Home Flipping: Neighborhood Concerns

By: Drew Hartanov

Home flipping has become massively popular. Period. This vein of investment has not only gained national attention via television shows but it has also proven to be a secure investment if handled properly. One of the major things about home flipping that seems to escape some people is the neighborhood concern. This is simply one of the most important factors in any home sale, flip or not. One thing the buyers do not seem to be able to get over is paying top-dollar for a great home in a neighborhood that does not measure up to the home. Location, location, location is the mantra that is often repeated by savvy investors and agents alike and it is the basis of the whole industry.



In planning a home flip you should take a serious look at the areas that the homes are in. While some areas may be run down and offering the cheapest homes that are ideal renovation candidates, will the area really support the increased asking price? The simple reality of the situation is that buyers will not usually go for the "this area is going to be a hot-spot in 10 years, or there is development planned for this area." Buyers generally like to move into areas where the development is already finished. A developing area can be a bit of a headache for daily life with construction, delays and so on.

The ideal home for a flip is the lone run-down home in an already developed and rejuvenated neighborhood or a home in a neighborhood that is currently undergoing a revitalization. These homes are most easily found by networking with a realtor or agent who is an expert in the given area. These professionals are also a wellspring of information about what is in store for any location. This is really the kind of information that is required when planning a flip. Also try to think about what kind of buyer will be searching for a home in this area and try to design the flip with that kind of buyer in mind.

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