Real Estate Flipping | Know The 3 Secrets To Renovating Your Kitchen
As you might already know, the kitchen remodel is often the most expensive part of real estate flipping. Luckily, it is also the main attraction for prospective buyers. If you know how to do it right and were to allocate your money, you could exceed the par of what is expected of the kitchen, and create an incredible selling point for your property.
In fact, selling points are one of the two key things you should consider when renovating this room. The other important part you should focus on is the overall appearance of the kitchen. Think of the overall appearance as the outward impression that the prospective buyers see from a distance, while the selling points the highlights that you will show them close up.
Knowing how to utilize both of these resources can help you sell your house fast, and at a greater profit.
Revamp Your Cabinets When Real Estate Flipping
Since the kitchens are the most important part of real estate flipping, and cabinets take up a large amount of space in the kitchen, it’s a smart idea to focus a great deal of attention on the cabinets.
This does not mean, however, that you always need to buy completely new cabinets. Only if the existing cabinets are very outdated or in notably bad condition should you get new ones.
If you do decide to buy, get a less expensive make. However do not get the cheapest. Cedar cabinet a popular contemporary type and lower on the price scale. If you skimp out on the cabinets, the buyer will know and perhaps become disinterested in the property.
Much of the time, all you really need to do is refinish or reface the existing cabinets. Refacing can give the appearance of a new cabinet but you won’t have to spend as much money. You will save thousands of dollars, not only on the price of a whole cabinet, but also because you don’t have to pay for the demolition crews to remove the old ones.
As mentioned before, you should always be thinking about selling points. A great, inexpensive aspect to your cabinets, which you can use as a selling point, is the addition of soft close hinges. These hinges make it so the cabinets do not slam when shut. In addition to cabinets, you can get soft close drawers so that your whole kitchen will match.
Highlight Your Countertop
First and foremost, you should always contrast the color of your countertop with the color of your cabinets when you are real estate flipping. So, if you have dark cabinets then you should consider a light colored countertop. Or, if you have light colored cabinets you should install a darker countertop. Try to stay away from neutral colors here, because they can washout the color of your cabinets.
Currently, granite is a very popular countertop material. Most importantly for you, granite countertops are a great selling point for real estate flipping. They are a bit more expensive then some other materials, but they might be a worthwhile investment depending on your budget. You should typically use granite in a more expensive property, especially those over $250,000.
You should try to save a decent amount of your budget for a granite countertop if you can afford it; this is not the place where you should cut corners.
However, for a cheaper property you may want to consider using laminate or tiled countertops. These materials are much cheaper, and if you find the right style, they will certainly do the job.
Think Carefully About The Floor
The number one rule when installing flooring is that you should NOT install a light colored floor! Light floors are easily marked and scratched and can be a turnoff to potential buyers. In addition, dirt and grime will show up much easier.
These floors can get marked up while other renovations are being done and by the customers themselves during the open house. Always try to stick to neutral or dark colors for the flooring.
Moreover, Don’t spend a great deal of money on the flooring because there is a good chance that the new homeowner will buy a new floor anyway. Buyers tend to be very particular. Fortunately, flooring is an easier, less expensive change then cabinets. This means that the buyer’s focus, as well as your focus, should steer toward the cabinets and countertops.
The exception to this idea is if you have the same floor throughout the entire main floor, or the floor with the kitchen. By using this technique, you can make the entire floor feel larger and flow better together.