For any experienced real estate investor, the question of which rooms in an investment property are most important to focus on is an easy one. For those that are a bit new to real estate investing, however, the question may not get such a quick response.
To provide clarity on which rooms are absolutely vital to invest in when you’re engaging in your your next find, fix & flip, we’ll detail the whats and whys here for your convenience.
So, let’s start with the answer… the two most important rooms to focus on in any residential real estate investment are easily the kitchen and the the bathroom (or bathrooms). Most rooms in the average home are simply comprised of three or four walls of drywall, a door and a window or two. For bedrooms, throw in a closet & a light fixture and you’re pretty much all done. But the kitchen and bath consist of a bit more in terms of fixtures & functions and are the two rooms most likely to make or break a sale of the property that you’ve put all of your blood, sweat and tears into.
The kitchen. It is commonly referred to as the heart of a home. This is where the family that eventually calls your project “home” will spend a huge amount of their day – each and every day during their time in residence. That being said, this is also where any buyer is likely to take a good hard look as they walk through to consider your property as their forever home. The look and feel of the kitchen can be the one factor that sells your property or causes it to languish on the market – while you rack up considerable carrying costs. Cabinetry, counter tops, flooring and even your plumbing fixtures will be scrutinized by any potential buyer. Sure, they can replace these things after they’ve purchased the home if they don’t particularly care for them, but the average buyer is looking to move into something a bit more turn-key. Most folks don’t want to buy a home that creates an instant second job for them.
As for the appliances you place in the kitchen; you may not want to go over the top with the spending on these, because you may not recoup all of that cost. You’ll basically want to install appliances that are respected brands – but not the top (or bottom) rungs in their markets. Nice-looking mid-range appliances will usually be enough to serve their purpose – which is really just to provide a completed home for the buyer. if the buyer is looking for something a bit higher in quality, they’ll be able to take their time working up to those finer brands – because you’ve provided them with appliances that will fit the bill for at least the short-term.
The bathroom. A nice bathroom is the second highest ranking on the average home-buyer’s wish list. As with the kitchen, here fixtures definitely matter. For relatively little money, you can purchase toilet, sink and bath fixtures that take the look and feel of the bathroom to new levels. Adding in faucets, and shower plumbing that look like a million bucks can be done for very little money nowadays. The result – your property sells for more & it sells faster – when compared to a similar home that goes low-budget and shows that the seller only want