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Affordable Renovations for the Savvy Investor

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Jason Cohen of Jason Cohen Pittsburgh points out a few valuable renovations that cost house flippers relatively little to implement.

Published in: Real Estate
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Affordable Renovations for the Savvy Investor

  1. 1. AffordableRenovations for the savvy investor Jason Cohen
  2. 2. House flipping requires strategy. Savvy investors know that slapping on a fresh coat of paint and changing a few doorknobs won't bring about a significant return on their investment. The success of a project depends on its ability to stay within a budget; thus, a few carefully chosen renovations can net a larger return than haphazard repairs ever could. Aspiring house-flippers should consider undertaking these worthwhile and inexpensive updates when they purchase a property!
  3. 3. Installnew carpet. Stained wall-to-wall carpeting is an instant deterrent for buyers. Throw it out! The flooring below may surprise you; oftentimes, ugly carpets conceal beautiful floors that only need a little wax and polish to shine. If the floor underneath the old covering is unattractive, investors should consider purchasing and installing a new carpet. Either way, buyers will appreciate the clean, fresh appearance imparted by the touched-up flooring.
  4. 4. Replace Bathroom Odds and Ends. Investors don’t need to gut an older bathroom to make it shine. Grouting and caulking, while time-consuming, is an excellent way to return a grungy bathroom to its previously fresh aesthetic. Additionally, minor pieces such as sink faucets, towel bars, vanity surfaces, and medicine cabinets can be replaced at relatively low cost and up the attractiveness of the space.
  5. 5. Paintthe walls. Never underestimate the value of a good paint job. A new coat can do wonders for an older space by imparting a sense of freshness to spaces that appear dated or run-down. When painting, investors should opt for a neutral color palette in order to avoid turning away picky buyers.
  6. 6. Consider your landscape. A buyer makes their first conclusions about a property before they ever step foot through the front door. All the time and money an investor spends on a property’s interior may amount to nothing if the shingles on its exterior are shedding or the grass in unkempt. Mind the landscaping! A quick mow of the yard and a bit of garden work doesn’t require much time or money and makes a tremendous difference to buyers.
  7. 7. Mindthe budget. In the end, budget takes precedence. While a house flipper may want to completely renovate the kitchen or replace the plumbing in the bathroom, such pricey changes might not always be feasible. Investors should consider repairing rather than replacing, and ditch non-essential renovations if they find themselves spending more money than they anticipated.
  8. 8. THANK YOU! For more real estate investment advice, visit Jason Cohen's site at: JasonCohenPittsburgh.com

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