Some of the most popular shows on television these days involve purchasing homes to flip and then resell. Just watch a few shows on HGTV if you don’t believe us.
Investing in property, making renovations, and then reselling can be a great opportunity for additional income, as well as being a fun task in general if you like home improvement projects.
If you’re just starting out, here are some of the best home renovation tips. For properties available in Arlington, contact Honeybee Home Buyers today.
Set A Budget
Of course you want to make as many changes as possible in the shortest amount of time, but finances don’t always allow that. Before you even decide on what to renovate, go over your budget and figure out how much you can spend to make repairs and upgrades. Whether you can make several changes or just a few, it’s necessary to know what you can afford.
Research Project Costs
Once you’ve created a budget for your renovations, it’s time to figure out what specific projects you can afford to complete. While you might have a go-to for home goods and supplies, it’s worth it to research different home improvement stores, different products, and even second-hand stores for lightly used items.
You might be surprised by your findings, and it will open up your options for more upgrades if you can save money on the first few.
Develop A Color Palette
Depending on your budget, your color palette could include just a couple of colors or it could include several. Each room has a different purpose, and each color creates a different mood, so consider these factors when deciding on a color palette.
Creating a palette will create a sense of continuity throughout your home, though, which potential buyers or renters will appreciate when you’re ready to rent or sell.
Tip: Color also affects lighting. Dark colors absorb light, making a room feel smaller, while lighter colors reflect light and can make a room feel bigger.
Improve Storage Space
A characteristic of a home that’s easy to overlook is the quality and amount of storage space it has — but now that you know, you’ll be able to make the necessary improvements! Consider what each closet throughout the home might be used for, and install shelving and hanger bars as necessary.
Make sure to leave enough floor space for things like vacuums and mop buckets, but also make sure there’s enough shelving for different cleaning supplies, blankets, linens, clothing, and other things buyers or renters will need to store.
These are just a few suggestions that will help you quickly transform the real estate you’ve invested in. Other things to consider repairing or updating are doors, windows, flooring, faucets, lamp fixtures, and other smaller elements that will give the home an entirely new look.
For home buyers looking to invest, Honeybee Home Buyers purchases homes to resell as they are, so you can make all your home-improvement dreams come true. Contact us today to learn about the properties we have available for home buyers!