Best Upgrades for House Flippers – Go Big, Sell Faster
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Over the past few years, as many as 30% of homes that have been sold have been done so by house flippers – people who buy homes, renovate them and resell them at a profit as quickly as possible. However, to successfully profit in deals like these, it’s essential that the right upgrades be done. Below are renovations that can provide flippers with the most value for money from private home loans in Cambridge.
1. Kitchen Upgrades
Kitchens are normally the tipping factor for buyers when they are looking at homes to purchase, which is why this room should receive as much attention as possible during renovations. Replacing outdated cabinets, appliances, countertops and other fixtures such as faucets, sinks, tiles and trims will give this part of the house a fresh look and boost its ability to be sold as quickly as possible. Another crucial area to upgrade is the flooring – tiles are usually a great option in this part of a home. A bad credit mortgage in Mississauga will be the most convenient way to cover the cost of an upgrade like this.
2. Bathroom Areas
Many buyers will be turned off by bathrooms that seem small, dark and poky, and another turn-off is bathroom fixtures that haven’t been updated in the past 30 to 40 years (think salmon, brown and avocado tubs, sinks and toilets). Replacing these fixtures, along with faucets and tiling will help make even the smallest, darkest bathroom look far more pleasant and appealing to potential buyers. Many bad credit mortgages in Ajax are used by flippers to upgrade bathroom areas.
Numerous older homes have windows that are either too small or that are damaged beyond the point where repair is a practical option. In cases like these, using bad credit mortgages in Ajax to do complete window replacements will go a long way in boosting the value of a house that is being flipped for a fast profit. Potential buyers will be more likely to put in an offer on a home if they know that they will not have to pay for that type of renovation themselves.
There is little else that is as off-putting to potential buyers as a home that is poorly lit inside or outside. Many older properties made use of frosted fittings, which prevented a lot of light from leaving them. Replacing incandescent or energy-saver globes with cool white or daylight white LED globes will provide a lot more light in and around a property. An added bonus is that LED lights use far less electricity than any other lights, which will be another drawcard when it comes to flipping the house.
When buying and selling houses for profit, flippers will be able to benefit significantly by using private home loans in Cambridge to not only finance renovation work, but to obtain the funds needed to purchase the property as well. If you are engaged in house flipping and would like to find out more about obtaining a bad credit mortgage in Mississauga to help finance the deal, contact us today.