Maximizing your return on a real estate “flip” investment requires a few things. Obviously, you must buy the property at the right price. In addition, though, you must use your investment capital efficiently. This last factor means concentrating your rehab efforts on the places that provide the greatest return on investment. With that in mind, here's where we suggest that you start:
Exterior
First impressions do make a difference, especially when you are trying to sell a property. Not only is an attractive appearance aesthetically pleasing, but also shows that the owner pays attention to maintenance issues – a very important factor when it comes to multi-family units or apartment complexes.
Similarly, things such as the roof, doors, and windows, as well as other exterior elements, are some of the main items that an inspector reviews closely. Simply put, the condition of the exterior of a property can set the mood for the rest of the deal.
Kitchen
These days, the kitchen is the focal point of most homes. As such, home buyers look here for the latest and greatest in appliances and technology. This fact does not necessarily mean that you have to install the most expensive gadgets, but the cabinetry and the appliances must be up to date and integrated into the décor.
For the best results, choose the overall décor and then add cabinets and appliances that work within that framework. Finally, counter tops, flooring, and trim can be added as needed. Pay attention to the latest trends in interior design to guide you in these choices, so you can choose the best options for the least amount of money.
Bathrooms
In a similar vein, homeowners like the most private room in their homes to also be the most updated. This desire is not limited to just the master bath, but also to the bathrooms that the rest of the family and guests will see. In addition, potential buyers also pay close attention to these rooms as they often seem quite difficult to remodel.
By simply adding larger floor and wall tiles, updated sinks, and finer cabinets, a bathroom can be transformed from a merely acceptable one to something that impresses everyone who sees it. Like everything else on this list, it is definitely one of the best property investments that a homeowner can make.