Many buyers looking for a move-in ready home are keen to find an upgraded kitchen and bathroom. These areas will wind up accounting for a significant portion of your renovation budget in many cases. They are a great place to invest to increase the appeal of a property and command a better asking price. Of course, there is still an upper limit as to how much you should spend on bathroom and kitchen remodels. You should do enough to modernize and bring these spaces up to date, but reserve the high end finishes and luxury amenities only for houses located in the appropriate neighborhoods. No matter how much marble and exotic wood cabinetry you install, buyers will not be willing to pay much more than what the market will bear. It can be easy to get overly excited when you have a great idea for a space. Reign in your creativity and make sure you are making practical changes that will benefit not hurt your bottom line.
Here are a few kitchen and bathroom remodeling tips for home flippers:
- Leave the fixtures where they are. Unless the original layout of a kitchen or bathroom is truly a problem, try to design around the existing placement to save some money. It costs much more to install new plumbing or move existing plumbing than it does simply to replace a few fixtures while leaving them where they are.
- Bathtubs are not out. While walk-in showers are rising in popularity among homeowners, real estate professionals agree that having at least one bathtub in the house is important. Families with young children or those who enjoy taking baths will not consider your home if you do not have a bathtub. This rules out many potential buyers, which is the last thing you want as a house flipper.
- Have the plumbing inspected while you are at it. It is much easier and more cost effective to have any plumbing repairs and other necessary work done during remodeling when everything is already torn down or taken out than to go back and do it later when a problem is discovered. If you are going to be redoing the kitchen or bathroom, have your plumbing contractor come by to check everything out first before you start putting in the new cabinetry and repainting.
- Keep it neutral. Again, you are designing the house to sell so your personal touches and tastes should be left at home – specifically your home. Choose colors and finishes that have mass appeal. For kitchen countertops, granite is a must for house flippers.
- Give yourself enough time. Some remodeling materials are not readily available and need to be ordered ahead of time, as they can take anywhere from a few days to a few weeks to arrive. When flipping a home, time is of the essence. You want to finish renovations and find a buyer as quickly as possible. You don’t have time to sit and wait for your custom cabinets to come in. Before getting down to work on the kitchen or bathroom, place the order for any countertops, cabinetry, flooring, or other materials you will need.