6 Renovation Tips You Need to Know Before Flipping a House

If you’re considering home renovation, whether for selling or for personal enjoyment, we have gathered some helpful hints for you. The renovation process can be messy, stressful, and overwhelming, but with the right guidance, anyone can tackle flipping a house. To make a list of essential tips for renovating a property, we sat down with our founder, Jimmy, who has been renovating fixer uppers in Georgia for over 20 years. Here are his 6 tried-and-true tips that anyone needs to know before flipping a house.

1 – Set a budget

The cost of renovation can add up quickly, so the first thing to do when you decide to renovate your home is to calculate a budget and stick to it. Even if you have an ideal wish list of the projects you want to do, you should prioritize affordability. This might mean that you won’t be able to complete every item on your wish list, but you’ll eliminate the possibility of over-spending.

To set your budget, factor in the cost of materials, supplies, and any necessary delivery or professional labor. Don’t be discouraged by these limitations, but find good ways to adapt accordingly. There are plenty of great cost-effective methods for home improvement.

You also need to plan up-front for cost overruns when flipping a house, especially if you are working on an older property. As you work, you will inevitably uncover at least one problem that needs to be corrected, such as water damage or necessary HVAC repairs, before the renovation can continue. Try to factor potential problems like these into your budget from the start by setting aside roughly $3,000 for any issues. If you finish your project and find that there are no issues that need fixing, you then have that $3,000 for additional updates or to put back in your pocket.

2 – Vet your contractor

While completing a home renovation on your own is an option, hiring a contractor can save you time and stress. When considering a contractor, it’s crucial to thoroughly vet the individual or company. Take the time to review their past projects and speak with previous clients to ensure they are the right fit for your renovation. By doing your due diligence, you can avoid potential issues and confidently hire the best person for the job.

3 – Be careful with walls

When flipping a house, homeowners frequently consider removing or adding walls to optimize space. While this can be a great way to enhance the layout of your home, it is a complex job that may require consultation with a contractor if you are not experienced with renovation. Without proper guidance, there is a risk of inadvertently removing a load-bearing wall, leading to structural issues such as sagging ceilings or other potential hazards. Adding walls can be just as difficult: finishing drywall is a detail-oriented job that requires patience and practice to achieve a smooth and even finish. An amateur drywall finish can result in cracks, bubbles, and ridges in the drywall mud.

In short, if you’re planning to remove or add walls and are unsure about what needs to be done, we recommend consulting a professional.

4 – Select appropriate materials

Flipping a house is an expensive endeavor. It can be tempting to skimp on materials in order to save some money, but it’s crucial to prioritize the quality of materials over cost. For example, if you are remodeling your bathroom and find discount flooring that isn’t waterproof, you should prioritize finding appropriate flooring instead, even if it is more expensive. Similarly, when painting walls, investing in top-notch primer and paint is essential for a flawless finish. You may spend more money (or complete fewer projects within your budget), but high quality materials usually equals a high quality renovation.

Luckily, there are still ways to save money without purchasing the subpar products. If you spend a long time planning your renovation, you may be able to wait for appropriate materials to go on sale. Additionally, you can explore budget-friendly options for hardware and light fixtures at discount stores, or scout online offerings from major retailers, which often feature a wider array of discounted items compared to their physical stores.

5 – If you’re selling, keep updates simple

If you are flipping a house in order to sell, it’s best to keep your updates simple. There is no need to go all-out with decorative backsplash or unique bathroom tile when flipping a house that you want to list. Generic updates make your property more marketable to a wider range of buyers, and they also make your home easier to stage for showings.

If you are completing the renovation on your own, it is also important to keep in mind your own skill level and experience. Some projects need the guidance of a professional in order to increase, instead of decrease, the selling value of your property. Be mindful of which DIY tasks to avoid during your renovation to ensure your home reaches its maximum value.

Conclusion

Flipping a house is a big project, but it is a lot easier with the right tips and tricks under your belt. If you have a set budget, appropriate professional guidance, and a solid plan for your renovation, you won’t have any difficulty turning your property into a lucrative investment or your dream home.