How to Buy and Resell Condos for Profit
by Boris Dzhingarov on Feb 26, 2018
Flipping condos can be a rewarding venture if you learn how to do it right. It basically involves buying condominiums at a discounted price and reselling them at a higher price. If you play your cards right, you can resell a condo at a price higher than the prevailing market price. However, there is the possibility that you could make a loss if you overlook some issues when buying and renovating condos. Here are some tips to help you make your flipping business profitable.
1. Estimate the Cost of Renovations
When choosing a condo to buy and resell, conduct a thorough inspection and estimate the cost of renovations required. Inspect the kitchen, bathrooms, and plumbing in the condominium. These areas account for the most expensive renovations and repairs on any property.
In addition, potential buyers will head straight to the kitchen and bathrooms when inspecting the condo on sale. You cannot compromise on the quality of materials used in these areas. Check the latest trends in designing kitchens and bathrooms to make your condo more attractive. Find ways to minimize the cost of renovations because buyers will not necessarily pay more for a completely remodeled kitchen or bathroom. Prioritize condos with lower costs of renovations.
2. Use Hardwood Floors
Hardwood floors appear on top of the list of the features that buyers consider when buying a residential property. The floors eliminate the need for carpets, which are expensive to buy and maintain.
Chances are that you will buy a condo with a different type of flooring. Invest part of your resources in hardwood flooring. Some sellers opt to laminate instead of incurring the cost of hardwood floors. The truth is that buyers can quickly spot cheap floors even before inspecting other parts of the house. Go the extra mile and change all the floors where possible. Your condos will always stand out to buyers even when some features or designs are outdated.
3. Invest in Proper Lighting
The lighting in all the rooms is another top consideration for buyers when comparing condos for sale. No one wants to live in a dull condo, especially when they have so many other options in the market, and proper lighting can dramatically change the look of any room.
You may find condos in a good condition that can give you high profits but with small windows. The location of the windows may also make some rooms appear dull. If you find out that you’ll need many light fixtures to light up a condo, consider investing in floor lamps or wall-mounted lights. Having lampshades everywhere will make the condo appear congested and cheap.
If you want to make high profits out of flipping condos, think about the features that buyers consider when choosing a house. The lighting, flooring, bathrooms, plumbing, and kitchens come on top of the list. Invest in these areas and use modern designs when remodeling each condo. Use the same features to pick the right condos to buy and resell.
Popular Articles
Three Places to Spend Money on the Exterior of Your Home
When you have the exterior of your home remodeled, you are investing, time, energy and convenience into the project and you want to make sure that...
94868 Views
Homemade Headboards-Make an Upholstered or Wooden Headboard
Homemade headboards can add a lot of personality to any bedroom. They can be coordinated with existing furniture and room decor or they can be the...
74270 Views
When to Use a Brush, Roller or Sponge Brush
Brushes are a good choice for painting trim and woodwork. They are also useful for cutting in the edges around the top and bottom edges and corners...
71738 Views
Creating a Cottage Kitchen with Bead Board
Kitchen decor can range from modern and bold to elegant and elaborate by using strategic kitchen pieces. One of the most popular decorating trends...
52716 Views
Gas Fireplace Diagnostics and Troubleshooting
Follow these steps for diagnosing and troubleshooting Gas Fireplaces repairs. For the average DIYer, this may seem intimidating, depending on the...
30570 Views
Latest Articles
10 Concrete Patio Ideas on a Budget
A concrete patio can be a game-changer for your outdoor space. It is durable, versatile, and can be customized to fit your style. But what if you...
on Mar 25, 2025
Tips for Creating a Stunning Personalized Photo on Canvas
Order the unique beauty of a personalized photo on canvas and bring your memories to life. With a customized photo on canvas, you can transform...
on Mar 7, 2025
Best Areas to Buy Property in Singapore for Long-Term Growth
Singapore's real estate market remains one of the most stable and lucrative in the world. With limited land supply, strong governmental...
on Feb 18, 2025
Troubleshooting Excess Water in Your HVAC Secondary Condensate Drain Pan
When maintaining your air conditioning system, it is easy to overlook the condensate drain pan - until excess water starts pooling in places where...
on Jan 12, 2025
Real Estate Investment Trusts (REITs): A Beginners Guide
By combining the advantages of stock market and real estate investing, Real Estate Investment Trusts, or REITs, offer an alluring investment...
on Dec 19, 2024
Featured Articles
What Type of Licensed Contractor Should You Hire?
on Feb 28, 2017
Hire Contractors / Estimates

Looking for a specialty project? There are many types of contractors available for your home improvement needs. Finding the right type of...
Sponsored Articles
Best Areas to Buy Property in Singapore for Long-Term Growth
on Feb 18, 2025
Real Estate / Finance

Singapore's real estate market remains one of the most stable and lucrative in the world. With limited land supply, strong governmental...
Actions
Top Categories
- Garden / Landscaping / Patio — 264
- Kitchen / Bathrooms — 240
- Real Estate / Finance — 203
- Appliance / Repair — 186
- Interior Design / Decor — 184
- HVAC / Air Conditioning — 148
- Cleaning / Maintenance — 144
- Improvements / Remodeling — 131
- Plumbing / Basements — 118
- Floors / Tile / Hardwood — 116
- Doors / Garages — 113
- Safety / Security — 113
Articles Archive
More DIY Articles
Thinking About Remodeling Your Pool?
If your outdoor space is looking a bit shabby, perhaps your pool is to blame. Even if you have beautiful landscaping and attractive home, a dated...
How Expert Carport Entryway Repair Can Keep Your Home Safe
Among the numerous ways we attempt to ensure our homes and keep it protected, one path is to keep the carport safe. Yes, the vast majority of us...
Maintaining Your Hot Tubs
No one wants to use dirty or non-maintained hot tubs. Whether it is in your home or at the Spa, you want to soak in something that looks and smells...
Choosing a French Door Refrigerator
If you are looking for a new refrigerator, you might consider French door refrigerators. Unlike a traditional refrigerator, which has a freezer on...
The Storage Shed You Build Yourself
The marketplace is full of prefab and prebuilt storage sheds. Some companies with come to your property and build a shed on-site in a variety of...