TV has popularized the renovation concept to a degree which is truly mind blowing. If you have ever renovated a property, you understand the difficulties which you often face aren’t nearly as exciting as TV. For an investor with know-how and savvy the renovation and resale prospects are still alive, but it takes more nerve and skill than ever before to pull it off. The following are some guidelines for home renovations for the aspiring house flippers.

Floor Plans Matter. The layout of a home matters more than ever. Although bargain shoppers might take anything they can get, a buyer of a renovated home is looking for a home that has the layout and finish that they want. There are two ways to do a renovation that works, you can either create a desirable floor plan or you and take a floor plan and update it. If you want to change a floor plan, then you better be getting a great deal on the property to make the investment work. Otherwise, find a good floor plan and focus on the updates.

Don’t Cut Corners. There is a fine line between spending wisely on a renovation and cutting corners. The return that you are trying to get on a home will determine the types of finishes you decide to put into a renovation. If you are trying to get top dollar in the market, then you better put the top finishes and have the home immaculate. If you are purchasing a house then all the structural issues should be resolved before you ever put it back on the market. Buyers recognize quality work and are usually ready to pay for first-class finishes, but they will turn their nose up at cheap work. Doors that stick, uneven drywall, and trim that doesn’t line up are key indicators that corners have been cut.

The Magic Three. There are three key finishes in a quality home which distinguish a nice house from an OK property. The first and most overlooked indicator of quality is the door of the home. Most production builders don’t put solid core doors in a home because hollow core doors cost less money and do the same job, but a quality home will have a solid core door which provides better sound dampening and feel more sturdy. The second indicator of a home is the trims around the windows, floor, and doors. The general rule is that the more expensive the house the heavier the trim. A $300k home might have 2-piece crown molding but a $900k might have 4-piece crown molding. A good renovation will provide more trim than a consumer would expect at a given price point. Lastly, the floors of a home are a dead give-away to the quality. Finished in place hardwoods is the nicest flooring option available and is worth the expense when you’re doing a renovation. If you are going to put carpet in a home, put a quality pad and a nice carpet if you want to get top dollar.

When you are selecting the finishes of a home, focus on providing a higher quality product that the consumer expects to find in a home at your target price. That’s called value and consumers love a great value.

For help in determining how to find a potential renovation, contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call 704-965-2535