8 tips to make money flipping properties in Abruzzo
Article
Property in Abruzzo,
Central Italy
Central Italy
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!
+39 3476448186
info@Abruzzo.House
info@Abruzzo.House