Many people think that fixing and flipping properties will be a quick and easy way to make a lot of money – simply perform a few renovations and upgrades and place the home on the market. However, there are some aspects of a property that can make it less appealing to buyers. Below are a few aspects that could be the cause of your fixer upper home not selling.
Solar Panels
Although many individuals think that having solar panels on a home will make it more appealing to buyers, this is seldom the case. Solar panel systems are extremely costly to install and maintain over the long term, meaning that they’re often far more trouble than they’re worth. Many systems also don’t pay for themselves over time either. If your fix and flip has solar panels installed, you may want to consider removing them.
Swimming Pools
While it may be nice to have your own pool to use during summer, the truth is that several homebuyers are not looking for properties with pools anymore because they become far too costly to maintain. In addition, there’s the safety factor to consider, especially if potential buyers have young children. There have been cases where a potential buyer has requested that a swimming pool be removed and filled in before they were willing to finalize the sale.
Excessively Bright Colors and Décor
Even though you may enjoy seeing bright colors and highly unusual décor, it doesn’t mean that potential buyers will feel the same about it. It may be true that an unusual paint job can be covered, but showing a home with loud paint colors will make it difficult for anyone to envision their own wall art, décor or furniture in that particular space. As such, using neutral colors like gray, white or beige for walls is recommended instead.
Ultra Fancy Bathroom Upgrades
An aesthetically appealing bathroom will go a long way in helping your fix and flip home to stand out from others that are on the market. However, it’s essential to not overspend when renovating this part of the property. In many cases, a fresh coat of paint and a new vanity will be far more appealing to potential buyers than ultra fancy fixtures such as brass faucets and marble countertops.
Wall to Wall Carpets
Once popular in homes throughout the country, wall to wall carpeting has lost its appeal over the past decade or so. Most homeowners prefer options such as laminate, engineered hardwood, solid wood, tiles or even vinyl flooring because they not only look more attractive; far less maintenance is required over the long term to keep them clean.
If any of the above-mentioned aspects are in the property you intend flipping, now is the time to rectify or remove them. Need a loan to cover the cost of these upgrades? Contact our team today to see how we can assist in this regard.
