Even though there has been a downturn in the real estate market, many people are still purchasing investment property for flipping and reselling on the market. In most cases, these homes need renovation, repair and TLC. One of the renovation projects that most of these homes need is a good old fashioned Salt Lake City bathroom remodeling.
Creating a Budget
Long before you set hammer to nail, you need to sit down with a respectable contractor and create a budget for your renovation and repair project. How much have you already invested? How much can you invest in the renovation before the cost of the renovation becomes more than the profit you would make selling the home.
These are both very important questions to ask, and asking renovation professionals and consulting budgeting guides will certainly help.
Your Salt Lake City bathroom remodeling project needs to be within budget but also able to increase the value of the property. Can you get by with a simple repair job, or is full renovation necessary? At this point you might want to seek the services of a designer, or you can do all the design work yourself. Just remember to make sure your ideas will attract buyers. Do you want to retile the floor? Do you need to deal with cabinet re-facing? Can you afford custom countertops or will a factory install be good enough? What about custom fixtures? What theme will you use for the paint color and overall color scheme of the bathroom?
These are all questions you’ll need to consider when flipping investment property with a Salt Lake City bathroom remodeling.
Purchasing the Supplies
Your Salt Lake City bathroom remodeling project will start coming together once you purchase the supplies needed to get the job done. You can take a trip into Wasatch Valley to find the best deals in Utah or you can shop online.
Once you’ve created and set a budget, made a value increasing design and purchased the supplies, renovation can begin. A Salt Lake City bathroom remodeling project shouldn’t take longer than a month, and when it’s all done, you’ll have a bathroom worth every penny- and more once the property sells.
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