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Tips that will sell your investment faster and at a higher price.
We help a lot of investors Buy, Rehab and Sell homes in the up and coming neighborhoods in Philadelphia . Flipping homes is not as easy as it looks on HGTV. Flipping a property takes A) knowledge of the neighborhood, B) knowledge of the Real Estate Market, and C) know how as far as orchestrating the contractors, permits and particulars. Oh and most important of all, D) Flipping requires MONEY. "Cash is King" as we always say.
In this post I have included before and after pictures of one of the most recent successful flips of a New Kensington Row Home that we were involved with. Here is a before blog we did: 2541 Emerald Street. I would like to highlight some of the finishing features that will make your rehab not only stand out from the rest, particularly for investors flipping homes in the up and coming Philadelphia neighborhoods, but will also increase the chances of selling faster and at a higher price. This Subject property is just shy of $200,000 and needed a full renovation. For some of you reading you may not be flipping a home or your renovation may ne be as extensive as this one. Nonetheless, the tips below can be applied to any home that you are upgrading or updating, applicable to not just the Philadelphia Real Estate market, but to any local market that you are in.
First Floor: Your first floor needs to deliver the most features such as Hardwood floors, an open layout, side staircase vs a center staircase that can divide a small space making it look smaller, a powder room, plenty of natural light, and recessed lighting. All of these suggestions will provide the "BLING" factor that many buyers look for in a home.
Kitchen: Don't be cheap and ordinary. Don't skimp on the countertop or appliances, particularly the range and refrigerator. The trend in remodeled Philadelphia Row homes is definitely leaning toward the contemporary designs over traditional. Even in older homes with outdated features, adding some contemporary touches makes a huge impact on the sell-ability of the home. Some examples of these features includes: islands for extra storage and seating (if the space allows). Choose flat panel cabinets vs the traditional styles and avoid "starter kitchens". Wood stains can vary but hardwood flooring flowing into the kitchen unifies the space and makes it look larger. Exposed brick or a trendy back-splash adds character and will add to the "bling" factor" I mentioned above.
Other rooms in the house: Features such as high ceilings give small rooms a Big Feel. Light colored carpeting in the upper bedrooms and hall is less expensive than hardwood and is certainly a good option if you need to save money. Light colored paint is a must on the walls with bright white trim particularly when it comes to smaller rooms because white expands a room along with good lighting. If a room is dark, add light.
Bathrooms: Always maximize the space in a bathroom by choosing a vanity that properly fits the room. In the bathroom below, the room was very narrow but a carefully chosen vanity offers storage without overwhelming the room. Below the natural pebble floor in the shower is complemented by a faux wood grain tile, and white subway tiles. The feel is luxury spa. Who does not love that ? Get the most bang for your buck by contemplating the "bling factor" for the powder room and master bath. Guest baths can be more basic.
To wrap it up: Always make the first floor an eye catcher and the "bling factor" can be carried into master baths and powder rooms. Open layouts will sell faster and at a higher price than layouts that are formal, modular, or divided by a staircase. Don't skimp on the kitchen appliances. Invest in the hardwood floors and recessed lighting for the first floor. Make smaller spaces look larger with bright white trim and plenty of light.
(A shout-out to Universal Building & Construction Inc. for this fab rehab !! For more info call Cindy at 215-399-6251. Mention Stephanie )
Look at my live video below of the interior of this New Kensington Row Home and catch some other tips that wil sell your property fast and for the highest price.
The Philadelphia Real Estate market - our experiences, thoughts and insights. Philadelphia Realtor, RE/MAX, Top Realtor, thesomersteam, Philadelphia Living, Philly, title, mortgage, team leader, investor, Philadelphia investment properties, center city, condominiums, new construction, developer, real estate investor, tax abatement, Philadelphia arts, artist, Philadelphia dining.
Norris Point in Fishtown will 10 New Construction Town Homes with ground breaking underway. Here's a Sneek Peak:
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.