Perhaps you have been watching those shows that tell you how to flip that house, but you don’t have the tens of thousands of dollars they seem to inevitably spend. What can you do that is fast and cheap to increase the appeal and selling price of a home? Here are six cheap fixes to give you some ideas.
While you can’t get a great price with major problems, buyers will excuse minor ones if they have already fallen in love with the house. That means you better make a good first impression. The first thing they’ll likely see is the mailbox. Install a new one with a few flowers around it. This will cost you less than fifty dollars.
2. Front Yard Landscaping
Another fast and cheap way to a great first impression is to clean the front yard, mow the lawn, trim the trees, throw some grass seed on any bare spots if you have time, and plant a few flowers. Neat, clean and green is the idea. Do this part yourself and you’ll be surprised how far a hundred dollars can go.
3. Clean The House Outside
It is amazing how often the front of a house is dirty – even when the home is for sale. If you want to flip that house fast, make it look good! Power-wash it if necessary, and make sure there are no stains on the the front wall nor leaves hanging from the gutters. Shine up any doorknobs or other metal fixtures. This step might cost you nothing but your time, but less than $100 in any case.
4. Stage The House
A house that is empty never feels or looks quite right. Now, it’s true that some people can easily imagine what their furniture will look like in those rooms, but not all of us are so good at such visualization. Make it easy on those buyers by having some tables, couches, chairs, and even a few paintings on the walls. If you really want to keep this part cheap and you have nice things at home, borrow them!
5. Use A House Inspection Checklist
It is not only embarrassing to be standing their with a buyer explaining why the toilet doesn’t flush, but it is little things like that which can lose a sale. Have a list of things you would check if you were buying a home, and go through your house with it, testing everything, and looking at every room as objectively as possible. Better yet, have a good friend do this for you as though he was interested in the home.
6. Make High-Return Improvements
Repairs have to be done, but many changes are debatable. Should you replace the perfectly good but somewhat ugly carpeting? Maybe. Paint the rooms? Think of the over-all look of the house if you make a set of changes, and do your best to estimate how much they will add to the sale’s price. They should add double or more what they cost.
There are often opportunities for improvements with much higher returns. A friend of mine once spent about $1,500 and increased the home’s value by about $8,000. How? The basement had big windows, so he added two walls in a corner, along with a cheap paint job and a piece of carpeting to create a bedroom. If you want to flip that house for big profits with little investment in time and money, get creative and look hard for opportunities like this.
Copyright Steve Gillman. For more on how to Flip A House, go now and subscribe to the free ‘Fix and Flip’ course at: http://www.TipsForFlippingAHouse.com