This can involve buying an older property which is in disrepair and ‘fixing it up’ to the exent it’s sold at a profit to yourself. It can be a lot of work but, for a DIY enthusiast who enjoys such a challenge, also prove extremely rewarding. The key is finding the right property in the first place – and this involves lots of research. A property which has been on the market for a lengthy period already, for instance, can often be purchased at a favourable negotiated price. Another way of finding an excellent renovation property is to befriend estate agents in the locale you’re interested in.
In order to maximise profits your renovation should always be completed with your desired buyer in mind and in line with your proposed budget.
