Apply new liner to all cabinet shelves and drawers.Refinish the cabinets, if needed, and add new knobs and handles.

Re-carpet, refinish, or replace damaged or worn flooring.

Install new light switches and outlet cover plates.

Doors should open and close effortlessly.

Check and repair all doors and doorknobs.

Apply a fresh coat of paint to all rooms, using flat, neutral colors for the walls and semi-gloss white for the trim.

Remove hooks and nails from all walls and patch the holes.

Clean or replace any drapes or curtains.

Replace the mailbox, choosing a color and design that fits in with the neighborhood.Replace the front and rear storm doors.Install splash blocks or gutter extensions. Power-wash the siding, tuck-point a brick home, or paint a wood-sided home.Replace dead or dying shrubs and plant flowers, especially near the front.What’s the lesson? Perfect your property’s curb appeal, so the buyer is excited to see what’s behind that exterior. Why? Because people do judge the house from the outside, and a negative first impression is hard to undo. One thing all the aforementioned TV house-flipping shows have in common is that they (almost) always show the potential buyer’s first impression when arriving at the property.

Refer to this checklist when you buy your fixer-upper, and avoid jobs not on this list. Hint: make sure you research how much other homes are selling for in the area, as well as which homes sell the fastest and what they may have in common. In other words, before building a tennis court, install a strong, stately front door and manicure the front lawn. You never want to spend more on your renovations than the property is worth.However, if you don’t do your due diligence, you could lose your investment, or worse.Įspecially if you’re a first-time flipper, look for quick-flip opportunities: cosmetically challenged homes that you can beautify and sell without a huge investment of time, effort or money. Indeed, buying, rehabbing and reselling a home to earn a profit is a legitimate way to generate income. In this report, we’ll tell you what you should fix - and what you shouldn’t - to minimize costs and maximize profit.Īs a bonus, we’ll also share our top tips on how to cut down on your costs.īut, first, the awe-inspiring stats (from ATTOM Data Solutions): in the first quarter of 2017 alone, there were 43,615 single family homes and condos flipped, accounting for almost 10% of all homes sold across all markets, flippers averaged a $64,284 gross profit. With the popularity of TV shows like Flip or Flop, House Hunters, Million Dollar Listing and Property Brothers turning every bored grandma and recent college grad into a budding house flipper, it’s more important than ever to share our knowledge on what works, and what doesn’t.

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