Why is Sioux Falls the Best Place to Flip a House?
This isn't the first time, Sioux Falls has been given this title. It has been among the top cities for this job/hobby for some time.
Back in 2016 Sioux Falls was also named the best city in the U.S. to "buy, sell, or flip" a house. Remodeling costs were low and housing turnover rates were high.
Now lumber prices are high and housing turnover is not only low, but it's also what some people waiting to buy a first home might call, non-existent!
Nevertheless, Wallet Hub those survey-taking, number-crunching, eggheads, have rounded up the latest data about flipping houses, and indeed the best place to do it, is once again, Sioux Falls.
How did they come to this conclusion in our "hoping to be post-pandemic soon" world? Well, they compared 170 cities across the country in three basic categories, A) Market Potential, B) Costs, and C) Quality of Life.
Within those categories, there were twenty-six indicators they examined. Some of these included, the purchase price of homes in the city, the infamous ROI (return on investment) you hear so much about, the number of real estate agents, and real estate taxes.
The cost category considered construction workers' salaries and remodeling costs for kitchens, bathrooms, and whole homes.
Finally in the "Quality of Life" category, which is where Sioux Falls really shines, they took into account, school and park systems, crime and unemployment rates, salaries, and more.
So if you're thinking about a new career or a part-time career in house-flipping, even with this positive rating, caution is strongly recommended.
Get more information and see the complete study at Wallet Hub.
Source: Wallet Hub
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