Lots of people watch those house flipping shows on HGTV and think, “Hey, I can do that. How hard can it be?” HARDER THAN YOU THINK, CHIP!! Successful house flipping is not only hard, it can be expensive and risky. There’s no quicker way to lose every cent you have and find yourself neck deep in debt. So before you jump out there and buy some old house to flip, heed these words.
It’s hard to break the news to a client when their home is underwater, i.e. they owe more on the home than it is worth. There’s not much they can do except keep making the payments and hope someday the tide turns, or sell it for a loss, which no one wants to do.
Before you put your home on the market be sure to remove personal photographs and pack up family heirlooms. You want buyers to imagine their own photos on display, and they can’t do that if yours are there. Follow these tips to stage your home easily and inexpensively.
HGTV is killing me… Thanks to HGTV, every home buyer now expects every house to be updated with granite counter tops, hardwood floors, marble showers, and a ton of other high-end amenities. The truth is, most houses would be better suited for a hoarding show than an HGTV dream home. That’s why buyers must either lower their expectations or come off their wallets if they want a house like they see on TV.
Is it better to paint every room the bland universal gray and replace the flooring with something equally benign before you put your house on the market or should you just cut the price and let potential buyers decorate for themselves?