How to Restore a House for Resale

If you’re a property developer or want to start restoring houses to flip, this guide is for you. 

Here’s how to restore a house for a profitable resale. 

• Finding the right house for the right price at the right time

Flipping houses or restoring properties is all about timing. You need to keep your eyes peeled for the right house, as they’ll likely sell to another flipper pretty quickly. You then need to negotiate the right price in order to guarantee you’ll make a profit. Finally, you need to find a property and make it resalable when the market is at a high – so you can make as much of a profit as possible. 

It’s tough. 

To find a property at the right price, you could choose to work with a discount real estate agency Chicago. That way, you’ll be able to find a property quickly and at a price you like. 

The best advice for house flippers tends to be to buy the worst house in the best neighborhood. Foreclosures and other properties that have been handed over tend to be pretty good, as you can often pay a discounted price but sell for the original market value. 

If you’re interested in restoring older properties, it’s best to make sure that the architectural features are in good condition, as these can be incredibly costly to restore. You also want to find a house that has a simple floorplan, as this will appeal to more potential buyers. 

• Don’t fix things that aren’t broken

There are a lot of people who rip out the old kitchen and bathrooms to replace them with a fresher design. However, there is a high potential that you can sell the property as is, without the need for costly investments. 

Moreover, if you’re looking to quickly move on from a property without engaging in extensive renovations, you can get cash for your home swiftly and without hassle by working with a cash buyer. This be particularly enticing for flippers who wish to bypass the traditional market and streamline their investment recycling process.

While some believe it can add value to a property, it’s better to keep your expenses to a minimum if possible. That said, you could replace old tiles in the bathroom or give the kitchen cupboards a fresh lick of paint. You’ll be surprised by how much of a difference it can make! 

• Enhance the house’s features

If the property has quirky features or classic architecture, make sure to display these as much as possible. Not everyone is looking for a box house that looks just like everyone else’s. A lot of people want character in their homes, so you could find yourself making a bigger profit by keeping these features intact. If the buyer wants to plaster over the original wooden beams in a property, so be it. But you should always leave the option to them. 

• Exterior paint can really make a difference

There’s a big trend for painting front doors right now. Instagram-lovers everywhere are painting their doors sage or mint greens, pastel pinks, or strikingly glossy blacks, and it’s perfect for adding curb appeal. Painting the door a bright color could even be enough to make your property stand out on the thousands available on online property markets. While scrolling through endless pages of houses, buyers are more likely to have their attention caught by a colored door, right? 

It’s not just the door that could make a difference either. Painting the exterior of a property could give it a totally new, modern look. Pebble-dashed housing can look fresher and more appealing with a coat of cream paint. Alternatively, using a dark grey or other neutral could work just as well.