Property in Abruzzo,
Making money with
Property in Abruzzo
... your 8 tips!
Choosing to buy a holiday home in Abruzzo offers you so much not just a beautiful, culturally rich place in the sun to relax. But, some of you want to earn money in property as a first priority. Buying a house to re-sell for a profit is an exciting way to earn some good money and at the same time, you can enjoy Italy and the food. Here are 8 tips when considering flipping a house;
1. Location, location, location – you want to be aiming for an area that is growing and improving. Focus on areas with amenities like bars, restaurants and shops. These need to look like they are profitable, full of people. Avoid areas with a lot of empty, derelict houses as it may be a dying area. Look for life, people, traffic, road signs, adverts, noise. New infrastructure, building work, signs of investment on a bigger scale. Aim closer to the beach or big cities.
2. Give them what they want – renovating a holiday home can be a fabulous hobby and a popular way to unwind. Buyers prefer to pay less for the purchase and then put their personal touch on the house and decide on its layout. When flipping a house, do not over spend on any renovations that the new buyers would want to do themselves.
3. Look for the dirt – it is very difficult to see the beauty in a property when it is full of rubbish, dirt, spider’s webs, dead animals and pharmaceutical items. These properties often offer the best opportunities, as many buyers will just run away! Be brave and check what is behind the mess for any signs of long-standing or structural problems. If you think that the property is dry and structurally sound you may be on to something. If somebody treats their property that bad, then make an offer that reflects their lack of interest. It is inexpensive to clear out rubbish and give a property a lick of paint.
4. Local or foreign – the local market and the holiday home market are generally quite different. Very few properties and renovations attract both markets. If you live in a house, you prefer a very high quality finish that will last, and to finish the whole house as quickly as possible. If you are in a house 2 weeks a year on holiday, you can be more flexible on the finish quality (budget) and building work can wait. The Italian market does not like to commute to work so residential areas near industry are popular. Holiday home buyers think about food, drink, views, beaches and mountains, not proximity to work.
5. Make mine a Montepulciano – what is more idyllic that the idea of sitting on a terrace or in a private garden, sipping wine and staring at some breath-taking view? An absolute must, is outside space, enough room for a table and four chairs. Light and views are next on the “must list”.
6. Meet the neighbours – some buyers want privacy to run around naked in their backyard, and others want to be part of the local community. Be aware of properties that do not have either, no community, no privacy. A classic example of a bad investment, a semi-detached farmhouse hidden in the countryside with land, no community, no privacy.
7. Buy with your brain! – Don’t get all romantic and sloppy. Make a list of what you want before you travel, and stick to it.
8. Where shall we put Granma – go for at least 2 bedrooms as everybody expects visitors and people want some space. Try to avoid too many stairs and too many floors (ground floor and first floor is best). It can be difficult to find traditional and old town houses with 2 floors, however.
Abruzzo is a great property opportunitiy
call me and I'll show you!