So, you’ve bought a fixer-upper home among the residential homes for sale in Granada Hills and are getting ready to renovate it so you can resell it at a good profit. However, a question keeps bugging you: “Where do I even begin?” When you initially started this project, purchasing, repairing single-family homes in Porter Ranch, and selling for profit didn’t seem like much labor. But now that you have started it, it appears that there are a million things to do.
If you are new to remodeling, you must ensure that you have purchased a good house — in this case, a home that requires simple repairs. That means you should avoid houses with structural issues such as unstable floors, cracked walls, seepage, dry rot or termite damage, fire damage, and other structural defects. The same is true for electrical, plumbing, and heating systems. These defects can be time-consuming and expensive. It makes no sense to bite off more than you can chew.
Although homes with such flaws can typically be purchased at a lower price, the estimate and expense of making such repairs, not to mention the experience required, can quickly eat into the novice investor’s profit margin. Then there’s the anxiety! So, keeping it simple is vital.
First and foremost, remodeling is like any other endeavor in that it necessitates the development of a strategy. So, the first thing to do is to develop a strategy!
Where should you start if you have a property that needs cosmetic improvements? Here’s a strategy for rehabilitating single-family homes in Porter Ranch:
Begin with the exterior
You’ll want to make the property look appealing from the street. This involves some minor aspects, such as tidying up any junk or trash, trimming back overgrown bushes or trees, and overall making the property aesthetically pleasing from the street. Save the minor elements, such as flower planting, for later. For the time being, just get it cleaned up!
Assess the interior work that is required
Home spaces are grouped into three main parts: the kitchen, bathrooms, and living areas. The kitchen and bathrooms will probably be the most expensive rooms to fix, due to the kind of activities they house. These spaces are frequently a house’s main selling points. Make a budget and decide what you want or need to do with each, strictly adhering to what you want to do.
Clean it out
Just as you did with the outside, make sure you get rid of everything inside before you begin working. It’s much easier to clean and arrange when you don’t have to work around leftover boxes, furniture, spoilt appliances, or cloth piles!
Leave no stones unturned for interior design.
Ensure that you or whoever you employ to conduct the inside remodeling does an excellent job. Don’t forget to replace all outlet covers and switch plates and adequately mask any trim as you paint. Buyers will notice if you skim over the minor details.
Put the final touches on your home and begin selling it for sale. Actually, you can start the marketing process sooner—often while still working on the interior (which is one of the reasons for cleaning the outside first). Then, focus on the minor details, such as putting flowers outside and updating the house numbers. View the house from a buyer’s perspective.
Ensure you value the house accurately.
Whether you decide to sell it yourself or use a realtor, ensure you have accurately priced the house based on recent comparable sales. Starting with an excessively high asking price can let a house languish on the market. If you set the cost price too low, you will not optimize your profit.
That’s all there is to it. You’re ready to start over once you’ve sold your house. Have a good time!
Buying residential homes for sale in Granada Hills, remodeling, and selling single-family homes in Porter Ranch can be so frustrating but having a good real estate agent on your team makes everything easy. Ensure you get a good realtor to ensure the process is smooth for you. Contact a realtor today!