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The Best Remodeling
Strategies
Here at Center Street Lending,we see a lot of ideas about how a
house can be fixed up and flipped for maximum profit.
Some ideas are much better than others.
The problem with the ‘big ideas’ is that they often cost big
money. It’s easy to overlook obvious
fixes that just might add tremendous value.
On the other hand, big ventures and renovations are sometimes not always the best investments
for individuals keen on making a big profit. It turns out that the
most profitable investments are also the safest. The long term
quality and dependability of your rehab should be your primary
focus.
So what renovations should you focus on?
Bringing a Property Up to Standard
Start by making sure the property compares to the rest of the
properties in town. The first thing to remember is that if a property is
below the neighborhood or city standard, first you must see to it
that the basics are set.
Buyers will avoid a house with a leaky roof, cracked retaining
walls, or weak and cheap floors or walls. And anyone interested in
the only home on the blockwithout air conditioning or a
garage is only going to buy if the property is significantly cheaper.
Kitchen and Bathroom Remodel
If you don’t upgrade the kitchen and bathrooms, you’re basically
offering a discount to a buyer who is thinking of doing that work on their own. If you want buyers to
see value in a home, don’t give them reasons to look for work
they’re going to have to do.
Front Door Replacement
The front door is one of the most important aspects of curb appeal
on the exterior of the home. A solid, fireproof, soundproof front
door will look great and update the look of the whole front of the
house. It’s not a huge investment to install a new front door and the
return is ofter more than 100% of the cost.
Add a Deck
There are very few amenities that we can recommend for most rehab
projects. A pool, for example, is a terrible investment unless every
other home in the city has one. Not only expensive, the return is rarely
worth the commitment.
A lovely deck can be done well without spending a fortune and
will get buyers thinking about how to use that exterior space.
If you are considering a property rehab project and need funding,
Center Street Lending can make it happen. We lend in CA, AZ, CO, UT,
TX, FL & NC, up to 80% of the property purchase price as well as
80% of your anticipated rehab costs.
Give us a call today or request a no- obligation quote online. We can
fund your project in as little as 24- hours! Follow Center Street
Lending on Twitter for all the latest updates.