Kitchen Renovation On
Your Next Flip
Have you had these
thoughts in your next or perhaps latest project? What is the best look for the
kitchen in my next flip? What is trending today? What is going to get me the
best Return On Investment (ROI) with the least amount of capital put into the
project?
Planning and
coordinating the do’s and don’ts of any fix and flip can be tedious, stressful,
and quite literally make or break you. Creating masterpieces in a flip is also
very exciting, satisfying and can be financially rewarding if done right. While
there are arguably certain things that can be done to a home to create value, I
believe that most would agree kitchen and baths are two of the greatest selling
points of any house they are also two of the more expensive areas of the home to
remodel that add appeal and value to a buyer. With that said, how does one
decide what to do in the kitchen in your next flip?
The first question
should be, what is your budget? The second set of questions should be, what are
the homes that are remodeled/renovated listed on the market in the same or
similar neighborhoods doing? What’s trending? What are the buyers in the
demographic you are appealing to wanting in a turnkey home? At the end of the
day, get out there and tour some homes, speak to your real estate professional and
your contractor to determine the answers to these questions and then figure out
how to make it happen with thin the budget you have created to come out of the
project with the greatest ROI!
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