Renovating a property can be a fantastic investment, but it’s also a massive undertaking. You will need either a solid understanding of construction and real estate fundamentals or a team of real estate and construction professionals that you trust implicitly. But whether you’re an experienced house flipper or this is your first property restoration, there are plenty of tips that can help you get the most out of your budget, says Paul Chad Comingore.
While it’s always nice to add square footage to the property, it’s much more important (and less expensive!) to make the most of what you already have, says Paul Chad Comingore. For instance, if you can reorganize or remodel your kitchen to make the space more attractive and easier to use, that’s likely going to be much cheaper than blowing out a wall for expansion or starting from scratch.
When you expand square footage, you have to worry about styles matching, foundation being poured, and expanding the roof as well. When you remodel what you already have, those extra costs are immediately cut.
It could easily cost between $50,000 and $100,000 to add just 250 square feet of space to your kitchen. In comparison, replacing the cabinetry to make the most of the space is about $15,000 to $35,000. Take those savings and put them into other areas of the home that need attention!
Everyone loves natural lighting, … Read More