13 Best ROI Updates for Flippers
A good house flipper typically takes a subpar property and turns it into a highly desirable one, essentially turning a frog into a prince. Still, house flippers must walk a fine line between improving a property enough to attract buyers and keeping costs low enough to preserve their profits.
The most effective way to maximize your profits is to track the return on investment of various home improvements and renovations, just as you would if you were projecting income from a rental. After all, if you spend $20,000 putting in a swimming pool and doing so only ups the sale price of the home by $10,000, you’ve lost money. Lose too much money on an unwise renovation and you may have to unload the property to a cash buyer. On the other hand, if you spend $500 painting the interior of your home, and it increases the value by $5,000, you’re on the right track.
There are a lot of home improvements that offer a great ROI. Here are 13 renovations that will have buyers lining up to make an offer.