We Buy Houses in Shelby, Alabama. When you begin your journey flipping homes, there are some things you need to know, and other things you will want to avoid. As local homebuyers in Alabama, we’ve put together some tips on how to sell a fix and flip house fast in Shelby, AL.
Flipping a home in Shelby, AL can be a great way to get cash for houses in Shelby, but it is never as easy as it appears on HGTV. We hope our tips and tricks will help you sell a fix and flip the house fast!
First You Must Understand Your Location And Market In Alabama
They say a home’s value is based on location above all else. 60% of the home’s value comes from where it is located on the map. Home prices may vary drastically as you move from neighborhood to neighborhood.
A house that might be a great value in one part of town, may sell for considerably less just a few miles away. Make sure you have done your homework and have a good understanding of home prices in YOUR neighborhood.
You will also want to have a grasp on the demographics in the area. Who is buying? Families, seniors? What are they looking for, and what can they afford?
Don’t Over-Improve Your Home In Shelby, AL
When making improvements to a home you plan on flipping, remember that less is more. There are no guarantees that you will recoup the costs spend to fix it up. Replace things that are not working or that appear very old, but leave it at that. Do not sink money into a home adding excessive details and upgrades. If bathroom cabinets are old and ugly, replace it with a simple (and cost effective) pedestal sink. Always keep in mind, that no matter how many upgrades you make, a home will not sell for $500k, when the neighboring homes are going for $150k.
Price Your Alabama Home Before Anything Else
Before you sign the papers to buy the home, have the number in your head of what you will sell it for. Be careful not to overinflate this number. You should be pricing low in order to get a buyer and sell the home fast.
Be realistic and stick to your numbers. Do not think that by making a $40k renovation to the basement, you will be able to add $40k to your asking price.
Review all your numbers before getting started, and keep in mind, repairs typically require more money than what you initially plan for, so give yourself some cushion.
Only Drop The Price Of Your Shelby, Alabama Home Once
When you initially price your home, give yourself enough room to drop the price once. Plan to make a significant drop of $5-$10k if the house isn’t receiving much attention at your original asking price.
You will only want to drop the price once. Dropping the price more often can make the house appear as if something is wrong with it, or that you are desperate to sell. Before starting any real estate investment project, it is important to educate yourself and work with professionals you can trust.
Sell My House In Shelby, AL
When you want to sell your house in Shelby, house flipping is your one option especially when the property is in distress. But before starting any real estate investment project, it is important to educate yourself and work with professionals you can trust. You should always strive to do a great job upgrading and repairing the property, but make sure you are working with the right people so you can get the job done quickly. Just reach out to us. At Sell Birmingham Home Fast , we pride ourselves being professional Alabama home buyers and we can help you make the best decision for you.