In this hot Toronto Real Estate Market more and more people are buying and flipping homes. It seems easy enough, right?
You’ve seen plenty of design shows and you get the gist of it. However, if all you’ve got is the gist and don’t have the experience, it can quickly become an overwhelming and daunting task. As you get started, you’ll want to set a selling price by doing thorough market research – this happens before you think of any renovations. Crunch the numbers and then allocate a budget that defines your desired profit.
1. Planning is the Key
Planning it right is the key to a successful project. Renovation projects are inherently unpredictable and unless you know what to expect, your timeline and budget will be greatly affected. Designers who are experienced with renovations will not only know what to plan for but they will likely have appropriate contingencies already in place for those seemingly unpredictable moments.
Your renovation should always be a good value for money, you don’t want to spend too much on things that will go unnoticed, but also know where to splurge to enhance selling features.
2. Quality over Quantity
Okay, let’s say you do have the time and energy for the logistics of project management, and you don’t mind having moving timelines and budgets.
Hiring a designer can still be beneficial for you. They will work with you to make sure they understand what’s important to you, the timeline, the budget and the quality of finishes. In addition, they will also help in taking your personality out of the design. Just because you like something doesn’t mean everyone else will. And as designers we tend to have such a vast variety of clients, we have an accurate understanding of what is desired on a more general basis. When potential buyers enter your home, it should instantly feel like their home. You want them imagining themselves living there.
3. Optimal use of Space
Now, you are to redesign the space to add functionality for said market – and if you don’t fit into the target market yourself, or if this house is not in an area you are familiar with, it’s likely you won’t know the nuances of what their lifestyle entails and what they will truly appreciate in a new
home. Because designers are experienced with clients from all walks of life, and have worked in many different neighbourhoods, we are prepared with this knowledge.
4. Know your Buyers
Know your potential buyers – no, not just identify who they are. Know them – as in truly understand their lifestyle, their wants as well as their needs, and their aesthetic preferences.
As these potential buyers walk around your house, you want to tug on their heartstrings in just the right way.
To create a lasting impression for that specific demographic, Designers know how to make your house stand out of the crowd. By carefully selecting finishes and colours, and by adding ‘wow’ features. We utilize the elements that you would be upgrading anyway, but we do it to make your place appear even grander than it is.
At H5 Interiors, our main focus is on renovation and decor projects. However, we also have a ton of experience with home staging – and our success in home staging proves we understand different markets to know the perfect way to grab their attention.
This makes us an ideal candidate for being your teammate in flipping your property. To learn more about our experience and insight, feel free to drop us a line here, we can answer any questions you may have about the process.