You know how to build. You have the skills and the experience. Thanks to a rehab loan, you are doing your first fix and flip project. It is now that you should think about style, and not just about how many beams you will need to fix the roof.
First Impressions Matter
You can have two houses that are essentially identical, same square footage, same neighborhood, same school, same size plot, but one sells and the other doesn’t. Potential buyers often have a “feel” about a house, and a lot of that is not based on facts, like the size of the master bedroom, but on how inviting and nice they find the home.
What to Look For
As you plan the renovation, take some time to check out the lifestyle section of the local paper and some interior decorating magazines, to get an idea of what is trending. Go to some open houses in the area where you are working and observe the reactions of the other visitors. Try to eavesdrop on what couples are discussing and get a sense of what they like and don’t like.
Sometimes It Is the Little Things
Everyone likes nice kitchens and bathrooms. But what is nice? We all know that avocado-green bathrooms went out in the 70s, but what is the must have detail in a bathroom that will have buyers in your area weak in the knees? You should try to find out.
Pay Attention to Color
In general, you want to stay neutral on colors. If you paint the living room bright red, 2 people might love it, but most people will immediately start calculating how much it is going to cost them to repaint. Again, do your research and find out which neutrals are considered attractive where you are. Is it shades of beige, or grey or pastels?
Do the Calculation
Once you have a list of all the desirable interior details that will maximize the return on your investment, calculate where it is worth it to put your money. You may find that marble bathrooms are all the rage, if you are in Boston, but it may important to spend the money on hardwood floors. The more information you have, the more likely you are to make the right calls. So remember, style is not silly. It can translate into a quicker sale and a better profit.