Property investment is a great way to earn good money. But only some people really succeed in the field. One of the most popular modern methods to make money in property is to fix and flip properties for resale. There are a lot of advantages of this method and a lot of people are doing so instead of becoming full time landlords. When you buy a home to fix up with a short term loan you will need a company that will provide you with renovations Vancouver BC that home owners trust.
So, you have already secured you loan and found the idea fix and flip property. In order to pay back the loan you need a quick turnaround, and that means getting on with the repair jobs straight away. In this article we will look at some if the repairs you might carry out in order to get a good price when you put the property back on the market again.
When you buy a property for fixing up, the price tag will be low. You might have bought the property at auction for a very reduced price. But of course there will be a reason for the reduced price. Windows and doors may need replacing. This will take up a large amount of the budget you set aside for renovations. Choosing double glazing is a must, as is the installation of safety locks on all windows.
So asides replacing these big items, what else may you need to fix up. Well, for starters you must check the state of your roof. If it is leaking then obviously repairs will be necessary. But a survey is the best way to determine what state the roof is in. Beams may be rotten and they may have to be replaced entirely.
Repairs to the electrics, plumbing, and drainage are also common for renovation properties. If the house is old, it may need rewiring. In other cases you might just need to add new plug sockets and light switches. A CCTV drain survey for your drains is a must when buying an old property. Depending on what is found, several types of repairs may be necessary or new pipes.
Selling on a property will be easier if you carry out all the necessary repairs. A buyer will also look at the pipework and electrics, and this means that if you don't repair them you will have a hard time selling the home.
Minor repairs to the house will also include painting of windows, doors, and frames. You might also like to check out the state of the floors. Beams underfoot could have damp in them or alternatively could have woodworm that needs treating.
These are just some of the repairs yo'll have to carry out before you can put your Vancouver BC property back on the market for resale. Other areas to include in your renovation will include your driveway, garage door, and garden maintenance. A home that has been neglected will take some work to fix up, but when you do your calculations correctly, you stand to make a tidy saving on the sale.
So, you have already secured you loan and found the idea fix and flip property. In order to pay back the loan you need a quick turnaround, and that means getting on with the repair jobs straight away. In this article we will look at some if the repairs you might carry out in order to get a good price when you put the property back on the market again.
When you buy a property for fixing up, the price tag will be low. You might have bought the property at auction for a very reduced price. But of course there will be a reason for the reduced price. Windows and doors may need replacing. This will take up a large amount of the budget you set aside for renovations. Choosing double glazing is a must, as is the installation of safety locks on all windows.
So asides replacing these big items, what else may you need to fix up. Well, for starters you must check the state of your roof. If it is leaking then obviously repairs will be necessary. But a survey is the best way to determine what state the roof is in. Beams may be rotten and they may have to be replaced entirely.
Repairs to the electrics, plumbing, and drainage are also common for renovation properties. If the house is old, it may need rewiring. In other cases you might just need to add new plug sockets and light switches. A CCTV drain survey for your drains is a must when buying an old property. Depending on what is found, several types of repairs may be necessary or new pipes.
Selling on a property will be easier if you carry out all the necessary repairs. A buyer will also look at the pipework and electrics, and this means that if you don't repair them you will have a hard time selling the home.
Minor repairs to the house will also include painting of windows, doors, and frames. You might also like to check out the state of the floors. Beams underfoot could have damp in them or alternatively could have woodworm that needs treating.
These are just some of the repairs yo'll have to carry out before you can put your Vancouver BC property back on the market for resale. Other areas to include in your renovation will include your driveway, garage door, and garden maintenance. A home that has been neglected will take some work to fix up, but when you do your calculations correctly, you stand to make a tidy saving on the sale.
About the Author:
For urgent renovations Vancouver BC residents can fully rely on our construction experts. Find out more about our services online at http://www.midasconstruction.ca.