PART 1
OF A FIVE-PART SPECIAL SERIES ABOUT HOUSE FLIPPING
Have you ever been tempted to put your DIY skills and talent for interior decorating to good use and flip a house? Is it really money for nothing, or is it a lot harder than it appears? Our five-part series starts here. Over the next five months we find out about investing in the right house, the top priorities, the finishing touches and how to market it. This month we look at the advantages to house flipping and how to finance it.
Well, it is, and people are taking these projects on. So far this year, across New Zealand, 0.9 percent of sales made were held for less than six months. In 2022 it was 1.0 percent, while in 2021, it was 1.8 percent. Those who made a profit in the first quarter of 2023 had a median gain of $305,000.
While this quick profit might sound easy, there is no guarantee of this, and there’s more to a successful house flip than you may realise.
Why consider a house flip?
Whether you already own a home but want to
