The most challenging rooms to renovate are also the ones that sell a home. Can you guess what these two rooms are? The kitchen and master bathroom.
Kitchens and Bathrooms Sell Homes
Home buyers judge the kitchen and master bath most closely for a couple of reasons.
First, these are the two places where they will spend the bulk of their time. The kitchen is the hub of the home, a place for family dinners and weekend entertaining. The master bath might not see as much attention from visitors, but it’s a prime spot for rest and relaxation.
Second, kitchens and baths are the most difficult rooms to renovate. They are costly and require a lot of handymen and labor. These rooms also take time to remodel, and people can’t be without them. Home buyers would rather pay for a home with these upgrades as opposed to doing them later on. Not to mention, it is where you start and end your day.
Tackling These Challenging Rooms
Now that you realize why homeowners are willing to pay more for the kitchen and master bath, how do you go about renovating these rooms during your fix and flip project? You need to be smart with your money while still putting in the things that prospective buyers want.
Here are a few tips for making these rooms a bit easier on the budget.
Do Your Homework
Research other properties in the area and the types of kitchens and baths they have. Also research your target buyer. Maybe your buyers would like an updated bathroom, but that doesn’t mean you need large soaking tubs with jets, granite countertops and floor-to-ceiling cabinets. If you notice that other homes in the area are simple and tidy, the same should do well for your home too.
Don’t Go Overboard
The goal is to make the property look as fabulous as possible without overinvesting. Therefore, a kitchen update may only require painting the cabinets, installing new hardware and replacing vinyl with laminate.
On the other hand, it could mean replacing outdated electrical and plumbing equipment. If the home is old, you might find that many of the materials in the kitchen and bath are no longer available. Sure, oak is beautiful, but try finding the same oak in stores today.
Preserve What You Have
Try to save as much as you can. Even if the home has an outdated kitchen, you might be able to save the cabinets. The same goes for the master bath. Again, you might be faced with costly plumbing and electrical repairs. There might even be mold in the walls. But there are ways to brighten up the space once the big work is done. New mirrors, modern lighting and functional items give this space an entirely new look.
Though kitchens and bathrooms are the most difficult rooms to renovate, they give you the biggest return on your investment!