Flipping properties is a good way to make a side income or even support your family outright. However, to successfully flip a home, it’s important to increase its market value, appeal, and overall desirability. You do this, of course, by making home improvements or through remodels to enhance what the home has going for it and perhaps camouflage any less-than-ideal features. It’s important to stick to a budget during this process, though, to get a return on your investment, meaning you aren’t putting money in you aren’t going to turn around and get back out. In addition, what type of projects you should focus on will vary based on the seasons. The following is some practical information to keep in mind when you are flipping a home in the winter season:
Upgrade The Doors
The front door can be one of the first places that show the age of a property. To counteract signs of wear and tear, consider upgrading the doors of your flip. You will have to determine if the cost applies to the increase in appeal it would give you. If you aren’t sure you should spend the money to outright replace the doors, you can always refinish and repaint them to create a fresh look. However, during the winter, especially in the colder parts of the country, upgrading the exterior doors can be a significant selling point as they will be more weatherproof and energy efficient. In other words, it will keep the warmth of the home indoors, instead of letting it seep out around a poorly sealed front, garage, or back door. Keep in mind if the doors are damaged, too thin, poorly insulated, or don’t latch properly, they are good candidates for out-and-out replacement.
Upgrade the Heating System or Have the Fireplace Serviced
Another upgrade you most certainly want to make, especially in the winter season, is ensuring that the home you are putting on the market will warm up inside and stay comfortable. This might mean upgrading the HVAC system or improving various elements of the unit. It could also mean having a professional come out and service the fireplace to ensure that it can be used. If it’s a gas fireplace, make sure everything is cleaned, the unit works properly and has plenty of fuel. Having a fire burning in the fireplace when a potential buyer comes to tour the house will most certainly boost the overall appeal of the property. If the property doesn’t have a fireplace, this might be one splurge project you should consider, as the appeal is immense, especially in the winter.
Consider the Flooring, Upgrade if Possible
Flooring is always an important feature of a home, no matter what time of year it is, but perhaps in the winter, more so than other times of the year, the comfort and warmth of a home’s flooring come into play. Therefore, another project you might consider is having carpeting installed instead of hardwood or switching out laminate for ceramic or even heated tiles. If you want to keep the floors as is, and they are perhaps real wood, consider having them redone and then investing in some pretty throw rugs to stage the space. Anything that will make the home feel more comfortable and inviting is a good idea, especially in the wintertime.
Check The Insulation in the Attic and Fix Leaks or Cracks
Although the attic might be out of sight and out of mind for buyers touring your property, the result of a properly insulated house is comfortable and inviting in the chilly months. Check the attic of your flip and see if the property would benefit from adding insulation. This is a pretty cost-effective way to make the space more inviting. Be sure to tell buyers about the improved insulation as a selling point. It’s also a great idea to check for cracks and leaks around doors and windows in general. Losing valuable heated air from the interior can make a space uncomfortably chilly and demand more energy costs from potential buyers, which is something they won’t find appealing. Fixing all these issues from the outset is a great way to be able to present the property as energy-efficient and insulated throughout.
Upgrade Light Fixtures
Although upgrading light fixtures can be a good idea for any property you plan to flip, doing so when you are putting your property on the market in the winter is especially advantageous because it helps boost the interior appeal and light up the space during dark evenings. Make sure that you update fixtures to energy-efficient models and consider adding features like dimmers and more to further enhance the interior.
Update Registers and Hardware Throughout The Home
While a full remodel of the kitchen and bathroom can most certainly have an impact on your property’s overall appeal, this type of renovation can be costly. Instead, improve the look of these spaces and throughout your home by changing out all the hardware and registers in the home. Upgrade the pulls, handles, and knobs and create a cohesive style throughout the property. To improve the looks of floors easily, without much investment, switch out the registers with those that are of higher quality. Opt for the wood-like options or those that are dark-colored for a dramatic and quick improvement.
Add Crown Molding
Last but not least, consider adding crown molding to the interior of your property. This will make the space look fabulous, doesn’t require that much of a monetary investment, and also increases the home’s overall value. This can make the space look more inviting, which is especially nice in the winter when you want to welcome guests in from the cold outdoors. You can add molding to the entire home or just focus on the common areas like the kitchen, dining area, and living spaces. Either way, it’s a great improvement that creates an instant impact and isn’t difficult to complete.
Consider Hiring a Professional
When you make up your mind on what projects you want to attempt to warm up your flip and get it ready to go on the market, consider reaching out to a professional for the services that need a professional’s attention. For example, while you can likely easily handle replacing standard registers or switching out hardware, it’s good to hire someone to install carpet and new flooring, perform fireplace maintenance, install crown molding, and even light fixtures in some cases. This will ensure that the improvements you are making will actually enhance the space and have the effect you want to create on potential buyers.
Megan Isola
Megan Isola holds a Bachelor of Science in Hospitality and a minor in Business Marketing from Cal State University Chico. She enjoys going to concerts, trying new restaurants, and hanging out with friends.