Real Estate Investor · Memphis, TN · Member since 2014 · 156 posts · 101 votes
We are getting close to the end of a reno and flip in the historical area of Memphis. We have an 8' x 12' closet in the master down and we have yet decided on the layout for that closet. This is a moderately high end house for Memphis (ARV approximately $500k) and as we all know, kitchens, bathrooms and master suites sell houses. We want to make this closet has a WOW factor without breaking the bank in the process. What have you done in your flips to give the most WOW for the money in closets?
We went through the same thought process recently on a house we're renovating. Eventually we decided to leave the his & hers closets a blank slate and place large posters of "California Closets"-style interiors inside of each. That's how we'll show the house and we're still deciding the cost side of it. Most likely we'll offer a $X credit for the closets for full-price offers.
We're reducing our speculating and giving the buyer an opportunity to get the WOW that they most want.
Is that the "her's" closet, or is it the only closet in the room. If it's the only closet, I wouldn't do much with it. If there are two closets, and one is clearly going to be catering to one member of the household, then I would consider dressing it up. Either way, I'd spend that money somewhere else in the house, such as staging. $3-4K in staging will go much further than custom closet, in my personal opinion.