UGANDA, Kampala | Real Muloodi News | In Part 1 of this series, we covered house flipping; buying a property and selling it for a profit.
In Part 2 of this series, we cover the most effective renovations you can do on a budget to flip for a maximum profit.
When renovating a property that you intend to flip, don’t get carried away. If you want to be profitable, don’t hire top-of-the-scale contractors or insist on the highest-quality building materials.
Instead, here are some budget renovation options to boost your bottom line.
After completing your cost-effective renovations, it’s time to add the finishing touches that will make your flipped property stand out. Consider incorporating budget-friendly yet visually striking elements such as colorful bird art to infuse personality and charm into the space.
Hang vibrant bird-themed canvases or strategically place bird sculptures to create focal points that capture potential buyers’ attention. These artistic additions not only add a touch of sophistication but also create a warm and inviting atmosphere.
The key is to strike a balance between affordability and visual impact, ensuring that your budget-friendly decor choices contribute to the overall appeal of the property. So, as you put the final strokes on your flipped masterpiece, let the vibrant allure of colorful bird art be the subtle yet impactful detail that sets your property apart in the competitive market.
Refurbish or Reface the Cabinets
Old-looking cabinets, either in the kitchen or in the bathroom, are an ugly sight and do a lot to ruin the area’s overall appearance.
According to Adrian Obonyo, an interior designer at Concept MacFaj, if you wish to renew and update your kitchen’s look while keeping the existing layout the same, refacing the kitchen cupboards is an excellent kitchen makeover option.
Cabinet refacing, also known in the industry as cabinet resurfacing, lets you keep your existing kitchen intact while completely transforming its appearance.
A kitchen cabinet refacing transformation can include new doors and drawer fronts, new hinges, knobs and/or pulls, and molding.
And if you are on an even tighter budget, even a fresh coat of paint can goa long way toward providing a fresh look.
Make Your Flip Pop with Painting
Painting is perhaps the most obvious ways to freshen the look of a house. However, when you are hoping to sell the house you’ve bought as an investment quickly and profitably, stick with neutral colors.
“Don’t try to put your own personality into it. People want a clean slate to work with, and that means begin with neutral colors,” says Susie Carlson, a Realtor with Coldwell Banker. “Neutrals with white trim,” she adds. “That really makes it pop.”
For interiors, that means shades of creams or grays as well as very light taupes. “You want your fabrics to speak rather than the walls,” Carlson says. “Neutral colors like that let your pillows and furniture and design features really stand out. Buyers want to see soothing colors.”
Give Your Bathroom a Makeover
According to Allan Tigawalana, a plumber, you can change fixtures, cabinet knobs, showerheads, shower curtains and other such things for cost-effective bathroom makeover. These do-it-yourself improvements will only cost you your time and the purchase of the products.
He says, “The trick is to look for fixtures and handles that can fit into the old holes. That way, you do not have to drill new ones as you patch up the old ones. It thus helps to go with a sample of the old ones when making purchases so that you avoid assuming which usually leads to mistakes and double costs.”
Transform the Floor
Changing your worn-out floor doesn’t have to be expensive. Tigawalana suggests that you buy in a low-cost peel-and-stick floor.
“These are thin and do not require one to remove the old floor. Peel and stick to what is already there for a fresh look,” he says.
Many people shudder when they think of the time and effort required to put wallpaper, as well as the mess that will ensue after it is removed.
However, Irene Mirembe, an interior designer, maintains that peel and stick wallpaper is simple to apply even without the assistance of a professional. This will brighten up your bedroom, kitchen, sitting area, and living room.
Freshen Up Your Built-In Shelves
Shelves are usually neglected places. Mirembe suggests giving painting them for a fresh appearance.
She says, “That is ideal if the shelves are wooden for a beautiful look. You can also add wallpaper to the space behind the shelves to make them pop.”
With these renovations on a budget, your house will indeed look so much better, and will yield greater profits.
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