Flipping homes has quickly become one of the best ways to make a money in Canada. Its almost impossible to turn on your TV without seeing four or five shows that are explicitly dedicated to this avenue of investment. In addition to that, the other hundred or so shows that are on daily that show you how to renovate your home, remove, clutter, clean up your yard, add a new bathroom, or have it all done for you by a huge blonde guy in overalls, have catapulted Canadians into a home reno/flipping craze.
So, saving the huge blonde guy a trip to your area, you are going to have to plan this reno/flip out yourself. Time to prioritize! This exercise is going to involve some ability on your part to stand back and remove any emotional attachment that you have to the house. If you were a buyer, what would stand out first? Typically in older homes, there are a few suspects that usually make the list. Out of date appliances, old fixtures, unkempt hedges, cluttered garages. If you have just bought the home then cleaning and renovating will be much easier however, make sure to get some furniture in there before you show the home.
Break the process up into three parts, interior, exterior and yard/garage. This will make it much easier to complete projects and help you to feel like the process is getting completed and not standing still. If you start with the interior renovations, then once those are finished you can work on the exterior while the inside is being painted and finished. The exterior will hopefully be a bit easier than the inside renovations. Unless you have decided to add on rooms. If not the exterior should be a simple case of cleaning, clearing and painting.
The yard and garage can be tackled. These are usually bigger jobs that they appear. So much stuff can come out of a garage that has gone unorganized for years. And you thought 8-tracks would make a comeback! While it can be a pricey upgrade, if the lawn is old and haggard, why not lay new grass? The visual value of a new lawn is extremely impressive. Combine that with new flowerbeds and maybe some mulch or a rock garden, and you just might have a show home on your hands. Time to play the garage trump card. Take care of the tired interior of the garage. Clean that sucker right out. Then, maybe install a garage organizing system. These are useful storage options that usually feature full wall panels with an endless number of configurations. These panels also make the garage look brand spanking new. All it takes is a good eye for what needs to be done, and a bit of time and money. That being said, the asking price will reflect the new improvements drastically.
Finally, put together your Real Estate Team. Starting with and experienced Agent that has personal experience flipping a home. You will need a great home inspector, and an Insurance agent with experience with flipping homes as most insurance companies do not like vacant homes.
If you require any assistance in the London Ontario area please feel free to contact me