Flippers make a conscious decision not to “overupdate” their homes (for instance, adding marble tile when the comps all have ceramic), and as a buyer you should also consider your comps (otherwise known as your neighbors’ homes) when renovating your space.Ĭonsider the upgrades and fixes that will be attractive to buyers who want to be in your neighborhood, adds interior designer and licensed real estate agent David Schneider of Schneider Kennedy Design in St. In addition, don’t overinvest in design upgrades. Just because you like shag carpet doesn’t mean potential buyers will love it just as much when it comes time to sell. Of course you want to put your own stamp on your new home, but you should also avoid superpersonalized design choices. Down the line, other buyers will hesitate for the same reason. If you’re hesitating in buying a home because of a locational factor - it backs up to a busy road, for instance - don’t buy it. “I have learned that the best homes that sell for the most money and quickly are in areas where people want to live,” says Justin Udy, a real estate agent with Century 21 Everest Realty Group in Midvale, UT. It’s the age-old real estate adage: “ Location matters.” For flippers and buyers alike, location is one of the more important criteria when buying. Here are the six secrets house flippers know that you can apply to your own real estate adventures. What those DIY and home improvement shows don’t necessarily show you, though, is how tough flipping houses for a profit can actually be, whether it’s Miami, FL real estate or a home in Bismarck, ND.īut professional house flippers have insights that can be helpful to just about anyone who’s looking to buy or sell real estate. You’ve seen the TV shows: Individual finds a foreclosed home in the best neighborhood in town, scoops up said home for a steal, fixes it up, and sells it for a significant profit.
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