Flipping homes in Edmonton
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Posted On :
Sep-26-2012
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Article Word Count :
540
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Get some great tips on how you could fix up a home that needs some TLC and sell it within a short period of time at a nice profit.
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In recent years the practice of "flipping" Edmonton real estate has become popular. It has a certain Cinderella appeal, with visions of rags to riches. There is a reality to reselling properties, however, that cannot be ignored. Between those before and after pictures, there is judicious decision making and hard work. Some considerations include factors like location, budget, cosmetic vs. structural work, prioritized improvements for maximum selling possibility, and more.
Before you begin the process, you must establish your budget. Set your ceiling and stick to it. When first considering a real estate investment, look for a home in a decent neighborhood that shows signs of neglect. The extent of repairs you face should be determined by your investment funds. It is never wise to buy a house with a damp basement, cracks in the foundation, or evidence of infestations of pests that can cause structural damage, like termites.
Pay attention to the exterior of the home. Clean up and landscape the yard, paint front door, paint trim, repave the driveway or lay down fresh gravel. The first impression of the house should be a favorable one.
An inadequate kitchen can chase away a potential buyer, so it is the most important room to consider. Kitchen renovation costs can be astronomical, or expenses can be limited to lower priced cosmetic changes. Replacing old worn cabinets is a pricey proposition. A less expensive alternative is to simply replace or refinish the doors. Granite or stone countertops are lovely, but expensive, especially if you are unsure about the personal tastes of prospective buyers. It is better to stick to an attractive, less expensive, counter covering. Fixtures should be gleaming and look like new, or replaced. Make sure the flooring is attractive and in good shape, and when choosing color schemes, keep it neutral and light.
The bathroom is another room that will be closely examined. It should be pristine, with fresh fixtures and porcelain. If you need to replace tiles around the tub, do so. Plastic tub liners are installed to hide something, and customers know this. If necessary, redo or bleach grout. Upgraded lighting and mirrors can brighten and enlarge a small bathroom.
Consider how the maximum change can be wrought for the minimum labor. Little fixes can make a difference. Consider painting, cleaning or replacing carpets, investing in a fresh door mat, replacing worn switch plates, power washing the exterior, or brightening up the basement with improved lighting. Gravitate to lighter neutral colors with a wide appeal for varied tastes. Get rid of unnecessary clutter to give the illusion of roominess, even if you temporarily have to place items in storage. If you can afford it, hire professional cleaners. Last, before prospective buyer’s visit, open windows to make sure the home smells clean and fresh. Remember, it is often the smaller things that make a difference.
Most buyers want a home that is ready for habitation without any work. If you make sure you have given the key points the proper attention, kept your decor light and flexible, and provided a clutter free, clean, and fresh environment, you will be have gone a long way in providing them with what they seek.
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Article Source :
http://www.articleseen.com/Article_Flipping homes in Edmonton_231688.aspx
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Author Resource :
Find out more about buying and selling Edmonton real estate at http://www.homeinedmonton.com You can search all of the MLS Edmonton home listings that are updated every hour at http://www.homeinedmonton.com/mls-edmonton
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Keywords :
edmonton homes, real estate edmonton, real estate, edmonton houses, buy homes edmonton, real estate for sale,
Category :
Finance
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Real Estate
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