Flipping houses is becoming a lot more popular in today’s market. If you are consider going into this field, here are some things to think about.
So what should you look for in a potential house flip?
-Location. Expert house flippers can’t stress this enough. Find a home in a desirable neighbourhood, or in a city where people want to live. In a down market, like the one that exists today, finding a superior location can be a challenge. Start by researching local cities and neighbourhoods. Look for areas with rising real estate sales, employment growth, and other indications that the town will rebound from the recession.
-Sound Condition. You don’t want to tear the house down, and start rebuilding it from scratch. Look for structurally sound homes. You may not have the opportunity to have a home inspected, especially if you buy the home at a real estate auction. You need to learn what to look for, or bring someone knowledgeable about building, electric, and plumbing with you to look at the home, to determine if the home is structurally sound.
-Good Schools. Homes in a good school district sell more quickly.
-The Right Fixes. A home with old carpet and wallpaper featuring pink poodles may be easy, and cheap, to update. Other home repairs to tackle might include installing outdoor motion sensor lights, replacing old kitchen linoleum, and replacing hollow doors with six-panel doors throughout the home. A house that has mold, needs a roof replacement, or needs rewiring, requires some serious time and cash to update and sell. Make sure you know which updates and repairs you can afford to fix, which repairs you can’t afford, and which home improvements will increase the selling price of the house. When you estimate the cost of any job, experts advise that you add 20% to the final estimate. Why? It’s always going to cost more than you think it will.
Adding value to your home is the number one concern for most homeowners. It doesn’t matter if you’re prepping to sell or looking to build long-term equity, knowing the right renos to invest in is important to ensure you get the most bang for your reno buck.
Ever wonder about the number 1 request from both homeowners and tenants when they’re looking for a home? Hardwood floors. And why not? Hardwood looks amazing, is timeless and is incredibly durable. It’s also expensive, so it’s wise to weigh your options before shelling out big bucks for the big impact that hardwood delivers. You can go with traditional hardwood or engineered hardwood, or if hardwood isn’t what you’re looking for (or if it isn’t in the budget) there are plenty of great laminate options available to you as well. Regardless of your choice, a flooring update always brings new life to a space and instantly gives the impression of a renovated and redecorated space.
2. Hardware & Fixtures
It sounds like a simple little update that doesn’t mean a lot, but replacing relatively inexpensive items like faucets, sinks, toilets and drawer pulls can make a big impact.
Let’s face it: Switchplates are $.49 at your local hardware store, so there’s no excuse. Cabinet and drawer pulls are also a drop in the bucket and things like doorknobs, light fixtures and faucets are also inexpensive, minor updates that can really improve the entire feel of a room. A small investment can equal a big return, making the space feel fresh and modern.
The first rule of bathroom renos: If it’s pink or blue, rip it out! Pastels, seashell tiles and fuzzy toilet seat covers scream ‘grandma’s house,’ and while you probably have fond childhood memories from grandma’s house, chances are you don’t sit around reminiscing about the décor.
When you ask people to describe their perfect bathroom, about 95% of people use the words “spa like.” What does that mean exactly? From my experience it means a soothing colour palette, clean lines, modern materials and chic finishes. You may be hearing “cha-ching”, but keep in mind that bathrooms are small and therefore require less material. Consider making a statement with a stand-out tile or funky sink or faucet to set the tone of the space – a little goes a long way.
Kitchen remodels are notoriously expensive. When you start throwing around words like “granite,” “stainless steel,” and perhaps the scariest – “custom,”(it can make a lifetime courting takeout menus sound like a good idea). But don’t panic – I have good news on two fronts: Not only can you do a great kitchen renovation on realistic budget, but kitchens also give you the biggest return on investment, far beyond any other room in the house.
Don’t believe the hype – there’s almost never a need to invest in custom cabinets. You can customize standard, out-of-the-box cabinetry to almost any kitchen layout.
When it comes to counters, while stone is still the number one choice, there are more and more affordable alternatives that look expensive – butcher block, composite, and high-end laminates are all great options.
5. Income Suites
No shock here, but it’s true – there’s no renovation you can do to your home that will increase its value as much as adding an income suite. Whether it’s your basement, a third floor or loft conversion, or even a coach house style suite in a garage, income suite renovations, when done correctly, easily allow you to double your investment. The extra bonus? Not only will an income suites add a huge amount of value to your home, it’s an investment that will actively make you money while you build equity. What more could you ask for?
Today we are featuring prana holistic, nutritionalist .
1) How long have you worked in this industry?
I’ve worked in this industry officially since 2005, but really, I have been doing it my whole life. Both of my grandmother and mom worked in alternative health, and I have been doing this work for as long as I can remember.
2) How are you different?
I don’t believe in perfect nutrition or perfect health. I believe in functional nutrition and functional health – finding what works for the person who wants to improve their health or nutrition, and how it best fits into their life. Anyone who hangs out with me socially knows I don’t eat perfectly. But I am healthy and have a plan that suits my goals and my lifestyle. And isn’t that the point?
3) How can people benefit from your services?
When people feel better, they live better. Better health and nutrition tends to ripple out into other areas of your life and everything starts improving: your work, your relationships, your experience of fun. Good health is central to your enjoyment of life.
4) What are the top three services that you offer?
I have three main ways that people work with me:
a. through my virtual cleanses, which are a way to reset your nutrition in a short time, so you can experience what better eating feels like, and decide for yourself if you want to continue. It’s also great if you just need to depuff for a big event and need a little support to focus.
b. I design nutrition plans and menu plans for clients who want a plan designed for their unique goals, lifestyle and personality. I can also work with someone over a period of time to help them achieve these goals, offering encouragement, accountability, and support.
c. I also do reflexology, which is a hands on body work – think of the best foot massage you’ve ever had, and add such benefits as hormone balancing, improving digestion, and reducing back or neck pain.
5) how can we get ahold of you?
Considering renovating your home before selling may be a hard decision.
Some types of renovation are completely worth it but if you only do bits and pieces at a time you may have trouble selling.This is because most buyers want move in ready homes, something they can unpack and enjoy without doing any work.
When people ask me if they should do major renovations before selling. I usually tell them it is not worth it. The reason is you do not know who will buy the property and and their preferences, do they have kids, busy household? Do they need two stoves versus one? It is almost impossible to know. When renovating think of what you like versus what will give you the best ROI.
So if you’re considering doing any renovation, talk to a professional for advice.
Home staging will have a positive impact if it is decorated to the buyer’s taste