Foreclosure Investing: Refurbishing For Profit Inside

If you have bought a home, to resell for profit, you need to know where best to put your money. You want to put as little money in as possible to gain the maximum amount of return. Generally, you don’t need to ad on rooms and spend thousands on solid gold features. These may look nice and sound practical, but you are unlikely to recover your entire investment. To do a quick refurb you need to concentrate on the key rooms that sell a house. You want to give the home a fresh new look and sell it on for profit.

The first thing you should know is the rooms that typically sell homes. Those are kitchens, bathrooms and living rooms. The majority of your investment should be to getting these rooms looking good. A great place to start is repainting the walls. A bright neutral color usually works best. These make the rooms look new and bright as well as larger. A fresh coat of paint literally breathes new life into a home.

Once the painting is done, have a look at the floors. In older homes, you may have wood floor boards. If this is the case, you may want to sand and varnish them. This is quite cheap to do and looks beautiful when finished. If you don’t have wood floor boards than consider changing the carpets. Again, go with soft neutral tones and try to make as many rooms match as possible.

Something else you may want to consider changing are the outlets and door knobs. You don’t have to spend a fortune. In fact for as little as 200 dollars you could likely do the entire house. Make sure they all match and look shiny and new. This will help your house maintain that shiny new look that you are hoping to achieve.

When it comes to the kitchen, it is a judgment call. If the existing kitchen is in good condition then you may be able to get away with giving it a good clean. Giving the cabinets a fresh coat of paint and replacing the hinges can help give the kitchen a new look. It can also amount to a huge amount of savings. If the kitchen is old and outdated, you may want to have it replaced.

If your home is structurally sound, you should not have to spend a fortune fixing it up. Many times just a new fresh look is all that it needs. Giving a home a good clean and a fresh coat of paint can possibly amount to several thousand dollars profit when you go to sell.