Since we flip houses, we are always looking for ways to save money while also making a renovation look great which can sometimes be a challenge. I always try to follow a few sets of rules when working on a renovation project. See below for my list of tips!
#1. Keep vanity (or kitchen) cabinets when you can if it makes sense in the space.
Basically, paint goes a long way and does wonders in a space especially when updating the things around it. A fresh coat of paint combined with new floors and new countertops can completely transform a space while helping the budget at the same time. It is important that the cabinets are in good shape though. If drawers and doors function well and they were well made to begin with then they are probably worth keeping.
#2. Look for tile that is $5 a square foot or under as a rule.
This helps to give yourself a good guide when out searching for tile, as it is easy to gravitate to the more expensive marbles, for example that are out there. For the most part any higher priced tile you see will have a more affordable version or way to execute it. When planning for a smaller space with less square footage you can bend this rule and spend a little bit more if you want but this is an overall great guide. Examples of places that are smaller square footage are things like an accent wall behind a vanity or a shower floor.
#3. When redesigning a space pay attention to where current plumbing lines and electrical lines are as moving these can get expensive.
When laying out a bathroom or kitchen it is helpful to generally keep these lines where they currently are or within two feet max of their current location. This means that while you may think it’s best to move a shower to a different wall, you have to weigh the cost of moving the plumbing lines and if that really makes sense for the project. Usually there are ways to make an impactful design update within the current layout. Once again, tile and paint alone can completely transform a space.
#4. Flooring options have come a long way in the industry.
We typically use laminate or vinyl plank flooring as there are so many great options now that look like real hardwood. There used to be a big gap between the look of real hardwood vs. laminate but the quality and look have improved drastically. This is also a huge cost savings of up to 50% when comparing the two which makes a big difference in profit when flooring an entire house.
Hopefully you find these tips to be helpful when doing your next flip or renovation project! These are great rules to follow to keep you on budget and on your way to a successful design update in your space. Follow us at homebuyingguys.com for other tips and tricks!