25 Nov Home Remodeling Tips for New Home Owners
Simple Home Remodeling Tips To Help You Gain Value From Your Home
Cedar Homes is an East Coast based real estate investment company. We specialize in buying homes quickly for cash, remodeling, and then selling them for a profit. We can buy homes as-is for quickly for cash so you can avoid expensive bank loans and real estate agents. Here are some important things to consider when choosing to build or remodel your first house. Purchasing a new home can be much more expensive at first, but owning a house with new plumbing, electrical, and appliance is very valuable and can provide peace of mind. Buying a used home can save you money if you avoid common pitfalls, and spend your remodeling dollars wisely where they will provide the most value. Here is our list of tips to follow when buying and remodeling your first home.
- Know who your potential buyer will be before you choose a home to purchase.
- Spend your money improving the kitchen and master bathroom for maximum returns.
- Pick interior finishes that appeal to the majority of your potential buyers.
- Purchase a home that needs cosmetic repairs and not big issues like foundations and structure.
- Spend your budget on areas of the home buyers will see.
- Don’t neglect the front entryway, a new front door and windows can give a home extra curb appeal.
- Landscaping should be tailored to fit in the geographic area the home is located.
- Stick to basic and classic colors and avoid bright and dramatic colors that won’t appeal to most buyers.
- Pay close attention to big dollar fixes like roofs and siding.
- Granite is usually a safe play for countertops.
- Use wood floors, carpets, and tiles where appropriate.
- Three bedroom and two bath homes are easiest to resell.
- Elderly home buyers prefer single story homes, over two store, know your buyer.
- Stainless appliances are a safe play, don’t alleinate potential buyers with radical colors.
- Stage your house with undersized furniture to make it look bigger during house showings.
- Remove personal pictures and items during showings to entice potential buyers.
Over the years we have purchased, remodeled, and sold hundreds of homes successfully. If you decide to do your own home remodel then follow our tips above to improve your chance of success. Remember, when purchasing a home you should always get a full home inspection and we also advise hiring a contractor to give you an estimated remodeling budget prior to buying the home. We believe if you do lots of research in the beginning it will save you headaches and money in the long run. As mentioned above, it’s also important to know your home buyer and what’s selling in your market prior to purchasing. For instance, in areas that are primarily retirees it’s best to flip single family homes. As the population ages the demand for single story homes will only rise. If you are in an area that is primarily middle class families and working professionals then two-story houses will probably sell.
Remember, know your market and have your exit strategy figured out prior to purchasing. This will help lower your risk and increase your chances on making a profit.