Buying a house as an investment with the intention to flip it is a smart, fabulous way to diversify your portfolio, especially if you have any interest in architecture, interior design, or do it yourself (DYI) projects. Flipping houses can be a career, one time deal or something done on the side whenever the right opportunity arises for investors. Wherever you lie on the spectrum of house flipping there are a few can’t miss ways to improve a home for resale.

Take Time With The Kitchen
Probably the most important room in the house to pay extra special attention to is the kitchen. Upgrading this room is a surefire way to double the dollars put into renovating the house. Families spend a lot of time in the kitchen and if it is out of date or badly designed it will be an instant turn off for potential buyers.

Kitchens should have updated appliances, sufficient storage space, plenty of counter space and above all designed for functionality. Little touches in this room can go a long way; stylish back splash tile behind the stove, an island in the middle providing extra work space and storage, new cabinets or sink and faucet will prove to be very worth while, for both the seller and buyer.

When looking at the design of the kitchen really take into consideration opening up the space if possible. Many families enjoy kitchens that open to the living and dining room, instead of being a closed off separate room. This is because it allows for whoever is preparing the meals to still be a part of the action; helping children with homework, listening to the news, catching up with the spouse on their day all while cooking dinner. If a wall can be knocked down, fully or partially, to open up the space if it is not already is a very smart move.

Adding An Income Property
If the house you are flipping has the possibility or potential to add an apartment or in-law unit, definitely take advantage of this price increasing addition. A basement can often times be transformed into its own unit, or an in-law unit in the back yard can be upgraded with a bath and small kitchen. This provides buyers with the option to use it as their own extra living space for guests and family or to rent it out to someone; supplying an extra income to assist with mortgage payments.

Outdoor Space is Living Space
Utilizing the outdoor space of a property is a fabulous way to add more value to a house. Many home owners treat their backyards as an extended room of the house adding a feel of additional square footage. Adding a fire pit, outdoor bar, or eating area is a great way to upgrade a property. Many families and couples enjoy spending time outside and entertaining in their backyards, sprucing it up and treating it as another room is a fabulous way to bring more value to the house.

When flipping a house it is very important to not make it personal. Remember you are not doing the renovation on the home as if it is your own; keep all design choices neutral, functioning, and up to date with good taste and style. While you may like things a certain way, the goal is to make the house appealing to as a large a group of potential buyers as possible. Show them the possibilities but give them the foundation of everything they need; a turn-key home with all the design and perks they are looking for, will be a success on the market.

Eldon Shaw’s father was a seaman for over forty years and he recommends Doyle Raizner LLP if you are searching for a Maritime Lawyer.