High ROI Investments for a Flip

High ROI Investments for a Flip

High ROI Investments for a Flip

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Flipping houses is a great way to earn some extra money. Whether it’s a side-gig or your full-time job, flipping homes is one of the easiest ways to earn lump sums of money without having to work all that hard for it.

All you have to do is buy a home, invest in it to bring its value up, and sell it for more than you bought it for. Now, the investing part is where you can really maximize the value of a purchase with any number of home upgrades.

There’s an endless number of renovations and repairs you can make to a home, but not all of them provide the same return. So in case you want to know how to get the most of your property, let’s take a look at some of the best high ROI investments when you’re trying to make a flip.

 1. New Siding

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Installing new siding on a home is a surefire way to bring up its value and get a return on your investment. In fact, new siding is one of the higher ROI renovations you could make, with some types netting as much as an 80% return on your initial investment.

Stone veneer siding has actually been known to net homeowners a 97% ROI, but most types of siding fall between 60-80%. Both wood and aluminum house siding will provide a 77% ROI, but expensive wood like natural cedar will get you less. Engineered wood is likely to net you more than a 77% ROI.

 2. Garage Remodel

Remodeling your garage is another high ROI investment. Many garages are in need of repairs and general maintenance, so you can kill two birds with one stone by simply remodeling the whole thing.

A high-quality garage remodeling might involve adding more storage space, like overhead storage. Or, you can add a more organized station for performing various types of work. A bench, table, and neat storage for tools and items are all good ideas here.

Replacing your garage door is another smart move, especially if it’s showing signs of wear or isn’t hooked up to an electric garage door opener yet. You’ll also want to seal up your floor with a waterproof garage floor covering of some sort. This improves longevity and increases value.

 3. New Windows

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Windows get old fast and often need to be replaced for years before homeowners get around to it. Boost your home value and get a decent ROI by replacing your windows.

You don’t always need to replace them down to the studs though, as many windows just need new, tight-fitting window panes to seal air leaks. Insert replacement windows are the perfect product to get the job done here.

 4. A New Deck

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If you don’t already have a deck, adding one to your home is a guaranteed way to get a nice ROI when you flip the place. Materials matter here, as a composite deck will get you anywhere from a 60-70% ROI.

Some less expensive wood decks can get you over a 100% ROI, though, which makes a new wooden deck the perfect project for a quick flip. Just make sure you add some rdi railings to maximize safety and value.

These Investments Can Provide a Great ROI On Your Next Flip

With so many home improvement projects to choose from, it’s important to know which ones provide the best ROI if you’re looking to flip a home. From adding a new deck to replacing your windows, remodeling your garage, and adding new siding, any one of these projects is sure to get you a nice return on your investment.

 

Brian Jeffries is the content director for the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.

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