LOCATION! LOCATION! LOCATION!
This number one rule of real estate is also true in flipping homes the HBJ way. Choosing a home for a particular client in a traditional home search allows the client to set the parameters, but when you are looking for homes to rehab, the rules are different. What makes a good location? The variables that we consider when choosing a renovation are below:
Look for established neighborhoods where older population may be leaving. This makes for a great opportunity to rehab the home and eventually the entire neighborhood. The updates make the home attractive to younger buyers, but the condition of other homes yet to be renovated in the neighborhood allows you to price the home to sell faster.
Look for areas that are close to an interstate. Quick access for work and play is essential!
Consider the area schools. Most of the up and coming home buyers have or will be having children. Good schools are a plus in getting them to buy your home!
Choose neighborhoods that are close to shopping. Convenience is always a motivator!
Finally, look for locations near medical facilities/hospitals. Not only is this a benefit for the homeowner, the proximity allows you to market the home’s availability to hospital staff!
There are so many factors when choosing the right home to rehab, but we the experience to help you maximize profits.