Rules of Renovation

If you’re about to put a house on the market and it has a small kitchen, you’re probably painfully aware that buyers often see small kitchens as negative. Kitchens are a central part of any home, and your prospects will want to envision it as such. If your kitchen is short on space, turn that potential negative into a selling point with these memorable, low-cost kitchen renovation ideas to make the most of your kitchen space. 1. Install a Folding Table  Large kitchens have a lot of surfaces, such as islands, for food preparation and dining. In a small kitchen, you can store an additional surface by fitting a folding table against one wall. The buyer can open it to create counter space or a dining table, then put it away when it’s not in use. 2. Use Empty Vertical Areas Pull more storage out of empty vertical spaces. You can put in shelves on empty walls and above the cabinets and sink. Also, screw useful hardware into the walls and under the cabinets, including drying ...

Most potential home buyers are impressed by hardwood floors. But is it worth it for you to buy and install a hardwood floor, or is laminate a better choice for your budget? Let’s quickly run through the pros and cons of natural hardwood flooring versus laminate wood flooring. The Standard: Hardwood Flooring The cost of installing a hardwood floor can be high. Each panel of flooring can also be expensive compared to laminate wood flooring, because it’s made from actual boards harvested from trees. Woods from other countries usually cost more than domestic varieties. However, an exotic wood can add a touch of luxury to the house and raise its value. When installing wood floors, choose the room they’ll be in carefully. In a high-traffic area, the wood can easily get scratched or worn, which will show up prominently on natural wood. Also, avoid installing wood floors in high-moisture areas. If you find an original hardwood floor under a carpet in an old house, you’re in ...

When you’re renovating a house flip, you might need to replace old windows—maybe because they’re worn out or you want to install energy efficient ones. Don’t throw your old windows out yet! You can transform them into unique accents that’ll give potential buyers something memorable to talk about. In fact, you might even want to find other old windows at a flea market or antique store. Below are three home accents you can make out of old windows for a very low price tag. A Message Board Turn an old paned window into a charming message board. If the glass panes are still in it, you can cover them with chalkboard paint. If the glass is gone or you want to take it out, you can put pieces of cork board or chalkboard where the panes used to be. You can even alternate between chalk and cork board panels. On the other hand, it can be simpler just to lay the frame over a ready-made chalkboard or cork message board. For an open house, stick brochures or information about t...

The bathroom is one of the most-used rooms in the house, yet it often gets neglected when it comes to home renovations. When regular homeowners start planning a bathroom renovation, it can take as long as six months until completion. They get estimates three months out, buy materials two months out, and so on. If you’re working on house flips all day, you might only take a day or two on each of the first three phases. At the same time, planning ahead is crucial, because it can take weeks for a shipment of materials to arrive and up to six weeks for the work crew to finish the labor. Take action now by following these four phases of bathroom renovation. Phase 1: Brainstorming and Designing  It can take a lot of brainstorming to think up a really strong bathroom design idea. Try picking your three favorite interior design magazines and searching through them for ideas. Tear out the most inspiring pages and write a sticky note on each one about why you love it. Next, pi...

Fixer-upper properties are never pretty, but they make for great house flips. But how do you know when the renovations or damage are too much? Hilary Farr has noticed that a common mistake house flippers make is investing in a property that is beyond salvage. Some problems are bigger than others, and if you take on a project that puts you in over your head, you risk any potential of making a profit. How can you tell if a house is damaged to the point you can’t make a profit? Rules of Renovation has 5 red flags to watch out for when investing in a potential flip. 1. Asbestos This deadly building material can cause a lot of health problems, including cancer. Luckily it was banned in 1989, but it is still found in some older homes. If your potential flip has asbestos present, all of it will need to be removed, and depending on the location and how much was used, the removal process can be costly. Find a good home inspector who can identify potential asbestos and show you how to test...

Success in real estate investment is about more than your personal charm and skill in selecting a great property. You have to establish yourself as a professional through marketing and a social media presence. One of the most important tools to reach new customers and expand your brand is a professionally designed website. A personal website for your real estate business will list your accomplishments, experience, and contact information. The internet is filled with free website design and hosting options—but unless you’ve got web design skills as hot as your real estate ones, Hilary Farr recommends strongly against making your own website. Here are 4 Rules of Renovation approved tips for choosing a web designer and setting up your online presence. 1. Don’t Build Your Own Website In the real estate investing business, there’s a lot you can DIY: painting, basic repairs and demolition, and installing appliances and shelving. While you may have picked up some great skills in reha...

New real estate investors have a lot of questions—and the biggest one is when is the best time to buy a property. With markets always changing, along with interest rates and housing prices, it’s not always clear when it’s the best time to get a good deal. Rules of Renovation gets asked about the timing of buying new properties. If you’ve found a good price on a specific property, the short answer to the question is “yes!” Don’t wait around for the perfect moment; when you’ve found something good get going. If you’re doubting the right timing for purchasing an investment property, keep the following tips in mind: 1. There’s no such thing as the perfect time Any real estate property purchase will always carry some risk, even in the best of times. The perfect, risk-free time to buy will never come along. So don’t sit around waiting for the market, interest rates, and a great price on the perfect property to magically align. If you’ve found a property with potential at a goo...