HGTV; realtor.com
Tarek El Moussa has certainly been involved with some risky flips on Season 1 of “Flipping 101 With Tarek El Moussa,” but one high-budget home tops them all.
On the latest episode, “Dancing With Disaster,” El Moussa teams up with Patricia and Legacy, professional dancers turned house flippers who’ve bought a multimillion-dollar home in Brentwood, CA, hoping to get a big return. But in order to sell this pricey house, they’ll have to give it a luxe style to impress buyers.
Read on to find out El Moussa’s advice on making a house feel luxurious, only without the high-end price tag. Who knows, some of these tips might be worth trying on your own digs!
Don’t go overboard with a busy design
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Legacy and Patricia’s biggest flipping faux pas comes in the form of Patricia’s kitchen design.
While El Moussa tries to persuade her to go with a modern look, she decides to install gray and white counters with grainy red oak cabinets. El Moussa warns that this particular combination will definitely be too busy. Plus, he says, the oak cabinet style won’t be popular with buyers.
“People are ripping oak cabinets out of their houses,” he says, “not putting oak in.”
When the cabinets and counters are finally installed, El Moussa is proved right. Not only do the cabinets look dated, but the cabinets and counter don’t work well together.
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Still, Patricia and Legacy don’t have the time or money to replace anything, so as a compromise, they have the cabinets refaced and sand down the boxes to their natural state.
When everything is finished, the cabinets look much improved, but the kitchen still isn’t perfect. At least Patricia and Legacy learn a valuable lesson about kitchen style.
A double fireplace can give a living space double the style
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While Legacy and Patricia may not have great judgment on kitchen design, they’re experts when it comes to styling a fireplace.
The fireplace in this home stands between two living spaces, so Patricia and Legacy decide to give each side a different look: a modern, glossy black on one side, and warmer, wood-look tile on the other.
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These two styles give each room a different, though equally stylish feel.
“That was a great idea,” El Moussa says of the double fireplace. “I’ve never done that myself, and a 100% I’m stealing it.”
Give a home an open entry
When El Moussa first steps into this home, he isn’t impressed by the entryway. There’s a large wall right inside the door that blocks the front door from the rest of the house.
El Moussa has the idea to take down the wall, which would welcome buyers into a wide-open living area with incredible sightlines all the way to the fireplace. Of course, Legacy and Patricia love the idea and, in the end, this open concept transforms the space.
Black tile helps make a shower extra stylish
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Legacy and Patricia impress El Moussa again with their vision for the master bathroom.
When El Moussa first sees the space, the bathroom is outdated with an awkward layout. By the time Patricia and Legacy are finished, the bathroom is stunning.
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With stylish black and white tiles and a walk-in shower, the bathroom makes the house feel luxurious.
A wallpaper accent wall can be a hit or miss
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These novice flippers know that the master bedroom has to impress buyers in order to sell the home. So, it’s unfortunate that the wallpaper they choose for an accent wall gets mixed reviews.
During the open house, two buyers disagree about the style, with one buyer saying she likes the look and the other saying he’s not sure.
The dark style certainly stands out, bringing a moody and glamorous feel to the room, but it isn’t for everyone, which can hurt if you’re trying to sell.
Was this ‘Flipping 101’ tutorial a success?
While this chic SoCal home may look beautiful after renovation, it takes Patricia and Legacy a lot of money to get there.
These flippers spend $2 million on the house itself and $430,000 on the rehab. With closing costs at $150,000 $69,000 spent on interest, they have to get $2,649,000 just to break even.
With comps hovering around that break-even price and a strange kitchen design that may scare buyers away, it seems like Patricia and Legacy may not make their money back.
However, soon after listing the house, these two get a full-price offer of $2,925,000, which means they’ll make a profit of $276,000. While this house was high-risk, it turns out it’s high-reward, making El Moussa proud of his new students.
The post Tarek El Moussa’s Best Tips on Making a House Look Luxe appeared first on Real Estate News & Insights | realtor.com®.
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