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If you flip houses for a living, you may get to work right now. With rising prices and low inventory, people are starting to purchase real estate earlier than ever. Instead of waiting until April to purchase homes, more and more buyers have been applying for mortgages as early as January.

What 2020 Will Bring for Homebuyers

Millennials are suspected to purchase 50% of all homes this year. With the rising costs of real estate in urban areas, many millennials are looking for more affordable options in suburban environments. They’re especially looking in affordable cities in Texas, Arizona, and Nevada.

Single-family construction is also expected to increase this year. However, it still won’t relieve the supply issue by much. Homebuilders have begun rebuilding their businesses after the housing crash and are experiencing a slow recovery.

With 2020 bringing an increase in wages, people are more willing to buy their first home. The supply of entry-level homes, however, is low. Over the years, investors transformed distressed properties into rentals due to the foreclosure crisis

How Home Flippers Can Benefit

real estateIf you want to flip houses this year, it’s time to start buying property right now. Prices are currently low, and the supply will continue to decrease. If you buy a property now, flip it, and put it on the market during the spring, you can expect a sizable profit.

Because more millennials are buying homes, it’s important to keep their preferences in mind when flipping houses. Many millennials favor homes that feature three to four bedrooms that are easily adaptable for their changing lives. For example, they may want to turn one of the rooms into a workout area or a playroom for their future kids.

Millennials also appreciate smart-home and energy-efficient technology. Installing LED lighting, solar panels, or heated flooring can help you sell your house with ease.

 

If you’re interested in buying real estate, turn to the professionals at Guru Management, LLC in Houston, TX. This real estate consulting firm specializes in guiding their clients through the house flipping and property management process. They’re up-to-date with the latest trends in the market and will make sure you receive the biggest bang for your buck. They’re happy to listen to your goals and connect you with local contractors to complete your renovations. For more information about their services, call (713) 447-2552 or visit their website.

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