Buying and flipping properties are all the rage these days. Take a few minutes and try to pass by any home network on television that doesn’t show remodelling taking place. It is the thing to do, and in 2019, the market may still be right for you to jump on board.
But, the question is, do you invest money in building a brand new property or invest money in managing a property? Either way, if done right, you could profit big time from your hard work.
Building Your Own Property
2019 projects show an increase in selling properties, but it is going to increase at a very slow pace. However, studies show that people are more interested in brand new houses and that they expect an increase of 8% to occur with brand new properties. This will ultimately lead to being able to sell your property for a higher price, as discussed in real estate trends. The biggest thing to keep in mind is to be sure that your house stands out from the local competition.
Before deciding to build a new house vs. flipping a home, you want to consider the following points about building a new home, as outlined by Planning to invest in a property? Consider building it instead.
- Correct funding for land purchase and home building
- Finding land to build on
- Finding the right architect or builder
- Building floor plans, materials, aesthetics, and furnishings
- Construction contractor insurance
Matching yourself up with the right contractor and architect will make this job run a whole lot smoother for you. As a benefit, the house set up is completely yours. Your ideas, your plans, your vision! New homes are built better for the environment, and you won’t run the risk of possible health concerns of buying used property. Everything will be fresh, new, and up to code.
Investing in a Property
Maybe you feel that investing in a property will be a more attractive deal. For one, there are many companies available that can assist you with all your decision making when it comes to investing in a property. Companies like Dream Design Property DDP Property are a perfect example of what help is available to you in the market.
They supply you with a team to help you with every step of the way. Instead of you having to do all the research, as expected when building a new home, they break down the process for you in a step by step fashion.
- Step 1: Strategy-Meet with property specialists
- Step 2: Finances-Finance team helps you get pre-approved
- Step 3: Find Property-Look at the most attractive property on the market
- Step 4: Negotiate-They will help you negotiate with the vendor’s agent
- Step 5: Due Diligence-Making sure the house is up to code
- Step 6: Conveyancing-Settling the property quickly
- Step 7: Renovation-They have builders ready to go
- Step 8: Property Management-What your next steps need to be
Clearly, there is a lot involved, but that is to be expected when dealing with properties. And, as you repeat the process several times, it will become easier and easier.
Either way, you can make money. Finding the right help is vital. You don’t want to miss any crucial steps in the process. Take the leap of faith in 2019, own your own property, and fill up that bank account.