How to Get Profit-Driven Real Estate Design for Your Next Flip
You might think a great floor plan, location, or square-footage will sell a property, but trust me, important as that might be, great real estate design is what sells homes. Buyers care what the home looks like, and if it doesn’t meet their criteria, they won’t be headed to the closing table any time soon.
I know because we’ve encountered many situations where homes with great bones and floor plans sat on the market indefinitely until we came in and helped with some much-needed improvements. Design MATTERS.
Here’s what great design can do to sell your property:
- Reflects the home’s price point but still looks comfortable and livable
- Matches what targeted buyer demographics are looking to buy in the area
- Plays up the best features of the home (and play down any negative elements the space might have )
- Makes a killer first impression that wins buyers over from the start
If you don’t believe me, here’s the proof!
Who should you hire to get a professional real estate design for your flip or reno?
If you’re serious about your ROI, you’ll want to hire a professional in the field. Your first instinct might be to hire an interior designer, but I would caution you against it. Interior designers, while extremely talented, are experts at creating spaces that are highly personal and specific to the people already living in the home.
Designing a flip or renovation to sell requires a very different approach.
Instead of asking the homeowners how they use the space and want to live in it, we have to consider the design from a profit-driven perspective:
- Who is the target buyer for this property? Are they career professionals or entrepreneurs? Do they work from home or do they go to their office every day? Is the house located in a great school district and ideal for families with kids? Is the neighborhood seeing high interest from young business professionals? Etc.
- What are the selling features of the home, the ones that will make buyers say, “Wow, I can’t wait to live here.”
- What is the price point of the home? We don’t want the design to price the home out of the market but we also don’t want the design to make it look cheap. We Goldilocks-it to make it juuuuust right.
- What is your investment budget? The amount that you can invest in the home will, of course, dictate what can and can’t be done. This is another piece of the puzzle that must be taken into account from the start!
Once these questions have been answered, a real estate design and staging professional will create the right aesthetic AND prioritize your bottom line.
It’s design, but it’s also expert business strategy. Your pocket book and future will thank you!
How do you ensure you have a real estate design that addresses these selling priorities?
If you work with a design and real estate staging professional, they should take you through three steps: a consultation, a design plan, and the final staging to bring everything together.
The renovation and design consultation is a strategy session. It’s the first step to a successful project and is not to be taken lightly! During this on-site meeting, we’ll…
- Discuss and determine the target buyers in your property’s market and the home’s marketability
- Determine a solid, prioritized renovations plan
- Outline the WHAT and the WHY of all the updates or added/removed features we’re confident will contribute to your best sale price
During this phase we get into all the design-related specifics, or the HOW of our renovations plan. We’ll make all the selections for any new or updated features such as paint, flooring, counter tops, tile, back splash, lighting, hardware, plumbing, etc.
We will present you with all the specifics of the renovations design plan at which time, we can either source all the material selections for you, or you can do so in collaboration with your GC. During the renovation process we can also make ourselves available to your crew for any installation and design specific inquiries.
Extra step: If desired, our trusted team of subcontractors can carry out the agreed-upon updates and renovations with speed and professionalism. Relax and enjoy letting experts take the wheel!
3. Home Staging
The design of the home doesn’t stop with hardware, flooring, and countertops — what’s inside your home matters too. To complete the transformation, you will definitely want to stage the home. (Whether you choose us or not, we still suggest it! It is SO worth it.)
With us, while the minor improvements and renovations are underway, we’ll present you with a vacant home staging proposal that highlights the home’s selling features and is worthy of its listing price.
Once the renovations have been finalized, we will begin staging your investment property. This is the moment when the magic happens… the home is transformed and ready to steal the hearts of potential buyers!
For the best results, we recommend bringing in a design professional from the very beginning, before any updates are made, and taking your project step by step. (This is our Complete Concierge service for investors or homeowners.)
But if you’re looking for design help somewhere in the middle of your project, you can still find any of these as a stand-alone service and see drastic impact.
Next month, I’ll be back here to share a bit more about what really goes on at a home staging consultation. Spoiler… more than you think!
Until then, sign up HERE to grab our free download, How to Prepare for a Remodel!