Being a house flipper can be expensive because regardless how much research you do into a property, there is always some unwelcome surprises that could blow your budget. This means you need to look at your options and work carefully with what you have available to you. You will find there are some great services out there to help you with this and finding the right ones will ensure the safety of your remodels, and that your builds are completed to a high standard.
#1 A Fix and Flip Loan
You might find, as a house flipper, that things rarely go entirely to plan and tend to creep beyond your budget. Over time, you are going to be more savvy, and realize you need a plan B for when this happens so you aren’t stuck with a half-finished job. You can help cope with the financial stress by taking out a fix and flip loan from somewhere like Sachem Lending to help you complete your project on time and effectively. Having this extra backup can mean you get projects completed faster and move on to the next one.
#2 Professional Electricians and Plumbers
Using professional electricians and plumbers should be common sense, as you are creating a safer environment for your buyers and yourself – but it is often overlooked by people trying to cut corners. This is usually a false economy as you will need professional electricians anyway to make sure that you can show a certificate to show that the wiring is completed to the relevant building code.
You’ll also be able to reduce the risk of leaks and decrease fire hazards, both of which can leave your project in ruins. Hiring professionals can be expensive, but it is a good investment and something you need to build into your budget from day one.
#3 Outdoor lighting
If you are just finishing off a project, you might be wondering how you are going to get that extra ‘wow factor’ into your build. Outdoor lighting can be a great way to add character, as well as build some extra curb appeal. Whether it is just a couple of lights dotted around the garden or you have gone for all-out spotlighting to make your house stand out, outdoor lighting can refine your project’s personality and bring potential buyers flooding in so you can score a quick sale.
#4 Hardwood floors
Hardwood floors can be expensive, but in reality, theyare your best friend. They are easy to manage, easy to clean and they can look great to prospective buyers. You will find that it also opens up opportunities to show your interior design flair, as it can give you a much larger scope and creative freedom.
It can also help you work with a greater variety of colors on the walls, add rugs to your decor without it looking cluttered, and just generally add more of a ‘wow factor’. You will find that you are much more likely to sell a house this way, as many other house flippers won’t be adding such features.
