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What Rooms to Focus on When Flipping an Albuquerque House for Cheap

by Sandi Pressley

When embarking on the adventure of flipping a house in Albuquerque, it's not just about making quick fixes but rather creating a space that feels like a home. This endeavor requires a blend of strategic planning, market understanding, and a touch of creativity. Here's a guide on which rooms to focus on and why they matter.

The Kitchen: Culinary Transformations

The kitchen is where families gather, meals are prepared, and memories are made. It's a focal point that can sway buyers' decisions. To enhance this space without a hefty price tag, consider refinishing existing cabinetry or adding a stylish backsplash that complements the Southwestern vibe of Albuquerque. Upgrading appliances to energy-efficient models can also be a draw for eco-conscious buyers.

Bathrooms: A Spa-Like Retreat

Bathrooms should serve as a personal retreat. Think beyond the basics; small luxuries can make a big difference. Heated floors, water-efficient toilets, and sleek faucets can turn an ordinary bathroom into a spa-like oasis. Even replacing an outdated mirror with a framed one can add elegance to the space.

Curb Appeal: The Desert Oasis

Albuquerque's unique desert landscape offers an opportunity to create an oasis that captures the eye. Consider xeriscaping with native plants that require minimal water, adding a charming walkway, or installing outdoor lighting to enhance the home's architecture. A well-designed outdoor space can extend the living area and entice buyers looking for that indoor-outdoor lifestyle.

Living Areas: The Gathering Place

In the living areas, comfort meets style. A fresh coat of paint in a neutral palette can brighten up the space, while installing new flooring can modernize the look. Consider staging the area with furniture that showcases the room's potential, helping buyers envision themselves living there.

Bedrooms: Personal Sanctuaries

Bedrooms are personal sanctuaries, and each should reflect a sense of calm and relaxation. Upgrading closet systems to maximize storage, adding ceiling fans for comfort, and ensuring there is ample lighting can make these spaces more appealing.

Additional Spaces: Maximizing Potential

Don't overlook additional spaces like laundry rooms, garages, and basements. These areas can be functional showstoppers with the right touches. Adding built-in shelving, a workbench, or even a fresh coat of paint can transform these often-neglected areas into valuable assets.

Energy Efficiency: A Smart Investment

Albuquerque's hot summers and cool winters mean energy efficiency is a priority for homeowners. Investing in solar panels, smart thermostats, and high-efficiency HVAC systems can not only attract buyers but also provide long-term savings.

Final Touches: Attention to Detail

It's the little details that can make a house feel like a home. Crown molding, new door handles, updated light fixtures, and even the switch plates can add character and charm to a flipped house.

By focusing on these key areas and adding thoughtful touches, you can flip a house in Albuquerque that stands out from the rest, providing a welcoming and efficient home for the next owners. Remember, the goal is to create a space that resonates with buyers and makes them feel at home the moment they step through the door.

HOT ALBUQUERQUE LISTING OF THE WEEK

11916 Dahlia Avenue SE, Albuquerque, NM 87123

This Amazing Volterra Home has 1 year old Solar (to be paid off at closing with acceptable offer) July bill was only $1.24 This bright open floor plan offers 3 large Bdr's and office/study or hobby room. Grand ceilings in the great room with beautiful beams and a gas log fireplace. The kitchen features a large island with breakfast bar, elegant granite countertops, rich cabinets, SS appliances and a walk in pantry. The primary suite is very spacious and offers a luxurious remodeled bath with a huge shower and large walk in closet. Beautiful upgraded custom lighting/ceiling fans throughout. In the very private backyard, enjoy the outdoors, large covered patio, gardening and lots of sunshine. Seller raised the wall for extra privacy. Backs to open Natural Arroyo.

LEARN MORE!

Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

Get your Morning Inspiration with the Sandi Pressley Team!

Mistakes to Avoid When Flipping a Home in Albquerque

by Sandi Pressley

Is flipping homes in Albuquerque a good way to make money? Many people are looking for new ways to bring in an income, and flipping homes may sound like a smart business move. It can be, but only if you do it right. Flipping homes ends up being harder and more expensive than most people realize. And if you think it's a way to get rich quick, then now is a great time to drop that perception. Flipping homes should be treated like any small business, as it requires time, money, planning, patience, skill, and effort.

Here are some mistakes to avoid if you plan to flip a home for sale in Albuquerque:

Not Enough Money

It goes without saying that real estate is expensive. Plus, if you need to finance the home, then you'll being paying interest, which adds up over time.

Although the interest on borrowed money is still tax-deductible even after the passage of the Tax Cuts and Jobs Act, it is not a 100% deduction. Every dollar spent on interest adds to the amount you'll need to earn on the sale just to break even.

And if you use a mortgage or home equity line of credit (HELOC) to finance your flip-house purchase, only the interest is deductible. The principal, taxes and insurance portions of your payment are not.

You need to make sure you research your financing options to find a mortgage type that bests suits your needs. 

It's also not as easy to make a profit as it used to be. Profit margins have shrunk over the years. That doesn’t mean there isn’t money to made, but it does mean that you need to be more careful.

It also costs money to fix up a home. Keep in mind that the sale price needs to be more than the combined cost of buying the home, holding the home, and the cost of renovations.

Not Enough Time

Time is the other major investment to consider when flipping a home. It can take months to find the right property in Albuquerque. Then you have to take to to fix it up to sell. When you're done with the work, you then need to schedule inspections to make sure the property complies with applicable building codes before you can sell it. If it doesn't, you'll need to spend more time and money to bring it up to par.

If you work a regular job, then you'll have to spend your free time to do the renovation work. Even if you hire professional help, you still need to spend time to supervise the work. And of course, the money you spend on help will cut into your profit.

Then comes the selling process. We can help you sell your home quickly and for the best price. But that process still takes time, sometimes weeks or months.

Not Enough Skills

If you're a professional builder, carpenter, or plumber, then flipping a home will come much easier, as you already know how to fix up a home. You may also have a union job that provides an unemployment check, which will let you work on the home on the side.

The best way of making money when flipping a house is through good old-fashioned sweat and effort. If you're handy with a hammer, enjoy laying carpet, and can hang drywall, roof a house, and install a kitchen sink, you've got the skills to flip a house.

On the other hand, if you don’t know a Phillips-head screwdriver from a flat screwdriver, you will need to pay a professional to do the renovations and repairs. And that will reduce the odds of making a substantial profit on your investment.

In the end, flipping a home takes time, money, and patience. If you have all three of those things, then you can make a success out of flipping homes in Albuquerque.

Contact us today to help you buy or sell your next home in Albuquerque. Looking for the perfect home for sale in Albuquerque? Our easy-to-use home search tool can help you start the process. Join us twice a week on our blog for more real estate advice and great reasons to buy a home in Albuquerque and the surrounding area. Follow us on Facebook for the latest Albuquerque real estate updates.

HOT HOME LISTING OF THE WEEK!

1 TIERRA MONTE Street NE, Albuquerque, NM 87122  $$495,000

2 Bedrooms / 3 Bathrooms (2 full, 1 half) / 2655 Square Feet

Spectacular and Breathtaking Panoramic views from this gorgeous one owner custom home nestled in the foothills of the Sandias. Beautifully updated/remolded bathrooms and kitchen, including new appliances. Master bath is a true spa like retreat along with a huge walk in closet. What a great home for entertaining family and friends indoors and out. This is a true one of a kind home conveniently located near hiking, biking and waking trails. The unobstructed majestic views will take you breath away!

Contact the Sandi Pressley team for additional details! 

Get your Morning Inspiration with the Sandi Pressley Team

 

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Photo of The Sandi Pressley Team Real Estate
The Sandi Pressley Team
Coldwell Banker Legacy
10400 Academy Rd. NE Suite 100
Albuquerque NM 87111
505-980-2999
505-263-2173 / 505 293-3700
Fax: 505-212-0729

Quick links to this site are also SandiSells.net or SandiSellsHomes.com