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Latest Articles
How Water Softeners Can Help Sell Your Home
Tips On How Water Softeners Can Help Sell Your Home Did you know that having a water softener can help you sell your home? It can, and that’s...
on Feb 15, 2019
Simple Steps to Replace an Old Radiator
If your home isn’t being heated efficiently, it may be time to replace the radiator. Old, corroded radiators use more energy than...
on Feb 15, 2019
Improvements That Can Increase Home Value Best
Improvements That Increase House Values You may live in your home the rest of your life. If you ever sell, however, simple improvements can...
on Feb 14, 2019
Tools to Add to Your Home Woodworking Toolbox
A lot of home repair projects involve a bit of woodworking. On its own, woodworking is a great hobby to get into, mainly because you can play with...
on Feb 13, 2019
Moving into a New Home for the Very First Time? These 5 Tips Will Make It Easier on You
Moving into a new house for the first time is an intimidating and stressful experience, but you can make things easier by following a few simple...
on Feb 11, 2019
Popular Articles
Three Places to Spend Money on the Exterior of Your Home
When you have the exterior of your home remodeled, you are investing, time, energy and convenience into the project and you want to make sure that...
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When to Use a Brush, Roller or Sponge Brush
Brushes are a good choice for painting trim and woodwork. They are also useful for cutting in the edges around the top and bottom edges and corners...
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Homemade Headboards-Make an Upholstered or Wooden Headboard
Homemade headboards can add a lot of personality to any bedroom. They can be coordinated with existing furniture and room decor or they can be the...
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Creating a Cottage Kitchen with Bead Board
Kitchen decor can range from modern and bold to elegant and elaborate by using strategic kitchen pieces. One of the most popular decorating trends...
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Gas Fireplace Diagnostics and Troubleshooting
Follow these steps for diagnosing and troubleshooting Gas Fireplaces repairs. For the average DIYer, this may seem intimidating, depending on the...
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How to Buy and Resell Condos for Profit
by Boris Dzhingarov on Feb 26, 2018
Flipping condos can be a rewarding venture if you learn how to do it right. It basically involves buying condominiums at a discounted price and reselling them at a higher price. If you play your cards right, you can resell a condo at a price higher than the prevailing market price. However, there is the possibility that you could make a loss if you overlook some issues when buying and renovating condos. Here are some tips to help you make your flipping business profitable.
1. Estimate the Cost of Renovations
When choosing a condo to buy and resell, conduct a thorough inspection and estimate the cost of renovations required. Inspect the kitchen, bathrooms, and the plumbing in the condominium. These areas account for the most expensive renovations and repairs in any property.
In addition, potential buyers will head straight to the kitchen and bathrooms when inspecting the condo on sale. You cannot compromise on the quality of materials used in these areas. Check the latest trends in designing kitchens and bathrooms to make your condo more attractive. Find ways to minimize the cost of renovations because buyers will not necessarily pay more for a completely remodeled kitchen or bathroom. Prioritize condos with lower costs of renovations.
2. Use Hardwood Floors
Hardwood floors appear on top of the list of the features that buyers consider when buying a residential property. The floors eliminate the need for carpets, which are expensive to buy and maintain.
Chances are that you will buy a condo with a different type of flooring. Invest part of your resources in hardwood flooring. Some sellers opt to laminate instead of incurring the cost of hardwood floors. The truth is that buyers can quickly spot cheap floors even before inspecting other parts of the house. Go the extra mile and change all the floors where possible. Your condos will always stand out to buyers even when some features or designs are outdated.
3. Invest in Proper Lighting
The lighting in all the rooms is another top consideration for buyers when comparing condos for sale. No one wants to live in a dull condo, especially when they have so many other options in the market, and proper lighting can dramatically change the look of any room.
You may find condos in a good condition that can give you high profits but with small windows. The location of the windows may also make some rooms appear dull. If you find out that you’ll need many light fixtures to light up a condo, consider investing in floor lamps or wall-mounted lights. Having lampshades everywhere will make the condo appear congested and cheap.
If you want to make high profits out of flipping condos, think about the features that buyers consider when choosing a house. The lighting, flooring, bathrooms, plumbing, and kitchens come on top of the list. Invest in these areas and use modern designs when remodeling each condo. Use the same features to pick the right condos to buy and resell.
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