Whether you’re revamping an old home completely or making some changes to the overall aesthetics, you’ll have to make some tough decisions when you’re involved in a house flipping project. An attractive home interior design is key to getting the most value from your investment.
Before you meet with your contractor for home renovation, you must be prepared. To reap the best returns, make it a point to get the property to look its best. In this article, we share some tips on interior design for your next house flipping project.
What is House Flipping?
House flipping means buying a property for the purpose of selling it again for profit. This isn’t just a plain buy-and-sell case, however. House flipping entails having to do necessary renovations. In order to resell the property at a higher rate, it should look brand new and marketable.
What are some factors to consider when choosing a house to flip?
The first is location. Where should you buy? If you choose a house in a relatively new neighborhood, it’s important to make sure that the neighborhood does have the potential to increase in value. Opt for buying in a new development, and you have to commit to landing high-end buyers. If things run smoothly, you’re guaranteed a great profit. However, one little problem could leave you with a property you can’t sell.
Another thing to consider is whether you should really do renovations or simply build a new house to sell. In this step, you should perform a cost analysis to compare what will work better for you considering your capital.
Lastly, what type of property do you want to get? If you move forward with a fixer-upper, you have to invest time and money to improve the home. Another option is to buy a foreclosed property from a bank, in which case you can get it at a very low price. The downside of this, however, is possible issues with the upkeep, so expect the worst like pest infestation or major structural damages.
Why Do We Need Interior Design in House Flipping?
Now that you have a better idea of what flipping a house means, make sure your project is a success. One aspect you should never neglect is interior design.
Why do we need to decorate the space we flip? It’s simple. Staging your home will attract more potential buyers and possibly allow you to mark up your prices.
Follow these five house flipping design tips to elevate any real estate in the Philippines.
1. Get inspiration from the house’s architecture and neighborhood.
Before making significant design decisions, you should identify the home’s key features and the neighborhood’s aesthetic. This gives you some insight into what home buyers are looking for in that area.
2. Use a neutral color palette.
While you want your house flipping project to have some personality, you wouldn’t want to turn people off with a bold or brash design. Using neutral hues makes the property feel inviting and warm. It also appeals to different styles effortlessly.
3. Invest in good-quality flooring.
Most old homes have flooring issues because of the wear and tear they experienced throughout the years. Investing in elegant flooring can give your house flipping project a fresh vibe.
4. Upgrade kitchen and bathroom hardware when you’re house flipping.
Old and rusted faucets and drawer handles can turn off buyers from an otherwise gorgeous home. Switching them with new items or fixing them up can significantly impact a house flipping project’s overall appeal.
5. Hire an interior designer before selling the property.
If you’re new to house flipping, you should leave the property in the care of certified experts. Interior designers can access resources and experience helping property owners maximize their homes. Homebuyers are often in the market for perfection, and we can help you make the space the best it can be.
Set Yourself Up to House Flipping Success
Whether or not it’s your first time engaging in house flipping, expert help can transform any house into a dream home that more people would want to get in a heartbeat. You can get your money’s worth and more when you have the right people on your team.
To elevate your house flipping project, contact IEO Interior Design, and let’s see how we can work together. Visit here to book a free interior design consultation.