What the Flip? Portland Home Gets a Major Face-Lift and Gains $600K in Value

Flipping a house is a lot of work that can yield a big profit. But not every project is guaranteed to be lucrative. So what’s the key to successfully making over a fixer-upper and selling it for a gain? Our series “What the Flip?” presents before and after photos to identify the smart construction and design decisions that ultimately helped make the house desirable to buyers.

Known for friendly faces, eclectic locals, and beautiful scenery, Portland, OR, has been seen as a desirable place to put down roots for a while now. It was even rated the ninth best U.S. city to live in by U.S. News & World Report. All of those benefits, plus historically low real estate inventory, mean housing prices in Portland are high. But for flippers who can nab a fixer-upper with good bones, there’s plenty of potential for profit—as this example shows.

The flippers who took on this five-bedroom, five-bathroom house made a smart move by pouncing on the well-worn property for $875,000 when it was listed in June 2019. After a full-on renovation, they put the home up for sale, and in December 2020 it was sold for $1,475,000.

So how did they raise the home’s value by $600,000 in just a year and a half—and during a pandemic, no less? The booming market wasn’t the only thing that made this home sale such a success. The fresh renovations also had something to do with making this a must-have property.

Taking into account the home’s now-stylish interior design, we asked our team of experts to look at before and after photos and weigh in on the changes that made the biggest difference in this home. Here’s what they had to say.

Living room

Talk about major changes! Once full of dark, drab wallpaper and a dated, textured ceiling, the living room now has a brighter, cleaner look.

“The application of white paint on everything really works well in this room,” says designer, real estate agent, and house-flipping investor Laura Schlicht. “Two of this house’s biggest assets have been artfully played up: the architectural moldings and the fantastic view.”

“It was a great move to get rid of the extra door on the side of the fireplace,” adds real estate investor and agent Molly Gallagher, of Falk Ruvin Gallagher. “There are plenty of other ways in and out of the room, and it allowed them to widen the hearth and keep the green-tiled theme going.”

Kitchen

The old kitchen was spacious, but that’s about all it had going for it. Once the flippers worked their magic, they had a kitchen that would impress any prospective buyer.

“Removing a section of the wall between the dining room and kitchen brings much more light into the kitchen, bouncing off the bright white cabinets, rather than keeping the view for the dining room itself,” says Kate Ziegler, real estate investor and real estate agent.

She adds that her top question from buyers touring homes is whether or not they can remove a wall.

“Having done this update for the buyers broadens the audience for this home, and boosts sale price as a result,” says Ziegler.

Real estate investor and agent Tracie Setliff, also with Falk Ruvin Gallagher, was impressed with the island addition.

“The island placement is perfect—it seems like it was always there and makes up for some of the storage lost by opening up the wall,” she adds.

“We love that they nod to the original lights and time period of the home with the updated light fixtures they chose,” adds Gallagher. “And they smartly chose to appeal to a wide buyer pool by not adding in some specific tile that will be dated in five years.”

Home office

Before 2020, a home office was just a bonus, but now it’s essential—whether it’s for work or school, or both. Even though this renovation was started before the coronavirus pandemic, the flippers chose to upgrade this home office in a major way, which really paid off by the time they listed the home.

“I love that they removed the old attached bookshelf,” says Setliff. “The room has an airier feel to it without the hulk of the built-in shelving. There are so many cute bookshelves that are much sleeker.”

Schlicht agreed, explaining that the built-in bookcase, while often a bonus, was actually the wrong size for the space and made the room feel crowded.

“Let’s take a moment to notice the windows,” says Ziegler. “New windows are a significant cost that most new buyers don’t want to take on in the near term—but the payback in efficiency can be remarkable. Replacing windows as part of a flip makes the whole space look more contemporary and polished, but also adds real value to the home that buyers can quantify.”

Dining room

At first glance, it may seem like the only real change in the dining room was a new coat of white paint, but Ziegler says that’s not the case. In fact, she was rather impressed with the flippers’ efforts in this room.

“The dining room demonstrates places where the investors behind this work took the time to restore and retain older details: keeping the built-in sideboard, and even the mirror detail below the smaller window shows a thoughtful approach and is indicative of more time-intensive work,” Ziegler says.

“Restoring details rather than replacing with cheaper, contemporary alternatives requires patience and care, and that attention to detail is something buyers notice even if they don’t have the vocabulary to describe it,” she adds. “The updated chandelier is trendy but also a nod to midcentury modern styling that is appropriate for a house of this age.”

Setliff is happy to see the “boring” light fixture go, in favor of the new “sophisticated, sculpturelike light.”

“Buyers do not want to have to change fixtures, as simple as it seems, and keeping it fun yet unfussy was the way to go,” she says. “It is interesting how you notice the views from the windows now that your eye isn’t drawn to the dark brown of the built-in cabinets and window trim.”

Den

This old den went from afterthought to amazing after this flip, and our experts are impressed with the results.

“Goodbye, ’60s; hello, now!” says Gallagher. “Knotty pine is best reserved for Wisconsin supper clubs these days, and today’s buyers are not interested in having a supper club theme for their den.”

“Removing drop ceilings and wood paneling is an easy, instant update, but the nicer detail here is the addition of recessed lighting,” says Ziegler. “Recessed lighting in a basement space creates the illusion of more headroom, making for a much more comfortable den. Updating the basement den adds valuable square footage that buyers might have otherwise written off as just basement space.”

And we can’t forget about the star of this room: the fireplace.

“Replacing the dated brick with a pop of green tile and the white surround and mantel transform this new den,” says Setliff.

Source: realtor.com

What the Flip? This Refurbished Asheville, NC, Home Made a 6-Figure Profit

Flipping a house is a lot of work, and can yield a big profit. But not every project is guaranteed to be lucrative. So what’s the key to successfully making over a fixer-upper and selling it for a gain? Our new series, “What the Flip?” presents before and after photos to identify the smart construction and design decisions that ultimately helped to make a house desirable to buyers.

For years, the city of Asheville, NC, has been a popular place to live. It’s earned a reputation both as a cultural hub and as an outdoor lover’s dream, with easy access to Great Smoky Mountains National Park and the Appalachian Trail.

Those facts—coupled with the notion that the COVID-19 pandemic has prompted people to re-evaluate where they really want to live—made Asheville and the surrounding area especially hot in 2020.

“The market in Asheville has significantly increased over the last year. We are experiencing record demand from buyers who are coming from major metro areas,” says the real estate agent Mike Figura, broker and owner of Mosaic Community Lifestyle Realty in Asheville.

“At the same time, fewer people are listing their homes, causing low supply, tight inventory, rising prices, and frequent bidding wars.”

Any seasoned house flipper can see the opportunity in a city like Asheville, especially if it’s a seller’s market. That’s why we were excited to find this fixer-upper turned polished property in the heart of the West Asheville neighborhood.

The six-bedroom, four-bathroom home was purchased for $276,000 in January 2020. After a top-to-bottom renovation, it was listed just six months later for $500,000. It sold in a little less than a month, for $525,000.

Of course, it wasn’t just the hot market that brought such an amazing profit, although the flip was pretty impressive, so we’re guessing that did help a lot, too.

We went straight to our experts to find out which changes are likely to have lured in buyers, and to discover how you can make that happen with your home, too.

Front porch

The old front porch lacked curb appeal. All the windows and doors made it difficult to determine where you were supposed to enter the house. That’s not the kind of impression you want to make on potential buyers.

“By removing the existing doors and creating a new front door, the entry feels like it has a sense of arrival now,” explains Adrienne Valenza, an interior designer at Adrienne Valenza Design. “Replacing the windows with new, Craftsman-style windows also added to the charm.”

The dirty and dingy feel of the old porch was also a big negative. Thankfully, the flippers didn’t stop at changing out doors and windows; they also went to work with scrub brushes and buckets of paint.

“By cleaning up, and painting light, beachy colors on this porch renovation, it helps create a welcoming feeling, while adding tremendous curb appeal,” says Mike Syms, of Full Scale Renovations.

Living room

Talk about fresh and clean! This living room got a major glow-up, and our experts are feeling it.

“By removing the carpet and refinishing the wood floors, it gives the room much more of a sophisticated look, which is further echoed in the color palette,” says Valenza.

It also doesn’t hurt that the furniture, fixtures, and fireplace are no longer reminiscent of something you’d find at grandma’s house. Modern buyers want a modern home, and the outdated look of this living room gave buyers the impression that they were looking at a major project.

In the end, the most subtle new feature of this living room is the ceiling.

“The addition of the ceiling bulkheads on this living room remodel adds a lot of interest and provides a feeling reminiscent of a modern hotel,” says Syms. “This detail will make potential buyers remember this house as something unique and different from all the others on the market.”

Kitchen

The previous kitchen in this house was outdated, with a layout that just didn’t work. Its foldable table just screamed that the room didn’t have enough workable space. But the renovated kitchen is now a place for cooking, entertaining, and feeling at home.

“Changing the layout of this kitchen and opening it up to the living room was a fantastic use of the space. It’s so much more functional and open now,” says Valenza. “Continuing the color palette from the new living room was also a smart decision; it makes everything feel more spacious.”

And at a time when people are taking up home cooking instead of dining out, spacious kitchens are definitely a selling point.

“This kitchen remodel will add a ton of resale value to this home,” says Syms, “by getting rid of the textured ceiling and outdated yellow paint and adding the large island with quartz countertops. The new finishes provide a clean and contemporary look that homeowners love.”

Other touches to the kitchen, like the “dramatic, scalloped backsplash tile and the free-floating range hood,” add a touch of class, Syms says. All that goes a long way toward helping the home to stand out in the minds of potential buyers.

Bathroom

The bathroom in this home is small, which is a tough sell, now that buyers are looking for bathrooms that look more like spas.

While the flippers didn’t have the space to make the bathroom larger, they did know how to make the most of what they were working with.

“They did a great job with the new layout. It’s a functional bathroom that feels much larger than it did before,” says Valenza.

The new vanity gives the bathroom “much-needed additional storage space,” Syms points out. No one wants a bathroom that can’t hold their essentials.

“The details are simple without being boring,” says Valenza. “Using the monochromatic patterned floor tile as a border in the shower is a great way to add visual interest without overwhelming the space.”

“It adds a high-end custom look that potential buyers would love,” says Syms of the patterned tile in the shower. And that’s the goal when flipping a house, right?

Source: realtor.com

What the Flip? A 1909 Family Home Is Fully Restored and Grabs Top Dollar

Flipping a house is a lot of work, and can yield a big profit. But not every project is guaranteed to be lucrative. So what’s the key to successfully making over a fixer-upper and selling it for a gain? Our new series “What the Flip?” presents before and after photos to identify the smart construction and design decisions that ultimately helped make a house desirable to buyers.

Oklahoma City is an alluring place for home buyers these days. Its cost of living is low, there are plenty of opportunities for work and play, and you get the pace of city life with the quiet of the country nearby.

With a median listing price of $225,000, Oklahoma City is certainly a place to score a sizable single-family home for a reasonable chunk of cash, but finding an age-old property with good bones is a challenge. So when our flippers stumbled upon this four-bedroom, three-bathroom home from the early 1900s—in one of the city’s most prestigious and historic neighborhoods—they jumped.

Sure, the home wasn’t exactly in great shape, but that’s where the flip comes in. This old home went from drab and dusty to absolutely fabulous. It was purchased in July 2018 for $325,000, and in September 2019 it was sold again, for $642,000. The sellers doubled their money in just over a year—a result that any flipper could hope for.

So what made this such a successful flip? We turned to our experts to uncover the winning design and home improvement moves.

Living room

The living room is often the first space buyers see when they enter the home, so bringing this room up to date was key. The original room felt dark, dirty, and cramped, so the sellers had a big project on their hands.

“Lighting is key to this room,” says Malissa Kelsch, real estate adviser with Red Rock Real Estate. “Removal of window coverings and additional can lights deliver a distinctive sensation of relaxation.”

“They resurfaced the walls, which was a great choice to make the walls feel like new construction,” adds architect and interior designer Alondra Alberti. “The light paint and blond floor stain showcase how large the space actually is.”

But one of the most impactful changes was simply the removal of the accordion doors leading to the kitchen.

“The living room seamlessly flows into the kitchen to make it a perfect home for entertaining,” adds real estate agent Sarah Bernard. “This is the open, bright look that buyers today are demanding in new construction, so to renovate with this in mind makes lots of sense.”

Office

Previously, the home office looks like a strange afterthought. The flip transformed it into a gorgeous, usable room.

“Home offices are one of the most sought-after spaces in our current climate of working and teaching kids remotely,” says Bernard. “The new floor, lighting, and open, sleek modern space with windows make this a strong selling point for busy buyers.”

“The hardwood floors throughout facilitate the visual flow between spaces, creating a more harmonious relationship between the office and the rest of the house,” says Alberti. “I also love the contrast of the black-matte stair raisers and wooden handrails. It provides a sophisticated rustic appeal that a lot of buyers look for in a home.”

Kitchen

“It looked like a sad little kitchen crying in the corner,” Alberti says of the pre-renovation space. But the flip made a huge difference in this all-important room.

“They have repositioned and expanded the kitchen, creating an open concept tied in by a beautiful, massive island that not only provides contrast but also bar seating,” Alberti explains. “They did a great job combining different materials and textures. … It’s a design risk that elevates the home.”

Kelsch says the new kitchen is definitely more appealing to potential buyers.

“Additional usable counter space, storage, and lighting make this a desirable kitchen and a ‘wow’ feature in the home,” she says.

Bathroom

The old bathroom in this home was like a walk back in time, but not in a good way.

“The wallpaper and the top-and-bottom built-in cabinets made the space feel enclosed and restricted,” says Alberti. “The old shower doors are always a must-go—they have had their run for far too long.”

The updated bathroom now feels warm and welcoming.

“The shower wall niche was a particularly nice touch because it provides practicality to the user,” adds Alberti. “Those kinds of details are never overlooked by buyers.”

Bernard agrees: “The new, beautiful bath lets in natural light for the tranquility that homeowners want in their bathrooms,” she says. “The updated shower and more functional and modern vanity feel clean and fresh compared to the original.”

Bedroom

From the gray wall-to-wall carpet to the heavy drapes, can we all just agree that the old bedroom was the stuff of nightmares?

“The new bedroom sheds pounds of darkness that were exhibited in the old carpeting and bulky cabinets,” says Bernard. “The white walls and wonderful new windows are inviting in a room that anyone can envision themselves waking up in. This is a luxury look that buyers in all price ranges desire.”

“This bedroom has had a complete turnaround. The new vaulted ceiling helps make the room feel more spacious, and removing the cabinetry opens up the room,” says Kelsch. “Bringing in as much natural light as possible by taking down dated old drapes and updating furnishings and fixtures will bring top dollar to this house.”

Source: realtor.com