How to pick a good neighbourhood for a flip?
Picking a good area for a flip is crucial. You want to buy in neighbourhood’s that have the highest price for square footage. We recommend buying the ugliest house in the nicest neighbourhood. You want to make sure you have lots of room to increase the value of the home. When you are finished renovating you don’t want it to be the most expensive house on the street or neighbourhood.
Neighbourhoods that are family friendly can be great because they appeal to people upgrading which is the largest pool of buyers. Which means that good schools are also magnets for buyers. Mature neighbourhoods can be great as well. It is harder to find really renovated homes in a mature neighbourhood. Lots of buyers want the best of both worlds; the large lot with mature trees and the modern interiors of a new build. A flip in one of this area can give the buyer the best of both worlds.
In Guelph and other cities outside of GTA, neighbourhoods that have access to major highways such as the 401 can be a draw to entice those GTA buyers looking for more affordable pricing. Remember picking the right neighbourhood is key!