Flipping houses can be a lucrative venture, but it is crucial to understand how to make a property attractive to potential buyers. As a property flipper, you'll understand the ins and outs of fixing up a property to make it comfortable and habitable, but it is often the small details that make it truly valuable in the eyes of buyers.
When you're looking at the bigger picture of your property, it can be easy to overlook the small details. It is vital to put yourself in the shoes of prospective buyers and consider which additions might make you willing to spend a little more on the property. Small and relatively cheap additions and extras can add a good amount to the ultimate asking price.
Cleaning
One of the simplest requirements for a profitable house flipping venture – cleanliness will make all the difference when showing a property. This means a thorough, top-to-toe clean of the house with particular attention to the bathroom and kitchen. Though you can do the cleaning in the property yourself to cut down on costs, many people choose to hire professionals to ensure that a deep and thorough clean is done.
Natural Light
Natural light is one of the most essential and, conveniently, cheapest resources at a property flipper's disposal. It's vital to maximise the natural light your property enjoys when showing the home to prospective buyers, and doing so can be as simple as adding extra mirrors to each room. Mirrors help make a space look larger and reflect natural light to look airier and brighter. If you want to go one step further, you could add a skylight, but you'll need to consider if the cost of installation will be worthwhile.
Houseplants
When showing the interior of your property, it is vital to present it well and show prospective buyers the potential of the space. Anything too generic will be off-putting, as will anything too specialised – it is a delicate balancing act that should be struck. Houseplants can make the obvious, attractive and universally liked décor addition that is essential when showing a home for sale.
Door Furniture
A simple yet often overlooked option is the door furnishings in the property you're flipping. An upgrade to the door furniture is a relatively cost-effective option that can instantly increase the appearance and appeal of the property. You must choose a quality material and timeless finish to make the property attractive to future buyers; Colston has an excellent range of antique brass door furniture that could be perfect for house flippers.
Landscaping
The appearance of the garden is another element that can make a huge difference to the value of your property. It doesn't take a lot of effort to make a garden neat and tidy, but it is best to go beyond simple neatening and make the garden something special. You don't need to spend mountains of money; simply adding a few interesting and hardy plants along with some garden furniture can make a massive difference to the look and value of your property.
Fresh Paint
A fresh coat of paint can make a massive difference to the appearance of a property while being incredibly cost-effective. It is best to avoid very generic colours like magnolia, which may be reminiscent of rental properties. Neutral, attractive colours like grey, blue, white or green could be ideal throughout the house. Painting is a vital skill for any property flipper, as it can cut down on labour costs significantly. You can hire a painter-decorator, but it is often best to do repainting yourself.
Kitchen Appliances
Buyers will expect the property to come with the standard kitchen appliances – stove, oven, and possibly white goods. You can help your property stand out even more by including things like a dishwasher, in-built microwave and tumble dryer. These additions can be particularly beneficial for first-time buyers who might not own these appliances already.
Garden Shed
A garden shed is a relatively small outgoing cost for a potentially large return. Sheds can be incredibly attractive to possible buyers, particularly for those who need space for things like gardening tools, bicycles or even home offices. Sheds can be bought pre-built to be easily installed at your property, provided there is a suitable place in the garden for it to stand on. Just be aware that if you want to add a garden shed that could be classed as a dwelling – for a garden office, for instance – you may need to gain planning permission.
Conclusion
As any house flipper knows, it is important not to spend too much on a property, particularly in ways that won't increase the return on investment. This is why small additions and touches can be so invaluable – individually, they are cheap, but as a whole, they will add significant value to a property when compared with the investment. Consider using a select few of the above options to help you increase your profits for your next house-flipping venture.