Flip or Flop. Why Hgh-End Flips Will Make You More Money.
In this market, the question of whether you should aim low and bring up the fixer upper or aim high and sell the high-end flip is always asked. Well luckily for you, the team at Lavish has finally come up with the answer, and it might just surprise you. As much as we love our low-end flips, if you are looking to make money on your flip, you need to invest in the high-end. Here are a few reasons why high-end flips will make you more money.
Location location location
It seems like a simple statement, but the truth is the better the location, the more you will get for your flip. A great location means that you will be able to sell to parents who are looking to get their child in a certain school, or limit potential buyers commute to work. Plus, the neighbourhood that the house is it will go a long way in dictating the price of a home, and naturally, high-end flips will normally be in high-end neighbourhoods.
The Devil is in the Details
When looking at high-end vs low-end flipping options, the devil is really in the details. High-end homes will often only need a few fixes around the house, but a low-end option might need major repairs throughout the home. As well, typically, higher-end homes are taken care of over their lifespan, and flippers will be able to get it back on the market in a fraction of the time of a true fixer upper.
Design Ascetics will help you sell
If you have ever been in a high-end home, you might notice the little design ascetics that help bring it together. It might be the designer baseboards or the fact that the design has ensured the entire house has a certain flow. As well, many of these homes have actual hardwood floors and granite countertops that buyers will fall in love with. These kinds of details will help flippers move a house off the market and no time, and something that other lower cost options will not have.
Signature Elements that will move the house
High-end homes are often known for their signature elements, and this is part of the reason why many high-end flips are able to move so quickly. It could be an in-ground pool, an amazing chandelier or something as simple as an open concept main floor, but the one thing that all high-end flips are a signature element. This element will help flippers move the house quickly, and allow potential buyers to know exactly why this house is the perfect home for them and their family.
If you are looking to get into house flipping for the money, the ideal range is to look for high-end flips. With the right location, the right details, amazing design ascetics and a signature element, your flip will be off the market in just a few days. Have you been flipping homes? What is your favourite part of high-end flips? Share your favourite part below!
Lavish Design Build, one of Canada’s leading design is a devoted and committed design and development partner . Our long-term commitment to the spaces and environments we create and our focus on making spaces more efficient, sustainable and inviting sets us apart. Aside from setting efficiency and quality industry standards; our efforts to increase development profitability is one of the many reasons we continue to grow.
Contact us at the Lavish Design Build to get started today. We are here to help you every step of the way.
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