Add Value to Your Flipping, If You Want To Sell Your Home Fast – Flipping Before Selling

Add Value to Your Flipping, If You Want To Sell Your Home Fast – Flipping Before Selling


Basically, “house flipping” or “flipping houses” is a term used when you are buying a house and then turning around and selling it for a profit.  Normally you spend some time and money (or someone else’s time and money) fixing things up (or “rehabbing” or “flipping”) the home.  Though this may not always be the case, this process of fixing up the home is how you add ‘value’ to it.  And speaking of value, we enumerated the top three areas to focus that add value to your home.  

  1. MAINTAIN THE BASICS. These are the things that buyers expect when they purchase a home.  This includes a roof that doesn’t leak, functioning gutters and downspouts, a dry basement, a reliable furnace, solid floors, walls that are in good repair and retaining walls that work!  Most of the potential buyers also expect your home to have good utilities installed, like a complete functioning plumbing and HVAC systems. In upscale properties, the basics might also include a certain number of bedrooms, bathrooms and garages, and any other amenities that are common to the neighborhood.  Achieving all these ‘basics’ may add value to the property exactly as it merely brings the property up to the standard level of the rest of the homes in the ‘hood, ensuring that you can ask a comparable price. 
  2. ADD CURB APPEAL. The attractiveness of a property for sale and its surroundings when viewed from the street, such as the landscaping, the front entrance, and the condition of the paint or siding are the biggest factors in curb appeal. It also includes a well-manicured lawn, low-cost gardening or landscaping, fresh paint (at least, the front door), cleaned decks or porches and new fixtures (even redoing the address numbers).  This will help the property to look good when prospective buyers arrive for viewing.   While these projects may not add a considerable amount of monetary value, they will add a significant amount of value and impact in total packaging of the property upon flipping before selling them – fast!
  3. PERSONAL AMENITIES. Personal amenity projects are nifty items that you may add to renovation works.  In most areas of the country, these include amenities such as swimming pools, tennis courts, hot tubs, wine cellars, basement game rooms and ponds.  Believe it or not, a swimming pool rarely adds value to a home in this day and age. First of all, it usually costs a small fortune to have an in-ground pool installed.  Secondly, many homebuyers view a pool as a high-maintenance hassle and safety hazard – and for something that’s useable only a few months out of the year (unless you live in a tropical climate, of course).  There’s certainly no harm in adding these items to your house, but don’t expect potential buyers to be willing to pay a premium to get them when you are flipping before selling your home. 

Remember, when flipping houses, it’s important to know which improvements to make and the areas to focus on.  Be sure you only fix what is necessary, and work within your budget. There is a possibility that you will lose a sale due to under-improving a property and increase your cost due to over-improvement. Make sure that you are aware of the necessary renovations and repairs to make, as well as the upcoming industry trends.  To better understand other topics on flipping before selling a home,  feel free to contact us at CPDHomes thru our line @ 216-282-4332.  Visit our website for more of our services at www.cpdhomes.com.  We will be more than happy to assist you!

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