House flipping has become a modern phenomenon, as television channels are filled with shows about married couples, divorced couples, mother and daughter teams and every other relationship under the sun, all brought together in their common quest to “flip” a house. Flipping a house means buying a property, likely for a discount price due to its condition, and quickly performing the necessary work to make it an attractive buying option – hopefully generating a considerable profit in the meantime.
Usually, people who work in the field of house flipping find that they have preferred design schemes – it makes it cheaper and easier to just buy more of the same materials, plus a lot of design ideas for flipped houses should be neutral and “one size fits all” so that buyers can project their ideas onto them. However, that’s the conventional wisdom, and it’s something that we discourage in some cases, as you’ll see the outline below. There are some ideas that we are happy to share here about the kitchen area of a home specifically, and some hot new house flipping ideas.
Go with a daring paint job
There are several ways you can go with the paint job on a flipped house’s kitchen. As noted above, a lot of people subscribe to the idea that neutral colours are the way to go. Something like beige or taupe is not exactly in fashion right now, but an all-white scheme is a way of making a true statement with neutrality. Additionally, many people find all-black kitchens to be a very chic look that appeals to a lot of potential buyers. You might also consider using an accent wall to provide a pop of colour that catches the eyes of buyers. A fresh coat of paint goes a long way no matter what you choose, and research shows that many buyers feel invigorated and motivated just by the smell of fresh paint – an added incentive for you.
Cabinets give a great ROI
One of the terms that you’ll quickly want to familiarize yourself with is ROI – return on investment. You never want to over-improve a property given its neighbourhood and status, because you are just throwing money down the drain at that point. Bring it up to the standards of its neighbours, of course, but if you go any further than that you’re decreasing your ROI. One of the best places to earn some extra money on a flipped house’s kitchen is when it comes to the cabinets. Many new flippers are pleased and surprised to learn that this doesn’t necessarily mean replacing the entire structure. Rather, the cabinet itself can stay and only the fronts need to be replaced. It’s a very low-cost way to refresh the cabinets and has the potential for wonderful ROI.
Hardware should be addressed
Hardware like faucets and cabinet ware is one of the easiest ways to make a kitchen look new and sparkling. When a prospective buyer comes in and sees metal or glass hardware shimmering, it can be an exciting opportunity to see how new everything is. This is not a place to be “trendy” – these things can be divisive, and you want to find a look that is both modern and classic to maximize the number of buyers that you’re appealing to. Materials like brass can be dated, whereas a material like brushed nickel gives you the chance to appeal to the greatest numbers of buyers. A gooseneck faucet can also be a nice look, especially for buyers who are just entering the market for the first time. If you’re looking to make inroads into the higher-end market, then you’ll likely need to invest in additional plumbing gadgetry like spray nozzles or touch-less faucets, but only consider these additional expenses if you’re purchasing in a pricey market.
Don’t forget to look down
Many older homes have laminate flooring that can show its age over time. It can get dirty and dingy and peel up around the edges, which is a dated and worn-out look. This can be an instant turn-off for buyers, so any worn laminate flooring needs to be addressed – no negotiation.
Tile is typically a great choice because it gives a clean and professional look to any kitchen space, but it can be expensive. Make sure that you’re within budget if that’s a route that you want to consider. This is another example of how higher-end markets can differ – they might be expecting to see tile flooring in an expensive neighbourhood that they might need in a medium or lower-cost one, so know the area that you purchased in before making a flooring decision.
Appliances are a selling point
The form can matter more than function when it comes to appliances – the market of buyers who want banana yellow refrigerators is likely quite a bit smaller than the ones looking for white or stainless steel. They’re a great selling point, too, and can impress home-buyers who have entered the market for the first time. Appliances that are a good grade for home flipping can be found at most home improvement stores and can give you a nice look at your flipped house’s kitchen. These stores can also offer wonderful bargains, especially in the form of last year’s appliances. These do not change all that much from year to year, so if you can find a refrigerator or stove from last year then chances are you’re going to pay a much lower price for a very similar product and improve your chances at a good ROI.
House flipping is something that should not be entered into lightly. There’s a lot of information to consider, so make sure that you do all of your research. Working within the kitchen is a great place to find some opportunities for value, and a good place to start appealing to prospective buyers – especially first-time home-buyers who can be impressed by some of the touches that they’ve seen on television for years now.