If you like Netflix house flipping shows, you'll love this article: Euro Weekly News spoke to some of the Costa Blanca's best real estate agents to get the inside scoop on house flipping along Spain's sunny coast.
We'll go into detail on topics like the best areas and property types to resell and how much profit you can make from this type of real estate investment.
Flipping houses is more than just a business for some people – it's a true passion transforming old and neglected properties into vibrant homes. For some real estate professionals, the joy is seeing a once-dreary and neglected apartment or villa come to life again and find a new owner who is happy to embrace the charm of a restored property.
Top Tip: Look for affordable options and invest wisely. But be careful. Don't be fooled by low prices alone. Make sure the area meets your standards. This important step will really shape your profitability.
What are the best areas to resell houses on the Costa Blanca?
Alicante is a central player in the Costa Blanca house resale world. It offers the perfect mix of city life and proximity to the beach, with a wide range of properties available, from apartments to villas, a great city infrastructure, close proximity to Alicante Airport and good transport links.
Another good option is Torrevieja, a popular tourist resort town with a large expat community and plenty of amenities. There's a good choice of properties for sale and the beach is one of the best on the Costa Blanca. Property prices tend to be higher here, though.
Javea, Denia and Altea are beautiful old towns with a more relaxed atmosphere, and while property prices here are a little higher than other Costa Blanca resorts, you're still likely to find a bargain, and you might even find an attractive resale option with spacious grounds and great views.
Local real estate agent Ibero Homes also shared some of the hottest locations and areas they recommend for house resale on the Costa Blanca: Rocio del Mar, La Veleta, Las Ramblas, Campoamor Golf, Rio Mar and Orihuela Costa.
Tip: Find a reputable contractor and get a thorough contract. A good construction company is key to keeping your project on schedule.
Image: Shutterstock/Naphat_Jorjee
What are the most popular types of property to resell?
Your property selection plays a key role in your home resale success. For apartments, the ideal candidate would be a unit with a terrace and sea view, ideally facing south and within walking distance of the beach and amenities. If the community also offers parking and a pool, it will be an attractive offer.
In the villa category, properties with pools and ocean views (or open views of the mountains or golf course), privacy and well-manicured gardens, and garages are prominent. A single-storey layout adds curb appeal, making the property more attractive to potential buyers.
Image: Shutterstock/Simon Dannhauer
Tip: Invest thoughtfully in your renovations, considering both style and materials. The ultimate goal is to increase the value of your property and ensure a favorable resale. Discerning buyers don't like hasty or shoddy renovations, so approach your decisions as if the project were for yourself and stick to a tasteful, neutral style that will appeal to a wider range of customers.
What are the benefits of home flipping?
Profit potential: A successful resale can bring in big profits, especially in popular areas like Alicante city.
Creative Expression: Flipping a home allows for creative expression in design and decor, transforming neglected properties into works of art.
Increased property value: Renovations can significantly increase property values, providing a great return on your investment.
Job creation: Home flipping contributes to the local economy by creating jobs for contractors, designers, and other professionals.
Top Tip: Communicate effectively with your real estate agent from the start of the project and value their expertise in identifying market trends and buyer preferences. Choosing an experienced agent is crucial to successfully marketing and selling your property. Choose a reputable agent who has a deep understanding of the market to maximize your resale potential.
Recommended: Ibero Homes
Ibero Homes is a dynamic and professional real estate agency specialized in the Torrevieja and Orihuela Costa regions, with agents strategically located in different countries, offering a wide range of properties including pre-owned homes, new developments, real estate investment products and rental properties. Ibero Homes stands out with its unwavering commitment to excellent service, high conversion rates and ability to drive fast sales.
Ibero Homes offers comprehensive real estate solutions covering diverse geographical areas including La Mata, Torrevieja, Orihuela Costa (Playa Flamenca, La Zenia, Punta Prima, Cabo Roig, Agua Marina, La Reya, Lomas de Cabo Roig, Campoamor, Villamartin, Rocio del Mar, Los Dulces, Los Altos and La Florida).
Ibero Homes boasts a wide property portfolio, featuring new developments, pre-owned homes such as sea view apartments, luxury villas, bungalows and plotted duplexes. The agency caters to both buyers and tenants, offering long term rentals and holiday rentals in Orihuela Costa.
For those looking to sell property in Orihuela Costa or Torrevieja, Ibero Homes is your go-to real estate agency, which offers free property valuations and presents a professional business plan to facilitate a fast property sale.
Ibero Homes leverages its commercial network of national and international agents, including in France, Norway, Belgium and Russia, to effectively connect potential buyers and sellers interested in homes on the Costa Blanca.
Contact Ibero Homes today.
Website: Click here
Email: juanmico@iberohomes.com
Phone:0034 609681505
Office: 0034 965320610
Address: Avenida de las Adelfas 18 Bajo, 03189 Orihuela Costa
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What are the disadvantages of flipping a house?
Financial Risk: Reselling involves significant financial investment and market uncertainty may affect profit margins.
Takes time: Renovations often take longer than expected, which can delay the sale of your property.
Market Fluctuations: The real estate market is unpredictable and can affect demand for resale properties.
Unexpected costs: If unexpected issues arise during renovation, such as structural problems, you may incur additional expenses.
Image: Shutterstock/VAlekStudio
Is reselling a house profitable?
Unfortunately, there is no one-size-fits-all answer to the average rate of return on house flipping on the Costa Blanca: although house flipping can be profitable, it also comes with risks and can be highly dependent on several factors.
Location: As mentioned above, popular tourist locations may offer higher potential profit margins, but they also come with higher purchase prices.
Condition of the property: If you buy a property that needs major renovations, your profits will naturally be reduced.
Renovation costs: It is very important to estimate the renovation costs accurately. Underestimating can result in losses.
Market conditions: If it's a seller's market, you may be able to sell quickly and for a high price. If it's a buyer's market, your home may take longer to sell and you may receive a lower profit.
Your expertise: Your experience in renovations, negotiations and the local market will greatly influence your success.
While there is no clear average rate of return, some sources suggest that the average return on property investment in Spain is around 8%. However, flipping a home offers the chance for a quicker return and higher profits compared to long-term rentals. Working with a reputable real estate agent on the Costa Blanca can help increase the potential of your investment.
Tip: Presenting your property with tasteful furniture not only enhances its visual appeal, but also emphasises that it's move-in ready – a quality that is highly valued by potential buyers, thereby maximising the value of your property.
Want to get started in reselling homes?
Flipping a house on the Costa Blanca requires a strategic and informed approach. Aspirants should first educate themselves on the intricacies of the local real estate market, understanding popular areas, property values and relevant regulations.
It is important to have clear financial goals and assemble a competent team, including real estate agents, contractors and legal advisors. Financial preparation, evaluation of potential properties and creating a detailed budget are the basic steps. Next comes a thorough survey of the target area, property evaluation and renovation planning.
Obtaining the necessary permits and overseeing the renovation process is crucial, followed by working with a real estate professional to effectively market the property.
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