Lee Keadle is a professional Realtor serving the Charleston real estate market. For more information on Charleston homes and properties, contact Lee today or visit www.searchforcharlestonrealestate.com
With home flipping becoming as popular as it has, interested investors and DIY'ers are forever seeking the perfect location to flip homes in. Several markets around the nation have been tapped to great success. Buyers are going totally mental having so many beautiful choices when they start looking for homes. Many of these homes that have been reno'ed for flipping have been what is referred to as "cosmetically fixed." That is that the visual aspects of the home have been improved but the calling card of a truly well done home flip is the updating of the home's vital systems that carry water and electricity to all rooms.
In an area like Charleston SC this is crucial as many of the homes here are beautiful old historic homes that have a beauty that is rare in new construction homes. A home flipper in SC needs to know their game to restore one of Charleston's famous turn of the century homes. This style of home can command huge money on the local market as people are jumping at opportunities to have a historic home with all the modern conveniences.
Once the vitals of the home are updated, that is the plumbing and electrical systems; you can simply set about the "cosmetic improvements" we spoke of earlier. In considering these things the usual culprits are floors, fixtures, appliances and paint.
Remember to budget properly for this project as the whole point is to make the fixes and sell the home as quickly as possible for as much as possible. A proper home flip can be completed in approximately 3 months so keep a keen eye on the local real estate market for fluctuations and patterns. You will want to pick up the project home for as low a price as possible and then try to time it's listing with an upswing in the market when there is a high demand for quality homes. Constant communication with your real estate agent is a great way to keep on top of what is happening in your local market.
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