It won’t have missed many people that the housing market is currently doing pretty OK. We still haven’t seen the levels of house investment like the years of 2007, before the financial crash, but we have seen a pick up since 2010; it’s no surprise either. Housing is a sound investment.
For house market investors however, the road is still a little uncertain. The market has moved but with more mortgage restrictions than ever before, it has become harder to build portfolios; that however, doesn’t mean that it is impossible. Property specialists Fast Florida House Sale have investigated the average national costs of fixing a home, whether it is to sell your house fast or whether an investor, like you, can make profit from a quick house flip.
You would be surprised at some of the findings. House flipping was common in the early 2000’s, and investment portfolios were full of homes that didn’t even meet basic living standards, yet they were purchased and turned around quickly.
Of course, the investments choices you make depend on the people with whom you make them with, but being informed can help with your decision.
If you thought a kitchen remodeling was a cost effective solution to get a house flipped, you may want to think again. With an average cost of $24,000 you could consider new doors, countertops and a re-tile over a brand new kitchen to reduce the cost of the works.
One oversight that property investors miss is the garden. Yes, the garden holds the secret to a good house sale, but be careful when overspending here as well. You want a well maintained, easy to keep look in case you are having to spend a lot of time with the property on the market. However, the average cost to get your garden looking great with that white picket fence? £2,500.
Interior Paint Job
Finally, a lick of paint is where people start, and we would advise that you put this close to the top of the list as a good re-decoration will help make the house feel fresh. Be warned though, choose light airy colours and nothing dark or dreary. Your average investment of $1,600 could yield an 8% return or the wrong paint choice could give you less than a 2% return.
Fast Florida House Sale have created a simple, go to infographic that you can look at the other investigations they took to see what it would take to make your property investment worthwhile.
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