• Three Essential Tips for Fix and Flip Renovators 

    The process of fix and flip renovation involves buying a property for a low price, renovating it, and then selling it for a profit. Television property programs have taken this method of investment to the masses. Yet these glamorous media treatments often gloss over the hard work and financial risk involved. Below, we give our three essential tips for fix and flip renovators. 

    Understand the Seventy Percent Rule 

    The seventy percent rule is the mantra of fix-and-flip renovators. It is a rule that helps house buyers understand what properties are worth buying and renovating for profit and which are best left alone. It states that buyers should pay no more than 70% of a property’s after repair value excluding the cost of repairs necessary for the renovation.  

    When working it out, take the predicted value of the sale after renovation. You should then calculate 70% of this amount and subtract the repair costs. The value remaining is the total that you should pay. Of course, this is only a guideline. The home may sell for more, material costs may change during renovation, or myriad other factors could alter this. However, by using this approach you should be able to turn a profit if no unforeseen circumstances occur.  

    Move Quickly and Smartly 

    When you are looking for the right property, make sure you have the cash ready and waiting. This gives you some freedom when the time comes to make an offer, as it can be troublesome if you need to raise capital quickly. If you do, consider using other properties in the portfolio to finance your new project. Plenty of companies will help sell house fast and if you do your maths correctly, it could pay off if you work quickly enough.  They will often have sales closed in as a little as seven days, allowing you to free up money for your new project. 

    However, don’t let money in your account burn a hole in your pocket. Keep the money sitting and take your time, looking for properties carefully. Educate yourself about local markets and where properties are in demand or rising in value. You may find out about developments like job opportunities coming to an area that could make it more desirable.  

    When you do have the right property, lead with your head and not your heart. Remember it is an investment, not a property that is going to be for your habitation. Plan out your costs along with a timescale, and allow a 10% overspill for any cost rises or unforeseen circumstances.  

    Factor Holding Costs into a Budget 

    One factor many first-time house flippers overlook is holding costs. These are the costs involved simply from owning the property. This can either be in the period you are renovating it or trying to sell. Typical holding costs include bills, load repayments, taxes, and insurance. 

    Don’t be afraid to change tactics during a renovation. You may find some changes are costly or impractical. Other reasons to change plans are if you find the property hard to flip and decide to rent it out for a year. There is no shame in this, as markets and plans can change quickly. 

    World Interior Day 2024 and 10 Trends in Interior Design

    Welcome to World Interior Day 2024! As we celebrate the artistry and functionality of interior design, we also cast our gaze forward to the trends that will define the spaces we inhabit in 2025. World Interior Day 2024: “The Growing Generational Gap: Improved Multi-Generational Future” World Interiors Day is an annual event by the International […]

    Read More

    20 Features Timeless Art Deco Interior Design

    Art Deco Interior Design is a unique style that emerged in the early 20th century, particularly flourishing during the 1920s and 1930s. It is characterized by its bold geometric shapes, lavish decoration, and vibrant colours. The design philosophy emphasizes elegance, sophistication, and a sense of modernity. Key elements include the use of exotic materials, symmetrical […]

    Read More

    Which Colour Is Best For Bedroom: 20 Stylish Colours Of 2024

    As we venture into the year 2024, the palette of which colour is best for bedroom undergoes a transformation. It is a reflection of evolving trends and tastes. In the realm of interior design, the bedroom serves as a sanctuary. It is a space where one can retreat from the hustle of daily life and […]

    Read More

    Tips for Creating Stunning 3D Architectural Renderings and application of 3D rendering

    Crafting exceptional 3D architectural renderings and application of 3D rendering requires not only technical prowess but also a deep understanding of the design’s storyline, meticulous attention to detail, and a willingness to explore creatively. It is crucial for the rendering process to be grounded in an intimate knowledge of the project specifics. High-quality reference materials […]

    Read More

    Passive Ventilation Systems: Understanding Nature’s Breath

    In the realm of sustainable architecture and building design, the concept of passive ventilation systems has emerged as a beacon of eco-conscious innovation. This ingenious system leverages natural elements like wind and thermal buoyancy to regulate indoor air quality and temperature. As a result, it reduces the reliance on mechanical ventilation and energy consumption. In […]

    Read More

    The Ultimate Guide to Standard Living Room Dimensions

    The standard living room dimensions can greatly affect how it functions, looks, and feels overall. Indeed, that is correct! By carefully understanding the space available, designers can adjust the layout to fit different activities like seating, entertainment, and traffic flow. An effectively arranged structure enhances practicality by guaranteeing the room fulfils its designated function. Proper […]

    Read More

    15 Modern Study Room Design Tips For A Productive Space

    Modern study room design comes with the challenge of efficiency. When we say modern, we expect the spaces to be minimal, not too shabby, or overcrowded. All of the modern study room designs can flourish in small or large spaces, depending on the room. They can even collaborate with other spaces in the home. A […]

    Read More

    Dimensions of a Wardrobe: Guidelines For Precision and Elegance

    Are you tired of your wardrobe feeling like a battleground, with clothes fighting for space and breathing room? Don’t worry, there’s a solution. By understanding the standard dimensions of a wardrobe and implementing some smart planning, you can transform it into a spacious place for your clothes. With strategic organisation, you can comfortably accommodate a […]

    Read More

    Ambient Bedroom lighting: Illuminate the mood

    Bedrooms are personal space, depicting individuality and ambient bedroom lighting becomes essential. The bedroom is the place where we relax, and spend quality time whether working or sleeping. Therefore, Ambient Bedroom lighting is necessary to feel calmness and cosiness for relaxation. Light and ambience change the mood and enhance the space. Thus good ambient bedroom […]

    Read More

    50 Best Wall Moulding Design Inspirations For Your Interiors

    Wall Moulding Design is a great way to amp up your space and elevate the overall look of your home. There are a wide range of moulding designs that can add a distinct character to your space. Wall moulding design comes from different kinds of materials, such as PVC, plaster, wood, etc. The right choice […]

    Read More
  • Transforming Outdoor Spaces: A Guide to Wall Lanterns

    15 Tips On How To Paint A Room To Make Your Home Colorful