Photo by Pawel Czerwinski from Unsplash
How to Turn a Fixer-Upper Into a Real Estate Money-Maker
The real estate market has been ravenous for the last few years, with eager buyers spending thousands more than homes are listed at: property prices nearly doubled within the previous ten years.
If you have a home with great potential, and you want to make it into a beauty, these are the most important things to remember so you can succeed.
Go For A Large Kitchen and Large Master Bath
The two rooms that buyers are paying the most attention to in 2022 are a kitchen that allows them to feel like they’re cooking at the professional grade and a primary bathroom that lets them imagine themselves in a sauna. Although it’s vital that you don’t spend more than 10% of the home’s value in just one room, expanding and completing these spaces will help house hunters feel eager to buy.
Storage is King in these Roaring 2020s
There’s no such thing as enough storage in 2022. This extends beyond closets. Buyers are eager for built-in storage, from cabinetry to closets, to the attic and garage storage you can make. Even finishing an attic so that it’s safe and dry for storage can add value to your home. If your garage has a high ceiling and a lot of wasted vertical space, it’s a good idea to consider putting in a loft for storage and some vertical pegs so people can hang everything from bikes to tools.
Lay Down High-Quality Paint and Replace Fixtures
Of the five senses, touch and the appearance of texture matter a large amount in homes. A satin-finish paint that’s applied well and lays flat can even change how a room feels, especially if it’s replacing wallpaper or cheaper paint. There’s no point asking ‘what is my home worth?’ if the wall covering feels like something from the 1970s. Go for neutral and attractive colors, avoiding gray and tans at all costs.
Finish Your Basement Before You List
Basements are often overlooked because they can seem like a waste of usable space: but that’s why you have to prove to buyers there’s value in yours. Create rooms with utility, from an office to a media room, and be sure to add space for storage here as well. If you’re in an area where real estate is extremely hard to find, consider putting in a kitchenette so that the basement can be viewed as a way to make the house an income property through renters.
Pay Attention to Trends In Your Area
What’s popular in the area you’re in? Every portion of the country is different, from people in Florida moving away from coastlines for once to northerners seeking homes with air conditioning after the rough summer of 2021. Think about what buyers are looking for and figure out how to offer it.
Any Property Can Be Made into a Goldmine
Whether you bought this property in the 1990s and haven’t updated it since, or you grabbed it for cheap on auction, and you want to get as much for it as possible: it’s possible to do it all if you’re able to invest correctly. Consider some of these tips, and make your property into a sunny piece of art.