Many people consider buying homes to renovate for a profit. This is where “flipping” homes have become more popular in recent years. Especially after the increase of renovation shows being aired on television networks. It makes people consider giving it a try themselves. However, like any investment, there can be drama if not done correctly. Which is why I thought I would share with you a quick guide to flipping houses. While not everything can be foreseen, if you do things right, you shouldn’t have too many issues. But could make a great profit doing it.
Demo the home quickly
Of course, this doesn’t mean tearing down the property. But demoing the house inside as quick as possible reveals your blank canvas to work with. So if the kitchen is poor quality, or there is any tiling cracked. Get rid of all the items you don’t want are going to replace. The quicker this gets done, the quicker you can get to work in piecing it back together. Time is money after all, and the last thing you want to do is sit on an investment like this.
Make sure the electrics are in good working order
One of the biggest problems in any home is the electrics. Which is why it should be a focus when it comes to a renovation project. Once you have got the house down to the bear shell, so you know what to work with, now you can get a professional in to check out all the wiring. You may want to add new outlets or wiring to the home. Doing it at this stage makes it much easier because any repair work or walls can be sorted during the decoration stage. Research residential electricians to seek someone in the locality. They can often offer a fast turnaround.
Workout your design as soon as possible
Now you have the basics sorted you can now work on your design. This might be a kitchen layout or bathroom set up. It might mean refurbishing old units or counter tops. Or ordering new things to foot with a different style. Working out the design sooner rather than later allows other contractors and yourself to get to work on the other jobs in the property.
Make sure the walls are in good condition
It’s essential for quick and easy decoration to make sure the walls you have to work with are in good condition. This may mean plastered to a smoother finish, in time for paintwork. Any cracks will need to be repaired, and any damage caused by electrical or pipework will need to be sorted.
Consider neutral decoration
If you are hoping to resell quickly, then the best idea would be to consider a neutral decoration. This is a colour pallet that would suit everyone. It’s best to keep to a neutral style as the property will then appeal to the masses.
Get a real estate agent you trust
Finally, selling quickly means you need a real estate agent you can trust. Someone who knows the market. Investments like this don’t make money if they are sat waiting for things to happen.
I hope this guide has given you an idea of what it takes to flip a house as quick and easy as possible.