Home flipping is all about taking older, neglected properties and transforming them into something new. In order to do that, you can incorporate modern design trends that will breathe life into older homes and freshen up their look and feel. There are several ways to go about modernizing a property, but when it comes to flipping you’ll also want to prioritize updates that will add the most value. Aside from the obvious fixes like touching up paint, you can make use of some of the same design trends that get featured in newly built homes. If you want to maximize the return of your next home flip, here are 7 of the best home design trends to follow.
Trend #1: Open-Concept Living Spaces
One of the most popular design trends in modern home building is the idea of open-concept living spaces. This trend has caught on since it helps create a more spacious and luxurious feel in a home. For home flipping, you can remove unnecessary walls as a way to make a smaller home feel larger. And for properties with limited space, shifting to open concept design allows homeowners to maximize the functionality of the room available.
Trend #2: Smart Home Technology
Another growing trend in recent years is incorporating smart technology into the home. You may already be aware of doorbell cameras, but there is a wide variety of smart tech you can add to a home that will add convenience or even save money. For example, there are smart thermostats that learn the patterns of residents and automatically adjust temperatures for maximum efficiency. There are also smart security systems that feature both cameras and locks and smart home assistants like Amazon Alexa/Google Assistant that can be used to control all other devices. Adding some of these features to a home is an easy way to help modernize it and can be an additional selling point when it comes time to market the property.
Trend #3: Energy-Efficient Upgrades
A great way to upgrade your property and simultaneously increase its value is by adding in energy-efficient features. Energy-efficient lighting and appliances can be seen as an investment since they reduce monthly living costs, and their value gets reflected in the home’s price. These features can also become marketable points in your listing that attract the attention of buyers. For an older property, you may also want to replace older, less efficient windows and insulation with newer alternatives. This is typically done with aging homes that were built with lower-quality materials, but may not be necessary with a more recently built property.
Trend #4: Stylish and Functional Kitchens
The kitchen is arguably the most important room in the home to renovate. Kitchens tend to show their age sooner than other rooms, and you can be sure that residents will be spending lots of their time there. However, you can use this aspect to your advantage by treating the kitchen as the focal point of your design efforts, and where you set the tone for improvements that will be made to other rooms. In order to make a kitchen stand out, you should choose premium upgrades that add a sense of quality to the room. Some good examples include high-end countertops, smart appliances, and modern lighting fixtures.
Trend #5: Outdoor Living Spaces
Incorporating outdoor living spaces is another trend rising in popularity with newly built homes. This is a great way to add functional space to a property that also gives guests a place to enjoy the outdoors. The other great news is that they’re often easy and cheap additions to make when renovating a property. A well-designed patio or deck can add significant value to a home, and when complimented with good landscaping can become one of the property’s most beloved features.
Trend #6: Multi-Functional Spaces
With the significant rise in the number of people working from home, it may be beneficial to include flexible spaces that can be easily converted into a home office, or serve a variety of different purposes. For example, these areas may serve as a great reading nook, crafting station, or just extra storage space. You can highlight the potential of a space like this by staging it in your listing’s photos. By showcasing a multitude of options, you may appeal to a variety of buyer preferences.
Trend #7: Unique Architectural Features
The final trend we want to cover includes some of the more unique design elements you may be able to incorporate during renovations. Some great low-cost options include accent walls, crown moldings, and reclaimed wood or stone from the property’s original construction. If you truly want to make your property stand out, do this by adding memorable features such as statement ceilings, or floor to ceiling windows that really open up a room.
These trends reflect some of the most popular features present in new homes, but a home flip is also an investment, which means you need to compare the cost of these renovations to their potential value add. Be sure to budget carefully for renovations and choose only the ones that maximize your return on investment. After taking care of the essentials, you may be able to incorporate these trends to make your property stand out, increasing demand and ultimately leading to a higher final sale price.
The easiest way to save on your next investment is to obtain financing from a real estate lender that can get you the best leverages and rates. RCN Capital lends to real estate professionals, commercial contractors, developers & small business owners across the nation. We provide short-term fix & flip financing, long-term rental financing, and new construction financing for real estate investors. If you are looking to finance a home flip, RCN Capital has competitive loan options available. Connect with us today to discuss your next real estate investment.