You don’t need to buy a new home to get the house of your dreams. If you want a beautiful home, a remodel might be the key to turning outdated to amazing. Thankfully house flippers know how to make any home stand out with the right to remodel.
House flippers have seen homes in the worst conditions imaginable and can flip them with the right plan! No matter the current state of your home, you can have a smooth remodel using their tips and tricks!
Want to make you remodel perfect? These house flippers’ tricks will help you master your remodel!
Budgets are where dreams become a reality for a house renovation. Budgets are essential for a home remodel to help you set realistic expectations on your remodel and your timelines. Creating a budget for your remodel is easier than you think!
The most important house flipper trick to remodeling your home is After repair value (ARV). ARV is a calculation house flippers use to determine if a repair is necessary for a home by factoring in how the repairs will impact your home value and if a repair is worth the cost. The Formula for ARV is: ARV = Property’s Current Value + Value of Renovations.
According to HomeAdvisor, the average cost of renovating a home that is 1,000 square feet is $19,000. For homes in the 3,000 to 4,000 square foot range, the average cost climbs to $87,500. Typically, you can expect to spend at least $10 to $60 per square foot on any renovation.
Using ARV you can determine if the cost of the remodel will improve the home value. Additionally, you can also use this information to determine what repairs are worth the time and money for your home.
What gets plan gets completed, and with a home remodel planning is essential to the success of your remodel. No matter the scale of your remodel you should have a plan and preparation period before you break out the hammers.
One of the ways house flippers can quickly flip home is thanks to a remodel plan. With this plan, they create a clear scope of work and timelines for projects. This makes it easy to ensure your remodel is on the right track.
A remodel plan details all repairs, replacements, and timelines for a remodel. House flippers will often use a remodel checklist that covers the wants and needs for a project, and the project steps to complete.
To prep for a remodel you need to make considerations if you are living in the home before remodeling starts. These considerations can include how to dispose of debris in the remodeling process, such as renting a dumpster, noise for your neighbors, and more.
Not all repairs are created equal. While some elbow grease and determination might work for other projects some should be left to the professionals. So when is it time to call the contractors vs when you can complete it on your own
Some repairs such as painting are great ways to save money on home repair projects. Some homeowners may even be able to complete a cupboard replacement and even new flooring. Even house flippers who are mortgage note investing, know that some repairs should never be attempted by an amateur.
Some projects that amateurs should not attempt are any structural work (such as adding or removing supports), Electrical or water work. Additionally, you should bring experts to repair and replace HVAC systems.
Things to look for when hiring a contractor:
- Licenses and Certificates
- References and Reviews
For some projects, you should never attempt a DIY as this not only can devalue your home but could be dangerous. For projects, you do not know how to repair always reach out to a contractor and get a quote.
While reno nightmares might scare off some from remodeling their home, with the right plan you can have an easy remodel.
3 House Flipper Tricks To The Perfect Remodel Are:
- Prep and Planning Your Remodel
- Know When To DIY Vs. Hiring A Contractor