Karen Fiddler did a great post about people's perceptions of Flippers.
While I see nothing wrong with buying a house that needs work, fixing it up and selling it for a profit, apparently others do.
This brings me to, who gets the profit, you or the flipper?
I am always disappointed when a seller doesn't want to invest in their home before selling.
They are leaving the door open for Flippers and DIY buyers.
This type of buyer is looking for basement bargain prices so they have room for a profit when they in turn sell the home.
To me it only makes sense to update and improve the home yourself so that you the seller reaps the profits - gets the equity you have invested out of the house.
I'm not talking about major kitchen or bathroom renovations.
I'm talking about paint, flooring, sinks, taps and lighting.
Then once these updates are done, Staging the house to show off the features in the best way possible.
Show the buyer how livable this home can be.
Show the buyer that they can live their lifestyle comfortably until they decide to do any changes they envision.
Realtors and Stagers can help you decide where to spend your budget for best ROI.
Sites such as www.homegain.com can show you the returns different updates provide.
There are circumstances of course that make it impossible to do updates.
However, if you can manage updates, statistics show your home will sell faster and for more money.
Who gets the profit, you or the flipper?
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