Of course you have seen a lot of home renovation programs. Asking this question definitely gets you an already obvious answer. It would be surprising if you have not encountered this kind of show as there are already a lot of home remodelling programs in the television. They are very entertaining to watch. The big problem, however, is that you are not so sure to which side these supposedly DIY renovations cater to. They might say that they offer assistance to families who intend to create some changes in their homes. The problem, though, is that these designers assume that the families who watch their show all have unlimited bank account to spend on the renovations and that each family family that watches their program have their own trusted personal designer and a group of 20 people to help them out for free. This idea would have been perfect only if it is the usual case.
Something I’ve noticed is that when investors renovate property themselves, they self-design so that they don’t cut into their profit by spending money on a designer. Fair enough if the designer is going to chomp into your profit too much. However getting professional advice (or at the least following the pointers that follow!) will accelerate your chances of making a profit - just as using a real estate agent to sell your property will increase the probable sell price.
So, if you’re looking to renovate property for profit (to either A. pull equity out of, B. sell for a higher price or C. rent for a higher amount), follow these simple steps to get you started. Be sure to read about the design principles in the next issue and combine your new knowledge to start creating your own ‘designer renovations on a shoestring’.
Stay focus. It is not your place that you are renovating and you are not the one who is going to live there. Instead, picture out your prospect clients who would consider buying the house. Do not let those design magazines fool you, just use the image of your customers in mind. Most interior magazines go for the soft changes, those that simply include changing the artwork, some of the furniture, among others, instead of the hard changes, those that only needs to be fixed or improved, which are more practical and reasonable.
Tell a little white lie to the contractors or project manager about the expected completion date. Keep this to yourself and keep the pressure on as if this date were correct.
Visit the site briefly and frequently to resolve any issues and keep an eye on progress. Be as nice as pie to your contractors as they will be the ones to save you money if they LIKE you!
home renovation