By Meghan Belnap
A house or yard flipper is an investor who purchases particular properties and creates new ways to make them more attractive and of higher quality for the purpose of selling quickly at a higher price. The goal, of course, is to make a profit over and above the purchase price and all costs involved in the renovations.
Real estate flipping begins with buying a property at a discounted price because the owner doesn't have the money to make necessary repairs—or they may prefer to sell immediately for a variety of reasons, such as having to relocate, going through a divorce or facing a foreclosure. Help raise a home's resale value with these tips:
Add a Garden
A beautiful garden, whether it's filled with flowers, vegetables or fruit, is a wonderful enhancement. Many homeowners love to sit and watch over a garden's colorful beauty before picking a few ingredients for the day's meals or to decorate the home.
Replace the Lawn
If you can't clean up the yard and make it look good with some landscaping additions, you may have to actually replace it. It's important to give the yard curb appeal and make it attractive to potential buyers at first sight—but, be sure to not "over-improve." It doesn't make sense to invest a lot of money in a moderately-priced property that will unnecessarily eat into expected profit.
Replace the Patio
Concrete pumping by a reputable company with a lot of experience is ideal for homeowners who want to install or replace a patio safely. A patio is an excellent addition that would be appreciated by prospective buyers, as they picture themselves enjoying such a feature on a regular basis.
Get a New Shed
Often, there just isn't enough storage space in the house and garage. That's when a shed comes in handy, especially for bulky items, garden equipment, ladders, bicycles, boxes of items not wanted in the house, and more. Too much clutter in the yard can lower property values due to aesthetic alone. Hiring a waste removal company, however, can be well worth the investment—and also get the work done for you.
Do not make one of the biggest mistakes that some flippers in a hurry do: buying a house sight unseen. Pictures of the property are no guarantee, as they could be old and not show crucial details. You would have no idea what the truth is about the structure and contents, what the neighborhood is like and if it's up-and-coming, whether houses are selling quickly, what the real estate market is like, etc.
The sales price needs to be below the median property value so that you have better assurance that you'll make a profit when you resell. Prospective buyers need to find it affordable, be impressed with the improvements and additions that you have made, and be encouraged to make an offer.
Meghan Belnap is a freelance writer who enjoys spending time with her family. She finds happiness in researching new topics that help expand her horizons. Looking for a concrete pumping service? Belnap recommends Pump Concrete.