subject: Rehabbing A House: Improving A Propertys Marketability [print this page] The first step to rehabbing a house is to buy an old property at a price below its market value. Then, you do some structural repairs and cosmetic works. Once the renovations are complete, you can sell the property that you have painstakingly restored to a livable condition. However, there is one problem. Nobody seems to be interested in buying the property.
To prevent such a scenario from occurring, you have to make sure that youve done your homework before starting a rehab project. Therefore, the first thing you should consider before rehabbing a house is the location of the property you want to fix and flip.
In the real estate business, the location of an investment property is very important. It can affect the profitability and the marketability of the property. So if you will buy a house that you want to rehab, make sure that it is located in a decent neighborhood and not in the middle of nowhere. In addition, look for fixer upper homes that have great proximity to schools, hospitals, grocery stores, and other commercial establishments. Such a method can boost the selling point and the market value of a rehab project even before it is renovated.
When rehabbing a house, always remember that first impressions are very important. Maybe the reason why nobody wants to buy your rehab project is because it lacks curb appeal. Thus, to improve your chances of finding buyers for your rehabbed property, you have to make sure that it can attract and keep the attention of people at first glance.
Contrary to popular belief, you dont have to spend millions of dollars just to improve a propertys curb appeal. With a dose of creativity and ingenuity, you can come up with many ways to enhance a rehab projects look without digging deeper into your pockets.
First stop: the landscaping. Make sure that the garden is always well-maintained. Watch out for creeping weeds on the sidewalks and the walkways because the presence of these nasty buggers can definitely put off a potential buyer. To make the house look homey and comfy, plant assorted flowers and other ornamental plants in the front yard.
Replace the worn-out front door and add a nice knocker or a beautiful wreath to it. If the door is still usable, you can paint it with glossy color instead of buying a new one. This way, you can save more money, which you can use to beautify other fixtures.
