Experienced flippers have followed the previous suggestions for decades and seen greatly improved ROI for the flips.
However, some items previously considered less valuable fixes are now ascending buyers’ wish lists and reducing days on the market, including eco-friendly features (such as low-flow toilets, and energy-efficient appliances and windows), smart home components (thermostats, lights, keyless entry, doorbells, etc.), and strong wi-fi (and/or available ethernet ports).
Evolving as a temporary solution, stay-cations have fortified homeowners’ interest in enjoying their own private outdoor spaces. Whether a deck, an outdoor kitchen or barbecue patio, or a firepit—or better yet, an outdoor fireplace—consider the appeal a personal retreat adds to your investment property.
As recent demand has dramatically increased both the wait and costs to install a new pool, the viability of adding one in your next flip is minimal.
Stay Focused on High-Impact Improvements
It may sound simple to stay focused on high-impact improvements, but even the most experienced flippers can get caught up in adding to the punch list, adding to the costs, and not bearing in mind the return on investment. It’s vital to remember, a renovation for sale is an economic process.
Personal taste will certainly affect some design elements but should not override what will deliver a strong return on investment nor should they derail the timeline to completion. It’s not about imposing your personal style on buyers but getting a house prepared for sale that appeals to buyers who value and are willing to pay for the improvements you’ve made to the home.