Optimise Accountants -

Flipping properties? What are buyers looking for?

July 2, 2013

Posted by Simon Misiewicz on 2nd July 2013

Are you looking to buy and sell properties?

Would you like to know what people are looking for when buying properties?

Like many investors we too look to buy and sell properties.

Why is flipping a good idea?

  • Quick circulation of cash
  • Greater profits in the short term

Flipping can be very profitable if there is an upturn in the market and therefore able to sell the property at a much greater prove than you bought it for.

So, what are buyers looking for?

with the design of the property you are refurbishing to make sure that the property will be sold, because you are meeting the needs of the buyer.

  • For new home owners having a finished, clean looking and low maintenance is ideal.

Why?

Think about it this way.

The amount of money that new home owners are having to invest is substantial so having a property with no maintenance work allows them to buy bigger properties.

  • A good ratio of bathrooms to bedrooms is 3 to 1. If you have a four bedroom house it is a good idea to have an ensuite at least or a downstairs bathroom (1).
  • The kitchen is a vital part of any property. Make sure that it is clean, clutter free and smells beautiful (2). 
  • Off road parking is a great way to sell a property because of the security and ease of parking.
  • The property from the outside should be clean.

    Where do you think the first impression will be?

    People will look at the building before they walk in so make sure that it is clean and tidy (2). 

  • Ensure your property has a floor plan to show people where each room is and the sizes of each would be even better (3).
  • Make sure that there is suitable storage space for people to hide their “Junk” and special items.
    The greater number of storage spaces provides buyers with a vision that all their worldly belongings can be put in a safe location away from sight (4).
    Belongings of male’s will still find their way into the nearest bin (or is that just in my house).

Here are some considerations you should take into account when flipping properties:

  • Using limited companies to trade properties, if you are selling multiple houses. 
  • Impact on personal tax and business tax 40% V 20%.
  • Ability to reclaim VAT ion refurbishment. 
  • Selling properties back to another limited company without VAT.
  • If you are looking for an accountant or thinking of changing your current accountant because they do not understand property investing and tax implications then please Click Here To Book an “Initial Free Consultation”.

    Download our FREE Property Investors Guide, Call Us on 0115 946 1991, To Email Click Here, Follow Us on Facebook or Tweet Simon Here

    Please ensure that you check out our latest webinars and courses Property Accounting & Investment Webinars

    References:

    (1) Selling Prime Property: Know What Counts

    (2) First Impressions Count, Especially In Your Home!

    (3) Maximise The Chances Of Finding A Buyer With A Floorplan

    (4) How Much Is Your Property Worth?



    Get your FREE ebook "Property Investors Guide"
    Enter your information to recieve the eBook

    First Name:*
    Last Name:*
    Lead Source:*
    Email:*
    Phone:*

    Telephone: 0115 939 4606
    Email: simon@optimiseaccountants.co.uk