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RE: The Real House Flip - with @Mattifer

in #diy6 years ago

We are going to sell it. In the States, when you 'flip' a house, it means you buy it, fix it up, then resell it as soon as possible.

What I meant by the ROI is that each dollar we put into remodeling the kitchen will increase the overall sales price of the home by the highest amount. For example, if I put $5,000 into fixing the kitchen, I could see an $8,000 increase in the listing price. If I were to put that same $5,000 into improving a bathroom, I may only see an increase of $6,000 in the listing price. On the other hand, if I put $5,000 into fixing up a bedroom, I may only see an increase of $3,000 in the listing price. These are all hypothetical numbers, by the way.

Kitchens are always one of the biggest selling points of a home, so money spent in a kitchen is always money well spent.

A big part of flipping a house is knowing which areas of the home to focus on. We want to make sure everything is done well - but we want a few areas to be spectacular.

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