House flipping is the process of purchasing a property, making renovations or repairs, and then selling the home for a profit. Flipping homes can be a great way to earn money, but it’s essential to do your research before getting started. When flipping a home, there are a few key things that you can do to increase its value and make it more likely to sell quickly. You want to ensure that you are making the most of your investment, so here are a few additions to increase the value of a flipped home.
1. Landscaping
One of the first things potential buyers will see when they pull up to the home is landscaping. If you have an unkempt lawn or overgrown bushes, it can give the impression that the house has been neglected. Taking the time to do some basic landscaping can make a big difference in the property’s curb appeal. Add some color with flowers or plantings, trim the bushes, and ensure the lawn is mowed and free of debris.
You can add some hardscaping features like a paver patio or stone walkway. These can be relatively inexpensive to install and make the home stand out. They also add value to the property and can make it more attractive to potential buyers. Use landscaping to your advantage when flipping a house, and you’ll surely see a return on your investment.
2. Storage shed
Another addition that can add value to a property is a storage shed. Potential buyers may be turned off if the home doesn’t have a garage or lacks storage space. Adding a storage shed can give them extra space and make the home more appealing. They can be relatively inexpensive to build or purchase and are a great way to add value to a property.
Storage sheds come in various sizes and can be customized to match the style of the home. You can start with the standard 12×16 backyard shed plan and make modifications to meet the needs of your property. Be sure to get the proper permits before building or placing a storage shed on the property.
3. Swimming pool
Adding a swimming pool to a property can be a great way to increase its value. It’s important to note that not all buyers will be interested in a home with a pool. Some people may view it as a liability, while others may not want the added responsibility of maintaining a pool. However, a pool can be a great selling point if you’re targeting a specific type of buyer, such as families with young children.
Pools can be expensive to install, so it’s essential to do your research before adding one to the property. You also need to factor in the cost of maintenance and repairs. If you’re unsure if a pool is a suitable addition to the home, you can always consult with a real estate agent or home inspector. They can help determine if a pool is a good investment for the property by considering the area, climate, and demographics.
4. Gourmet kitchen
Another addition that can add value to a flipped home is a gourmet kitchen. This is a great selling point for buyers who love cooking or entertaining. A gourmet kitchen usually includes high-end appliances, custom cabinetry, and granite countertops. This can be expensive to create, so you need to be sure that it’s something potential buyers in the area are looking for.
When building a gourmet kitchen, it’s essential to use quality materials. You want the kitchen to last and be a selling point for the home. Don’t cut corners regarding the appliances, cabinetry, or countertops. These should be top-of-the-line to appeal to buyers looking for a luxury home.
5. In-law suite
An in-law suite can be a great addition to a flipped home. It can be used as an additional bedroom, home office, or rental unit. This can sell to buyers with extended families or those looking for additional income. Many in-law suites include a bedroom, bathroom, and kitchenette. Some also have a living area or separate entrance.
Adding an in-law suite can be expensive, but it’s a great way to add value to a property. If you’re considering this addition, be sure to check the zoning laws in the area. You may need a special permit to build an in-law suite on the property.
These are some of the additions that can increase the value of a flipped home. Be sure to do your research and consult with experts before making any changes to the property. These additions can be costly, but they can also add a lot of value to the home. With the right additions, you can profit from your investment and appeal to buyers in the market for a luxury home.
