House flipping the FortuneBuilders way, is becoming more and more popular with the housing market the way that it is today. Some people like Than Merrill have in mind specifically what they are looking for, and do not want to buy a fixer upper, that will need to be remodeled, before a person or a family can move into it. For those who are in the house flipping business, they can even take the smaller one and two bedroom homes and fix them up and sell them at a reasonable price so that those who are on a low budget, or maybe even a very fixed tight income might have a chance at owning a newly remodeled house instead of having to be on a list for low income housing that has been lived in by family after family with very little if any modifications or renovations done to it.
If a house flipper goes into a neighborhood that has been run down for a variety of reasons, they might see several houses on the same block that are on the market and they have potential to be great homes once they have been fixed up. If the house flipper has the financing, and the man power to do so, they might take on multiple projects in the same neighborhood with the intention of improving the neighborhood to make it more appealing to potential home owners and less appealing for those who just want to come in and trash the neighborhood.
Housing code requirements are changing constantly as to what is required to be in a home before it can be sold to its next owner. If the current owner has the money, and takes the time to have these requirements done, it will really help out the future owner or owners of the house if they can’t afford to do to the required modifications themselves. Sometimes, if a house is being used as a rental, the home owner might have insurance on the house to protect their investment. The insurance company might require things like working smoke detectors, a sprinkler system installed in the house in case of fire, and maybe even an alarm system to deter people from breaking into the house.
When a family moves into a new town or neighborhood, they might want to look at a few factors especially if they have children. They will want to look at the school district and make sure that the schools have good ratings to ensure that their child or children will receive the best education possible. Also, they might want to look at their local criminal registry to find out about crime in their neighborhood and who might be living in their neighborhood that could potentially be a threat to their children if their children were left home alone, or they were allowed to walk to school or to their local playground without adult supervision. These are all safety precautions that should be taken when moving into a new location, that not all families think about and consider when moving.
These are just a few of the things to consider and keep in mind when you are on your hunt for real estate whether you are looking at it for yourself or if you are considering it as some kind of investment opportunity.