If you are a fan of DIY projects, then maybe it has already crossed your mind to begin one of the biggest tasks that someone could take on! Renovating a house!
Some people renovate a house in their ideal location with the ambition of turning it into their dream home, whereas others simply love the designing, building, and creative side of renovating a house to sell. If you are in the latter group, check out this guide to how you can renovate a house to find out everything you need to know!
Choose the Location
First things first, you need to choose a great location. It is all very well choosing a property that looks good or needs saving, but if you are looking to sell after, it needs to be in a desirable area where people will want to snap it up! The best way to look at it is probably to buy the ‘worst house’ in the best location. Whether you choose the house or the location is up to you – whatever catches your eye first.
Get That Budget Down
Before you go ahead with anything, sorting out a budget, which is as detailed as possible, will be your secret weapon when it comes to taking out unnecessary stress and making a profit on the house when it sells. It might be that renovating the house becomes an investment, where you need to borrow some money upfront to make it work. Although, even the best of planning can leave you cut short, so if you need to borrow some money from hard money lenders, just make a plan and make sure it can work.
The bottom line is you do not want to end up paying more than you sell the house for if your goal is to make a profit in the end.
Focus on the Essentials
It is so important to get the essentials right on the first go around; otherwise, you will find that you are stuck with some fundamental problems that could render everything else useless, or even worse, a sinking money pit. Make sure the home is structurally sound, that the walls and mason are secure, any leaks or damp issues are fixed, and that the wiring is all checked. It might be tempting to jump straight into the budget with a claw foot bath, but no one is going to be happy having a bath under a leaky ceiling!
Central heating is also worth the investment and is considered essential by many who are looking to buy a house, so it is definitely important to think about what buyers would consider essential too – after the basics are covered!
It is the Little Things
While sorting out wonky doorknobs, replacing the carpet, or sprucing up the light fittings will most likely not add any extra value to the house, it will make it much easier for the house to sell. Do not underestimate the power of the detail!