
2. Paint, paint paint:
Fresh paint can give you a big bang for your buck when it comes to home improvement projects. A new, clean look can completely revamp a home and there are a lot of tools in the market that make it easy to achieve a professional look.
3. Spruce up the entryway:
An entryway is one of the first things potential home buyers will see when they walk into your fix-and-flip home, so why not wow them? Update the door with a new lockset and matching door hinges. You could also add a tile floor or shoe and coat storage to make it both stylish and functional.
4. Replace old flooring:
Nothing drags down the appearance of a home more than dated, dirty carpets. Installing new tile or hardwood flooring yourself is easier than ever. Many manufacturers produce flooring material that even a novice can complete. Although you will need a power saw, the detailed instructions that come with a snap-and-lock or floating floor system simplify the installation significantly.
5. Makeover the cabinets:
Replacing cabinetry can be a big and expensive job. But if the cabinets in your fixer-upper are generally sound, you can make them over quickly by thoroughly cleaning and adding a fresh coat of stain or paint. Replacing the hardware can also provide some instant appeal.
With a little know-how an investor of any level should feel ready to take on some of these DIY projects. Ready to find your next fixer-upper? Head over to Hubzu to start your search.