Flippin’ Houses in Australia: Renovating a Property for Better Profit

Residential real estate is popular among investors and business-minded individuals for different reasons. Those who want predictable and higher returns choose to invest in real estate than in other industries. One of the popular and exciting practices in real estate today is flipping houses. It is famous among investors who want higher and faster returns without spending too much on capital.

What is Flipping

Flipping means buying an income-generating asset and reselling it as soon as possible for profit. While you can do this with any type of asset, flipping mostly refers to initial public offering and real estate. To flip a house is to redevelop a property. Those engaged in this activity buy a run-down house priced lower than other properties on the market. The buyers redevelop the property and then sell it at a higher price for profit. Others see flipping as a tactical strategy for real estate rather than long-term plan. Many people like flipping, as it gives them faster ROI and profit in the shortest time possible – provided they are good at redeveloping a home and finding a buyer for the newly improved property

How to Flip a House

Renovating a Property

Image courtesy of Woneffe, Flickr.

Recognizing a promising property, despite its current state, is one of the most important characteristics you should have when deciding to flip houses. Some properties only need minor repairs, while there are those that are beyond saving.

An ideal property for flipping is one that only needs cosmetic or minor repairs. Steer away from homes that need major repairs, as these are often money pits. A good property is also one that sits on a neighbourhood with perfectly maintained houses. Once you’ve turned this ugly duckling into a swan, many will be interested in buying the property, as it is in a neighbourhood with beautiful homes.

Cosmetic Repairs

Having a few sets of construction and repair skills can help you reduce your capital, flip the property and sell it faster. Of course, you can always hire the services of a tradesman to help you redevelop a home. Cosmetic repair ranges from polishing up the yard to simple paintjobs and installing different fixtures around the house.

Landscaping Makeovers

When flipping a home, don’t forget the exteriors. The front yard is going to be the first thing buyers will see. Make sure it is as impressive as the home interiors. Check for cracks on the driveway and walkway. Fill them up when necessary. Trim the bushes and trees. You may also like to plant some beautiful flowers on the front yard to give the exterior of the property and fresh and colourful look.

Exterior Facelifts

Go around the perimeter of the property and look for things that stick out like a sore thumb. You’d want to replace, repair or remove anything that is unsightly. Most rundown houses often need to have a fresh coat of paint. You should also paint threshold and doors. Check the windows, screens, storm doors, mailbox and light fixtures. Depending on the condition of the house, and the new look you want it to have, you may need to replace these things. Don’t forget to take a quick look at the gutters. Chances are, you may need to repair and repaint them too.

Interior Makeover

When redesigning, choose neutral colours for the interiors. Warm or cool tones are relaxing to the eyes. You can also go for bold colours, but only a few will appreciate an orange or red wall for the living room. Remember, you want to sell the house as soon as you can, this means trying to appeal to most homebuyers.  Choosing between a carpet and wood flooring is tricky but you can never go wrong with a new one. Strip off that old wall-to-wall carpet and replace it with a new one or switch to a beautiful wood floor.

Bathroom and Kitchen Brush Ups

Storage is important, especially in the kitchen. If the house has a small kitchen, maximize the wall and install cabinets. Consider replacing out-of-date, and damaged countertops. Throwing in a new stainless steel sink and faucet is also a great addition to a beautiful kitchen. Most tradesmen in Australia can help you fix plumbing problems in the kitchen.

Give the bathroom a fresh look by installing a new toilet seat, vanity, shower, and faucet. Don’t forget to get rid of mildew and other stains.

Flipping a house is exciting. To help you succeed, contact a tradesman in Australia who can help you give an old house a makeover so you can earn better profit.


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A short guide to real estate agent fees

Selling a home can be a stressful business, and it’s not always easy to figure out what constitutes reasonable real estate agent fees.

Real estate agent commission and fees Real estate agent commission and fees

Most estate agents operate on a commission basis. This means that you should not need to pay anything upfront to have an agent sell your property – the agent, like you, only gets paid once the sale is successful. If the realtor asks for a fee upfront, it would probably be best to steer clear of them.

It bears repeating – no reputable estate agent will ask you to pay them before the sale has succeeded.

What kind of commission should you expect to pay?

While real estate agent fees in Australia can differ from place to place, there are averages across regions. Tasmania’s 3.26% is the highest commission average, while South Australia’s 2.07% is the national low. The average real estate agent commission is in the vicinity of 2.22%.

Estate agents can set their own commissions, however, so an in-demand realtor with a very good track record may ask for a higher commission than one who is just starting out. The choice whether to pay the higher commission is always up to you.

You should research the agent before letting them list your property. You should also research property values in your area, to make sure that the price you are asking is reasonable for the area and the type of property you want to sell.

Don’t be afraid to shop around – it’s up to you to find the best combination of commission price and performance for you.

Flat Commission vs Fixed Rate vs Tiered Percentage

A flat commission means that your real estate commission will always be a set percentage of the sale price. Some people believe that this does not sufficiently motivate agents to seek the best possible prices, while others believe that a flat commission is the best option for all parties.

A fixed rate encourages quick sales, so if that’s what is important to you it’s a good option. It does take away some motivation for the agent to obtain you a better sale price, however, since their fee will not change if they get you a better deal.

A tiered commission means that the agent will receive a higher fee (as in, a higher commission percentage) if they sell your property for a higher price. While this means that you won’t have the control over the agent fees that you do with the fixed rate option, it does mean that the agent will be very motivated to get you the best price possible in order to improve their commission.

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Bedrooms on a Budget: How to Give Your Personal Space a Makeover without Spending a Fortune

Nothing beats the feeling of going home after a long day at work and relaxing in your beautiful bedroom. Your anticipation for a peaceful evening, however, could easily be ruined if your personal living space has seen better days and isn’t very relaxing. If you’re having difficulty resting in your bedroom, it might be time to turn it around and improve it.

Budget Makeovers

You don’t have to spend a fortune for a bedroom makeover.  The key to improving your room is knowing how to maximize what you already have so you only spend for what you really need.

When renovating your room, you have to make sure that furniture and your decorations match. Having a theme can make your life easier and cut renovation time by half. This way, you are only focused on a single look for things you’re going to get for your room. If you want a room with a traditional feel, choose wood furniture. For a modern, chic style, consider beds with metal frames in unconventional shapes. Remember, your bed is the focal point of the room. How it looks like will dictate how the rest of the room should also look.

Go for Relaxing Colours

The colours you use for the room set your mood. Using bold colours, such as bright red and hot pink, can stimulate your senses and make it difficult for you to relax. Choose subdued colour combinations such as pastel, and earth tones.     

Use Accent Pieces and Furniture

Your bedroom is that one part of that house where you can freely show your personality. You can do this by choosing accent pieces that match your style. For a more personalized feel, you can even hire a tradesman to build unique furniture or accent pieces for the room. This way, you won’t waste time looking for accessories. You just have to inform the tradesman of your preferences and he will build the furniture pieces for you.


Clutter can easily tire you out. Consider storage when renovating a bedroom. Is the space big enough for a walk in closet? Do you need dressers and armoires? If so, make sure your furniture pieces complement or match each other.

From Drab to Stylish

Bedroom Makeover
It’s easy to bring life to your bedroom. You can start with accessories o accent pieces you can do by yourselves. Pillows and headboards are easy to customize. In fact, you won’t even need to hire anyone to do this for you, unless of course, you’re interested in getting your hands dirty. In which case, you can hire a tradesman to do the job for you. Turn your plain headboard to a beautiful one by painting dainty patterns. Checkereds, florals, and stripes are popular patterns you may use for your headboard.

Turn your dream bedroom to reality without burning a hole in your pocket. Pick your theme, decide on a layout and consult a few tradesmen. This way, you can find the perfect service provider that gives the best value for your money.

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There’s a Better Way to Cook: Remodeling Your Kitchen

The kitchen is one of the most important areas of a house. Gone are the days when it is only used for preparing food. Today, families gather around the kitchen, over boiling pots of delicious meals and sizzling dishes to spend time with each other. Is your kitchen stuck with the 70’s look? It may be time to remodel it. Here are some tips to turning your kitchen from old fashioned to modern.

Visualize, Research, and Plan
KitchenBefore you tear your kitchen down, make sure you’ve thought of exactly how you want the room to look like. Consider your floor area and common activities that take place in your kitchen. This will help you determine where to place the range, sink, island, and the breakfast table. In addition, taking time to plan will avoid an outcome that looks like you’ve haphazardly picked different styles and put them together in one room. There’s nothing wrong with putting styles together but it is important to work on a theme. Do you want a modern, contemporary, or minimalistic kitchen? Following a theme also helps you determine that kind of materials you need for the renovation.

Find a Reliable Crew

Even if you’re doing this as a DIY project, you’d need the help of professionals, especially when it comes to plumbing and electrical concerns. To make sure you’re getting the right crew, ask referrals from families and friends. Most often than not, they have a trusty tradesman they call for help. If you can’t get any referrals, you can visit stores, showrooms, and exhibit. This way, you get a firsthand look of the quality of work a service provider offers. Visiting shops also gives you the chance to consult different professionals and see which of them offers a plan that suits you. This is especially helpful if you’re not renovating the kitchen on your own and needs a crew to get the job done for you.

Before you decide on a crew or a tradesman, look for requirements such as certifications/ licenses, and insurance. If you’re looking for someone to do the electrical wirings of your kitchen, make sure the service provider has certificate of compliance and is a Registered Electrical Contractor (R.E.C.). This way, you can be confident that a qualified provider is doing the job for you.

Schematic Design and Storage

The perfect design for a kitchen increases efficiency and maximizes space. Avoid running around the kitchen when preparing food by grouping things according to function. For instance, you can have one area of the kitchen for cooking, where you’ll find the range, microwave, toaster, and other appliances. Have another area for food preparation where you can put the knives, chopping block, and other similar items. Storage is also important. If you have limited space, maximize your walls by installing stylish stackable cabinets.

Make the kitchen the heart of your home. Turn it into an area where you can comfortably entertain guests and prepare food at the same time. Contact a reliable tradesman to help you build your dream kitchen.     

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