Fixer upper properties are attracting a lot of attention at the minute. A lot of property developers have been investing in them for years. They buy a house or apartment that is quite rundown and needs a lot of maintenance, and then they fix it up so that it can be sold on for a higher price. It’s such an easy way to make some extra money and now more and more of the general public are cottoning on to why it’s such a great idea to invest in fixer uppers.
You shouldn’t think that investing in a fixer upper is a walk in the park, though. There is actually a lot of work that goes into finding, buying, and doing up this kind of property. Here are some tips that can help you out.
Good Location Equals Sellability
It is often said that location is key when it comes to property. And this is 100% true! If you buy a fixer upper in a bad location, you will find that it is very difficult to sell. No matter how beautiful you make it inside and out! So, you need to limit your property search to certain areas that you know are well sought after. It’s a good idea to walk around these neighborhoods to get a good feel for them. Are there lots of amenities within walking distance? Are all the other houses neat and well-kept? If so, you should have no issues selling your fixer upper!
Get An Easy First Fixer
If you are looking for your very first fixer upper, you should look for a property that only has some low-cost repairs and maintenance that need doing. Low-cost jobs include things like replacing windows, painting interior and exterior walls, and replacing floorboards. These are also fairly simple jobs that you can do yourself. However, if a property requires any major work, such as completely replacing air con systems and installing a new bathroom or kitchen.
Get It Professionally Designed
If you aren’t too experienced in interior design, you might want to contact a professional interior designer to help you redecorate the home to a very high design. This will help attract more buyers. Once you do move onto more complicated fixer upper properties, you can use services such as Pagenstecher Group remodeling to ensure that all the work is done to a high standard. Don’t worry about spending money on these types of services – the finished result will help increase the house’s value, so you will get your money back once you sell it.
Get It Inspected
You should get your home inspected once it is complete. Lots of buyers get an inspection done before they sign on the dotted line. But if you have already carried one out, you will find that this greatly speeds up the selling process.
Not only is buying a fixer upper a great investment for the future, but you will find that it is such a rewarding project! Why not think about looking for one today?
*This post was contributed. Family friendly post are welcome.