We have all
watched the experts on television who are renovating old houses and making huge
amounts of money, so it must be true! If only life were that simple, we
would all be carrying out attic conversions, kitchen extensions and general
property renovation. But I'm sure that most of us have the common sense to
appreciate that to make money renovating property you need to treat it as a
business.
First, you have to
apply strict criteria to ensure that you buy at the right price in the right
location and you can add value to the property, quite often adding kitchen
extensions could make all the difference. Once you have purchased your
property you need to apply a strict timetable to ensure the works are completed
as soon as possible.
The financials
need to professionally organised and all building extension costs taken into
account, we would recommend that you always apply a 10% contingency sum for any
unexpected works that become apparent when carrying out property renovation.
Another marketing
tool we apply is to fix a sign in the window advertising the property, you
never know your potential tenant/buyer may live locally and you could even do a
deal prior to completion of the property renovation works.
One of our key
recommendations when renovating old houses would be to fit carpets, this we
believe is the icing on the cake, when your prospective client walks in it just
smells right and is well worth the extra cost due to faster completion.
If you are
sufficiently good at this you can make a handsome profit and if you are
like-minded you could even make a career out of it. Renovating old houses are
still available and believe it or believe it not a lot of people are lazy and
are quite happy to pay someone a premium to do the work.
Therefore our
recommendation is to get out there and find your next property renovation,
attic conversion or whatever it is. We have a fabulous opportunity available
due to the current financial climate so we all need to make the most of it
whilst we can.
Looking for a Professional Renovation
Company in Selangor? Call 012-2988560.
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