Get Fast Financing for Upgrades with a Washington Hard Money Loan
Renovations add value to real estate.
Kitchen and bathroom upgrades top the list of home improvements. Other popular upgrades include outdoor decks or patios and master suite additions.
Experienced real estate investors know the goal is to get back the largest return on investment when it comes to house flips and investment properties.
Making functional improvements to a space can be more cost-effective than going all out on a major cosmetic overhaul.
“Kitchens sell houses” is a familiar phrase. But ROI is another matter. According to Remodeling Magazine’s Cost Vs. Value averages, a midrange minor kitchen remodel in the Pacific Northwest costing $23, 587 recoups $22,181 at resale or 92.9% of cost. An upscale major kitchen renovation of $134,699 sees a return of $76,299 or just 56.4% at resale.
Kitchen and Bath Upgrades That Up Your Property Value
Properties in hot housing markets like Washington State warrant kitchen and bath renovations.
But keep in mind the return on the dollar amount you put into a renovation is dependent on the property value, the surrounding neighborhood, the local housing market, and the quality of the upgrade.
A few thoughtful updates, using quality product and good workmanship, can pay off. Basic kitchen and bath improvements to consider include:
- Fresh Paint
Before investing in any major remodel, start with a home inspection to uncover potential structural issues. Roofing, siding or foundation repairs may not provide the same gratification as interior upgrades. But if they’re in poor condition when it comes time to sell, a renovated bathroom or kitchen won’t guarantee buyers.
Get a Washington Hard Money Loan for Property Improvements
Property upgrades and maintenance are important to every real estate investor’s success. Having financing when you need it is also critical. We provide fast, easy equity loans to investors who want to improve their property for the greatest ROI. Talk to our experienced team of lenders to learn about our private money loan services. Gregory M. Russell has been making loans in Washington State for over 30 years. Call us at 1-888-477-0444 and start planning your improvement project today.