In this country the act “fix it then flip it” real estate has been refined to a fine art form. More and more people are making their fortunes in the real estate market. Its a simple truth that it can be done by anyone. It takes a great plan and some money to invest, but if done right the rewards can be astounding. No other area of investment has consistently shown such a high profit margin and such a pattern of growth.
What It Takes
So what does it take to successfully fix & flip a home? This depends on you. Are you a bit of a handyman? Or could you cut off your own finger with a spoon? If you are the latter, you may want to engage the services of a contractor. It will likely save money, time and band-aids. Whether you choose to DIY or to hire someone to do the fixing aspect, there are a few things they almost all fixer-uppers will need.
Paint is the most likely of these suspects. Most older homes have a somewhat neglected cosmetic makeup. A new coat of paint both inside and out can take years off a homes appearance. That one simple act will add nicely to its value. One place that usually needs a bit of love is the kitchen. As the highest traffic area in any home, kitchens can deteriorate faster than any other room. If you are looking for a quick way to increase you asking price, install all new appliances and redo the countertops and cupboards. A modern and inviting kitchen is a great selling point.
If you have purchased a home as a “fixer-upper”, chances are there are some aesthetic improvements that are going to be essential in terms of the property itself. To take care of the yard. Bring in a landscaper to create a new and dynamic flow for the property. New plants and flowers add a beautiful touch to a yard. They can be one of the most inviting aspects of a home. The exterior of the home is critical as the “visual impact”. It can make or break a sale. Just remember, the new asking price must justify the improvements that you have made. So never forget to plan your improvements carefully.