We never planned on flipping a home, it kind of just happened. The short story is that we helped a family member buy a home that they ended up realizing was not right for them. We know, that can be quite a costly mistake. Luckily, the home was in excellent condition and the housing market was doing great so we sat down with our realtor who suggested we fix 5 simple things to get the home sold as soon as possible. And it worked! It really worked! Within a month, we had the home listed and shortly after had secured a buyer. So today we are sharing the simple things we did to get the ball rolling and how much it cost us. It’s probably important we note that we are not realtors or contractors, just a couple of avid DIYers with a tad bit of crazy in us 🙂
Here are the pictures of the home from the original listing prior to us doing anything:
These are the five things that were recommended we change:
- Remove carpet and wallpaper
- Add a fresh coat of paint
- Finish hardwood floors
- Professional cleaning
We also went a little above and beyond by adding a few items for styling purposes. These included a kitchen towel and plant in the kitchen, a welcome mat outside the front door, and a towel, soap dispenser, and some decorative items in the bathroom.
We didn’t do much DIYing here because of time constraints with our school so instead we hired people to take care of most of the labor. Below is a breakdown of each job and the cost associated with it:
- City Inspection: $300 – The city inspection consists of all matters related to city code and regulation. They come in and make sure everything is up to standard and request that you update what is not so you can get a COO (Certificate of Occupancy) which you need if you are selling the house.
- Painter: $1800 – We requested a handful of quotes and went with the mid-range contractor that had between 5-10 years of experience. Most of the cost was for removing the old wallpaper from the entire main floor. The patching up and painting wasn’t as bad as we initially thought.
- Flooring Company: $ 1700 – This cost was a deal compared to the other quotes we got. The flooring contractor removed the old carpet and refinished the hardwood floors in approximately a week’s time. Be aware that the cost could be higher if you have flooring problems or need wooden trim and/or shoehorn installed.
- Electrician: $250 – We needed an electrician to remove and replace all the 3-prong outlets to 2-prong because they were not grounded. Another minor thing he did was make sure that all of our wiring was up to code in the garage and outside the house.
- Professional Cleaning: $150 – To sell the house and truly bring out the beauty of the space we hired a local cleaning company to polish up the home just before it hit the market for showings.
- TLC: $100 – After we got all of the above done we decided to caulk to make sure corners, windows and all doors were sealed and correctly adjusted to their frames.
- Landscaping and Decor: $150 – You can’t go wrong with mulch, flowers and lava stones to make the landscape pop. We also purchased a nice outdoor welcome mat and indoor mat for potential buyers to feel a sense of home.
We really wish we had the time to do these updates ourselves, but it would have been too overwhelming and would have taken us much longer. If we did do some of the things ourselves such as the painting and cleaning then we would have saved quite a bit of money, although we did recoup the costs with the sale of the home. The important thing to note is that it doesn’t take much to get a home move-in ready even if there’s a kitchen or bathroom that could use some updating. If you have a similar project you’re diving into or are considering becoming a house flipper, now you know what it takes to get a home with good bones flipped and sold in no time at all. Now for the part you’ve all been waiting for…….the reveal:
Have you ever flipped a home or considered flipping a home? Let us know in the comments below. We can’t wait to share our next exciting project with you so if you don’t want to miss out be sure to follow us here and on instagram for the latest and greatest.
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