subject: Basic Starter Homes Remodeling Instructions [print this page] This time I will have to teach you some of the basic instructions on how to remodel your starter homes and to sell it on the real estate market. If you're an investor or a home buyer who probably looking to sell your home in a much higher cost, then you must learn how to budget and know the places to spend your investments.
1. Know your budget - if you are investing in starter homes to sell requires home owners or investors to lay out a budget for the expenses like the rehabilitation or repairs, utilities, permits and the carrying cost while the house is in the market.
Create a budget for you to know the total overall cost like the needed materials and cost of infrastructure such as checking and re-wiring of the house, checking and replacing faulty plumbing and removing of walls. After doing that structural changes and checking all major places that need for repairs, then start calculating the cost of installing the new window, the flooring, the bathrooms and the cabinets and the new kitchen.
2. Ask a real estate agents - after nicely done remodeling your home it's now time to list it for sale by the owner in teh market. Regarding this matter you can interview real estate agents who is familiar with your goals in remodeling the home. You can ask your agent on how they will going to market your home, either with small firm or a big brokerage. They are also an excellent source of advice about the the style of carpeting and the color of choice and if they know any suppliers in the area that they would recommend.
3. Established a relationship with the suppliers - whether they're local hardware, independent suppliers, store owners or employees as they're the one who knows what are the items investors use for the types of properties in the price range that they remodelled and resold after.
4. Do a seperate checking account - it is better that you should set aside to different checking accunts to track the funds. I would recommend that you must use a spreedsheet for accounting the weekly cost of the materials and labor. Doing this will enable projections for profitability.
When the constructions and remodelling comes to near end, then it is the right time to talk with the real agent about listing the property, work needed to make it successful and the best time to hold an open house.
5. Let them know the quality of the work done - When negotiating with the price of the remodeled home, let the buyer know and the understand the hard work that you've been done. Just like if you've done quality work on re-wiring and insulation placing on the attic let them know so they will understand the improvement made and the risk to come up with a quality property. In this way, a buyer will likely hesitate to ask for a lower price.
by: Ivan P.
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