Finishing up a flip is a great feeling. For my newest flip, I knew what to look for in the home and it paid off. So, what did I see in this house that others missed? A few things. Let’s get into the potential I saw and the two things I KNEW were irresistible about this house.
Choosing a House Many Others Passed On
I love seeing the potential in a house. Plenty of buyers passed on this home, likely because they weren’t sure what to look for, or the signs of opportunity. When it comes to walking through a house, there are plenty of areas that may not seem as though they’re worth the trouble.
This is the story of the house that lingered. Some updates had been made within the decade prior, but there was still a significant list that still needed to be done.
What really hurt the marketability of this home was most upgrades made didn’t translate to much of an increase in value. For instance, there was still one bathroom on the main and upper level, the basement was primarily unfinished, and the lower level bathroom was not suitable for everyday use. Thankfully there were some positives, including new windows, a newer A/C unit, and a slightly upgraded kitchen (which still needed some more cabinetry).
When I came across this home, it had been sitting on the market but I saw the potential. So I gave it a shot and went for a walkthrough.
As I walked through, I noticed the main opportunities lied in the upper and lower levels. The upper level was one large bedroom and was in need of a private bath suite to truly create a retreat. The lower level was perfect for a 4th bedroom and bath, family room, laundry room, and fitness or storage space!
With the addition of these spaces, we would be adding over 1,000 livable square footage which made this one of the larger homes in the neighborhood.
Room by Room Changes
Room by room, here’s what changes were made during this flip.
Kitchen
As I mentioned, the kitchen had seen upgrades within the last 7 years, but there was still plenty to do.
First, we added new cabinetry for additional storage. The existing countertops and cabinets were custom, so adding new semi-custom cabinetry and matching the finish on all allowed for us to work with what was there.
The countertop and backsplash were replaced with quartz and a square subway tile with irregular edges for interest and to break up all the white. And last, the kitchen floors were stained with a medium wood tone.
Porch
One of the areas I focus on when looking at homes is the access points to the home. Inexperienced flippers may overlook this opportunity, but making changes and upgrades can add a lot of value to the home.
This house was located on the corner and had a detached two-car garage in the back. There was a porch on the pack of the house, but there was no food from the porch to the backyard. This leaves you with only two ways to get to the garage: Either a side door or the front door. Both are not ideal.
With the addition of an exterior door, now the backyard and garage can be accessed from the back of the home. Adding some hooks, a bench, and a seating area allows this space to now be used all 4 seasons.
Upper-Level Bedroom
In most 1 ½ story homes the ceiling height is limited or even challenging in some spaces. Thankfully, that wasn’t the case here.
With soaring ceiling height, we were able to add a large walk-in closet, a bathroom with a five-foot shower, a double vanity, and a seating area off the main bedroom space.
Lower Level
Most homes I see have unfished or partially finished basements. They’re typically not spaces people want to spend time in, making it a perfect opportunity to add spaces that add square footage and unlock a home’s full potential.
Since we’re already there, why not add the bedroom and bath spaces, too? Trust me, no one wants to run up a flight of steps and across to the other side of the house to get to a bathroom. Leaving this out of a plan can cost a home an extra day on the market.
Finishing the laundry room and bonus spaces again is an easy way to add square footage and since we’re already doing all the electrical, plumbing, ductwork, and drywall, the cost is minimal. We also added a lower-level bar for snacks and beverages. Buyers can easily see themselves living in the space enjoying movie nights.
Miscellaneous Updates and Renovations
Along with these more extensive changes, we did the traditional updates and renovations including light fixtures, an entirely new main floor bath with new tile, tub, and vanity, and neutral paint throughout.
The exterior of the home needed some improvements since there were multiple materials that were not quite cohesive. There were areas of siding that needed to be replaced, some original stone that was beautiful but not in any tones that were easy to coordinate, and there was some brick that needed repair and the new mortar didn’t work with the original details.
Why This Home was Irresistible
Like I said, the home had lingered on the market. It was passed up again and again, but I saw two huge things that made this home irresistible: Location and size.
Compared to all the other homes in the neighborhood, it was larger and offered more living space at a price that’s not typically found. In the end it was those two components PLUS the new renovations that created a winning combination. Within a few days this home was under contract.
Ready to take that next step when it comes to flipping?
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