Do Not Do Everything Yourself

Many television programs, dedicated to the renovation of properties, show their guests doing the remodelling process with their own hands. The truth is that in real life unless you are a builder, it is better to let the professionals take care of the changes in the house.

If you take care of placing the tiles in the bathroom, it will take longer than a bricklayer. And if you do it poorly, it will cost twice as much remodelling. Therefore, it is recommended to find a good builder, and be willing to pay well for quality and efficient work.

Dedicate Time

Even if you leave the remodelling in the hands of professionals, you should spend time supervising the progress of the project.

So if you have a full-time job and a family with small children, you may not have enough hours to take on the management of the project. “You can not do this business with half an hour a week,” says Ferguson.

Choose The Location Intelligently

A cheap house is just an affordable house if nobody wants to live there. Look for properties near an excellent school to attract buyers who have children of school age, or that is close to your own home so you can supervise the remodelling without making long journeys.

“I bought two houses in my neighbourhood that were the most profitable and easy to manage, because after overseeing the remodelling work I could go home and spend time with my children,” Erickson recalls.

Do Not Fall In Love

“Enthusiasm is a good virtue, but make sure it’s not meaningless,” advises Mike Iliff, a professor at the University of Law in the United Kingdom. “Before you buy a house, be it at an auction or because it is in the market, first do a well-thought, rational, emotionless research, never fall in love with a house you are going to buy to remodel it.”