If you would like to make a profit on your first house and move on to the next project, it is important that you understand what buyers are looking for in your area. There are, some common things that potential buyers are inspecting and looking out for, so if you want to maximize your resale price, you will have to focus on these.
Read my 5 tips on maximizing your profit when flipping your house below:
1. Clean Design
Buyers are looking for a blank canvas. You should avoid loud colors and small spaces and nooks. Open up the rooms, make them light and bright, so your potential buyers are able to look at the space as a blank canvas and imagine their own design ideas.
When it comes to colors, Natural colors, such as beige and magnolia work well with any space. Avoid dark colors as they tend to make rooms look smaller.
If you would like to flip your first house, you will need to build your sale on the best features of the real estate.
A nice and well kept garden can sell a house. You should not neglect the importance of landscaping and maintenance when it comes to selling real estate. Pay attention to the curb appeal, as the exterior of your home is what viewers will first see. Tidy up the gutters and the fascia, and repair the loose paving stones.
Older people will look for easy to maintain gardens, maybe paving slabs and a few large pots, while younger couples would love to have a flowerbed and a few evergreen plants.
People viewing your property might not know that your area is safe, so give them some reassurance by installing an advanced security system that will allow them to stay safe whether they are home or not.
You can get a video doorbell or an alarm system. Potential buyers will not think that you have these security features because your neighborhood is not safe; they will treat it as an extra benefit.
4. Sustainable Improvements
Millennial buyers are impressed by green investments, such as solar panels, wind turbines, or a brand new heat pump. If you would like to instantly increase the resale value of your home, you might want to invest in some green technology.
Adding an energy monitor and a carbon footprint measurement unit will certainly appeal to young buyers. Add a compost bin and a small vegetable garden, and you can impress older people.
5. Essential Repairs
It is crucial that you go through your home with a fine toothed comb and look for imperfections. Start Addressing that dripping faucet, that stain on the wall, the crack, and the missing skirting boards, if want to avoid buyers’ excuses in hopes to negotiate the price.
Check everything and arrange a garage door service if there is a problem with your remote or your frame needs attention.
To maximize the return on your real estate investment, you will need to focus on the areas that are important to your target buyers.