If you like house flipping shows on Netflix, you'll love this article: Euro Weekly News spoke to some of the best real estate agents on the Costa del Sol to get the inside scoop on house flipping on the Costa del Sol, and we'll go into detail on a range of topics, including the best areas and types of properties to resell and the approximate profit you can make from this type of property investment.
House flipping is more than just a business for some: it's a true passion that transforms old, neglected properties into vibrant homes. For real estate agents on the Costa del Sol, the joy lies in seeing once dismal and neglected apartments and villas come to life again and find new owners who are 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 for house resale in the Costa del Sol?
In the world of Costa del Sol house resale, Marbella is a star, with upmarket locations such as Puente Romano, Puerto Banús, Sierra Blanca and Naguelles offering luxury apartments and villas that attract those with big budgets.
For those on a smaller budget, areas of Marbella such as Elviria and Las Chiapas offer properties with beautiful grounds and gardens, and there are many old villas waiting to be redeveloped.
Beyond Marbella, Fuengirola city centre amazes with its resale potential, offering a range of amenities and a beach-centric lifestyle for those looking for easy-to-maintain holiday apartments. Villas in Torrequebrada, Torremuerre (Benalmádena), Sierrezuela and Campo Mijas (Mijas) offer attractive resale options with spacious grounds and stunning views.
Image: Renovation by Asunto del Sol
Tip: Find a reputable contractor and get a thorough contract. A good construction contractor is key to keeping your project on schedule.
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: Renovation by Asunto del Sol
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 mean big profits, especially in popular areas like Marbella.
Creative Expression: Flipping a home allows for creative expression in design and decor, transforming a neglected property into a work 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.
Image: Renovation by Asunto del Sol
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.
Recommendation: Asunto del Sol
Founded nine years ago, Asunto del Sol has become an outstanding example of real estate specialising in the beautiful Costa del Sol region of southern Spain. Led by the visionary Hanna and her dedicated team, the agency has earned a reputation for turning dreams into reality and helping clients find their dream home in the sun.
With a focus on popular areas such as Marbella, Mijas, Benalmadena and Fuengirola, Asunto del Sol guides customers through every step of the buying process: from obtaining an NIE number to opening a Spanish bank account and securing insurance, the team ensures a seamless and stress-free experience for customers.
Asunto del Sol values quality over quantity and caters to serious investors looking for larger properties, particularly villas on the Costa del Sol. Hanna prides herself on personally overseeing every sale, ensuring transparency, meticulous planning and the utmost customer satisfaction.
What sets Asunto del Sol apart is our unparalleled commitment to customer service and focus on quality properties. The team has extensive knowledge of the best areas of the Costa del Sol, giving them a unique perspective on the potential of each property. Our passion for house flipping adds a unique touch, and we enjoy transforming old, neglected properties into vibrant, attractive homes.
For the team at Asunto del Sol, the joy is witnessing the revitalization of properties and pairing them with delighted new owners. Their commitment to breathing new life into these spaces while preserving the charm of old Costa del Sol is evident in every transaction. Asunto del Sol doesn't just sell properties, they foster a sense of community and an appreciation for the rich history and potential of each home in this incredible neighborhood.
Hannah and the team look forward to getting in touch and discussing your Costa del Sol real estate needs.
Website: Click here
Phone: +34 611 201 408 / +358 440 801 122
Email: hanna@asuntodelsol.com
Facebook: Click here
Instagram: http://Www.instagram.com/asuntodelsol_realestate
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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: Renovation by Asunto del Sol
Is reselling a house profitable?
The average return on investment in Costa del Sol house flipping is around 30%, ranging from 20% to 50%. Reaching the higher end of this range requires dedication, time, creativity, significant investment and a deep understanding of the market. Successful agents have achieved an astounding return of 60%, a testament to their expertise in identifying what will sell. Understanding buyer preferences is key to avoid failure. Ultimately, the key to success lies in a combination of skill, dedication and a keen understanding of market trends.
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 del Sol 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.
Image: Renovation by Asunto del Sol
For a handy area guide and map of the Costa de Sol, click here.
If you found this article useful, be sure to check out our other tips for living in Spain:
For more Costa del Sol news, check out the Euro Weekly News Costa del Sol edition, click here
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