Flipping a house is a lot of work, and can yield a big profit. But not every project is guaranteed to be lucrative. So what's the key to successfully making over a fixer-upper and selling it for a gain? Our new series "What the Flip?" presents before and after photos to identify the smart construction and design decisions that ultimately helped make a house desirable to buyers.
Oklahoma City is an alluring place for home buyers these days. Its cost of living is low, there are plenty of opportunities for work and play, and you get the pace of city life with the quiet of the country nearby.
With a median listing price of $225,000, Oklahoma City is certainly a place to score a sizable single-family home for a reasonable chunk of cash, but finding an age-old property with good bones is a challenge. So when our flippers stumbled upon this four-bedroom, three-bathroom home from the early 1900s—in one of the city's most prestigious and historic neighborhoods—they jumped.
Sure, the home wasn't exactly in great shape, but that's where the flip comes in. This old home went from drab and dusty to absolutely fabulous. It was purchased in July 2018 for $325,000, and in September 2019 it was sold again, for $642,000. The sellers doubled their money in just over a year—a result that any flipper could hope for.
So what made this such a successful flip? We turned to our experts to uncover the winning design and home improvement moves.
The living room is often the first space buyers see when they enter the home, so bringing this room up to date was key. The original room felt dark, dirty, and cramped, so the sellers had a big project on their hands.
"Lighting is key to this room," says Malissa Kelsch, real estate adviser with Red Rock Real Estate. "Removal of window coverings and additional can lights deliver a distinctive sensation of relaxation."
"They resurfaced the walls, which was a great choice to make the walls feel like new construction," adds architect and interior designer Alondra Alberti. "The light paint and blond floor stain showcase how large the space actually is."
But one of the most impactful changes was simply the removal of the accordion doors leading to the kitchen.
"The living room seamlessly flows into the kitchen to make it a perfect home for entertaining," adds real estate agent Sarah Bernard. "This is the open, bright look that buyers today are demanding in new construction, so to renovate with this in mind makes lots of sense."
Previously, the home office looks like a strange afterthought. The flip transformed it into a gorgeous, usable room.
"Home offices are one of the most sought-after spaces in our current climate of working and teaching kids remotely," says Bernard. "The new floor, lighting, and open, sleek modern space with windows make this a strong selling point for busy buyers."
"The hardwood floors throughout facilitate the visual flow between spaces, creating a more harmonious relationship between the office and the rest of the house," says Alberti. "I also love the contrast of the black-matte stair raisers and wooden handrails. It provides a sophisticated rustic appeal that a lot of buyers look for in a home."
"It looked like a sad little kitchen crying in the corner," Alberti says of the pre-renovation space. But the flip made a huge difference in this all-important room.
"They have repositioned and expanded the kitchen, creating an open concept tied in by a beautiful, massive island that not only provides contrast but also bar seating," Alberti explains. "They did a great job combining different materials and textures. ... It's a design risk that elevates the home."
Kelsch says the new kitchen is definitely more appealing to potential buyers.
"Additional usable counter space, storage, and lighting make this a desirable kitchen and a 'wow' feature in the home," she says.
The old bathroom in this home was like a walk back in time, but not in a good way.
"The wallpaper and the top-and-bottom built-in cabinets made the space feel enclosed and restricted," says Alberti. "The old shower doors are always a must-go—they have had their run for far too long."
The updated bathroom now feels warm and welcoming.
"The shower wall niche was a particularly nice touch because it provides practicality to the user," adds Alberti. "Those kinds of details are never overlooked by buyers."
Bernard agrees: "The new, beautiful bath lets in natural light for the tranquility that homeowners want in their bathrooms," she says. "The updated shower and more functional and modern vanity feel clean and fresh compared to the original."
From the gray wall-to-wall carpet to the heavy drapes, can we all just agree that the old bedroom was the stuff of nightmares?
"The new bedroom sheds pounds of darkness that were exhibited in the old carpeting and bulky cabinets," says Bernard. "The white walls and wonderful new windows are inviting in a room that anyone can envision themselves waking up in. This is a luxury look that buyers in all price ranges desire."
"This bedroom has had a complete turnaround. The new vaulted ceiling helps make the room feel more spacious, and removing the cabinetry opens up the room," says Kelsch. "Bringing in as much natural light as possible by taking down dated old drapes and updating furnishings and fixtures will bring top dollar to this house."