5 Flooring Tips for Investment Properties
Flipping investment properties can be a great way to make money. Each property that you flip will probably need different types of work, but one type of improvement that you might have to make pretty often is replacing the flooring. In fact, you might have to replace flooring in just about every investment property that you flip. Because of this, it’s important to learn a little more about doing it the smart way. These are just a few helpful flooring tips that can help you with your investment properties.
1. Consider Potential Value
Before you choose the best flooring for each of your investment properties, you should consider the potential value of the property. For lower-end properties that aren’t going to sell for very much even after they are fixed up, you will probably want to look into cheap flooring options. If the home has the potential to appraise at a higher price, on the other hand, you may want to spend a little more on a more expensive flooring, such as hardwood flooring.
2. Check Out the Local Market
Another thing that you might want to do before choosing the best flooring for your investment properties is to check out the local market. There are various laminate flooring choices that are popular in different markets, but hardwood flooring and other flooring types are more popular in some areas. Checking out the type of flooring and the finishes that are popular in your area can help you with choosing flooring that is right for your investment property.
3. Look for Affordable Flooring Options
When possible, you may want to look into cheap flooring options for your investment properties. Even if you’re going with higher-end flooring in the property, you will want to look for the best pricing that you can find. This can help you increase profits on your investment property.
4. Make Sure the Subflooring is in Good Shape
No matter which of the laminate floor choices or other floor choices that you choose, you should make sure that the subflooring is in good condition. Some people make the mistake of trying to cut corners by installing flooring on top of subflooring that might not be in the best condition. This may show up in a home inspection and can cause big problems for the person who ends up moving into the home, though. Therefore, even after you have looked into the laminate flooring pros and cons and have chosen the flooring option that you want to go with, you should make sure that you repair the subflooring if it needs it first.
5. Install it Last
After looking into laminate flooring choices and other flooring options and making your decision, you might be excited about installing the flooring in your investment property as soon as you can. However, you might want to wait and install the flooring last. After all, you might have a lot of other work that needs to be done throughout the property, such as painting. If you install the flooring first, then it could be damaged when other improvements are made. If you install it last, though, you can help protect it.
The tips above are a few flooring tips that you can keep in mind when installing flooring in your investment properties. Then, you can help ensure that you make the right decisions when installing flooring in the properties that you are in the middle of flipping.