When buying a property with the intention of flipping it, it’s important to consider whether the renovations you’re making are worthwhile. As such, here is the ultimate guide on how to spot a property with potential to add value.

Is the property in a desirable location?

Location is one of the most important factors to consider when it comes to determining the value of a property. Sometimes a property with potential is ‘the worst house on the best street’. This is why location is key, as you can’t change a home’s surroundings, but you can certainly improve the home itself.

Does the property offer space for conversion? 

A decent-sized loft or basement is something that you should keep an eye out for. These empty spaces offer the opportunity to add another bedroom, bathroom, or living area, making the property more spacious and, in turn, more attractive to buyers when it comes to selling in the future. 

Can the layout be improved with minor change? 

Try not to dismiss properties that are very segmented in their layout. Often, homes with separate rooms can easily be transformed into an open-plan layout. Keep a close eye out for properties where there is a small kitchen next to a large dining room that could be knocked through or a bathroom next to the main bedroom that could be transformed into an ensuite. 

Does the property have the potential to improve its EPC rating? 

It’s important to not disregard properties that currently have a low EPC rating. There are many ways you can increase an EPC rating by installing insulation, double or triple-glazed windows, a new heating system, energy-efficient bulbs, and many more. Selling the property in the future with a bad EPC rating will affect the value to potential buyers, so enhancing energy efficiency is a worthwhile investment.

Can all the property’s negatives be fixed?

When viewing a fixer-upper, you need to identify all the negatives so you can understand how simple it would be to solve them. You can provide the property with new windows and a paint job, but you can’t move the property away from a noisy main road. By having this in-depth screening of the property’s negatives, you can identify what changes you can approach efficiently.

How an agent can help

It can often seem that properties with clear project potential are hard to come by, but by enlisting the support of an expert agent, they can help you find the perfect fixer upper. As well as finding your dream home with potential, we can also support the sale of your current home, creating ease throughout your entire property journey.

Are you interested in speeding up your home’s sale while achieving a better selling price? Home staging could sell your home 3 times faster while adding 10% to its sale price.* There are many ways to move your home sale forward. Let's examine why home staging is a worthwhile endeavour, with a few tips to ensure its success. 

What is home staging? 

Home staging is all about presenting your home in its best possible light. This will attract more buyers and create those all-important excellent first impressions. Whether you hire a professional, consult your agent, or do it yourself, home staging makes each room of your home more desirable. Done correctly, photographs, 3D tours, and face-to-face viewings will create a real emotional connection with your potential buyers. 

How do I stage my home?

Decluttering rooms and arranging furniture in spacious layouts will allow your home’s rooms to appear fresh and clean. Refreshing the paintwork and repairing minor blemishes will help you achieve this. Once you complete these tasks, incorporate details like scented candles and flowers. Dressing bedrooms with crease-free linen and cushions, or the dining room with nice tableware, will set the scene. 

First impressions can be moving 

As soon as your potential buyers see your property, they start to make up their minds. Kerb appeal is vital, and creating this is relatively straight forward. A weed-free path, a well-presented front door, clean windows, neatly trimmed lawns, and tidy guttering are all cost-effective ways of helping buyers get that ‘love at first sight’ feeling. But don't stop there; create it as best you can throughout your home.

Flaunt your home’s features  

Following these tips allows your potential viewers to easily imagine living in your home. It’s important to make this happen effortlessly. Hiding your home’s features and asking your potential buyers to navigate their way through clutter or your personal belongings will not show your home in its best light. An attractive home attracts buyers, and if your home is ready to welcome new owners, it will reduce their stress levels. 

Low-cost with potentially high gains 

Home staging could achieve a staggering 586% ROI.** So spending a few hundred pounds on staging your home correctly could potentially lead to making thousands of pounds worth of gains. Spending a bit of time staging your home could more than likely reduce your selling time. So, the sooner you start, the better. A good first step is to create a to-do list that will break down the task of staging your home into manageable chunks.

As autumn sets in and the end of the year approaches, landlords across the UK are gearing up to fill their rental properties before the holiday season arrives. Finding a tenant before December can present some unique challenges, so here’s a comprehensive guide to help you secure a tenant quickly and efficiently.

Prepare your property

First impressions count, so make sure your property is in top condition to attract potential tenants. Spend some time on necessary repairs, touch-ups, and deep cleaning. Additionally, you could consider enhancing kerb appeal with some eye-catching seasonal decorations or a welcoming wreath on the front door.

Set an attractive rent

An agent can help you set an attractive rent by researching current market rates in your area to establish a competitive rental price. While maximising profit is important, pricing too high can deter potential tenants. Be realistic and consider offering incentives such as utilities included or a reduced first month's rent to attract quality applicants.

Utilise online listings

A letting agent can utilise their online presence and take advantage of various online platforms to advertise your property. They will use high-quality photos and detailed descriptions to grab the attention of their network of potential tenants. 

Screen applicants thoroughly

Once inquiries start coming in, applicants should be screened rigorously. A letting agent can handle the process for you by requesting references from previous landlords and conducting employment verification and credit checks. This ensures that potential tenants meet your criteria for reliability and financial stability.

Offer flexible terms

Consider offering flexible agreement terms to attract a wider range of tenants. Short-term tenancy agreements or month-to-month options can appeal to tenants seeking temporary accommodation or unsure of their long-term plans.

Provide excellent customer service

Respond promptly to inquiries and maintain clear communication throughout the application process. A positive landlord-tenant relationship often begins with a smooth and professional interaction. Opting for a fully managed package means your tenants are taken care of by professionals from the offset, which can be an invaluable service if you operate on a busy schedule.

Stay informed about legal requirements

Ensure you comply with all legal requirements and regulations regarding rental properties in your area. Stay updated on tenant rights, eviction procedures, and safety standards to avoid potential legal issues.

Enlist the help of a letting agent

If managing the rental process becomes overwhelming, consider hiring a letting agent to help you with all aspects of property management. They can handle marketing, tenant screening, tenancy agreements, and ongoing management tasks on your behalf.