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How to Buy a Flipped House

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Flipping A HouseWhen you are buying a flipped house, you might make the mistake of thinking that the home is actually new. While there may be a lot of new construction on that property, it is not actually a new home. Much of the framing is original, and unless, during the renovation, the electrics and plumbing were all replaced, it might still have the old wiring and pipes. Don’t fall into the trap of thinking that a flipped house means a new house. Here are some tips for making sure you aren’t duped:

 

  • Look at the little things. The details are going to give away how well the house was renovated. Your real estate agent will likely point out the new appliances and fixtures, but there are other things that you need to be worried about if you really want to enjoy your time in those house. For example, look at your switch plates. Are they flush to the wall? Are they level? Are there gaps between the countertop and the wall? Are there gaps in the bathroom tile? Do the cabinets close tightly? Any of these are signs of a sloppy or hastily done job.

 

  • Have the house inspected. A newly renovated home is not a new home. You are going to want to get the house inspected before you make any decisions about it. Was the renovation done according to code? Were corners cut? Were there issues with the foundation or framing of the home that were not rectified by the renovation? Only an inspector can tell you.

 

  • Make sure the construction was done properly. Before making an offer on that home, you should take care to ensure that the construction was done only with the right permits, which were properly signed off. You might be presented with copies of the work documentation when you decide to buy, but if you are not, do not be afraid to ask to look at them.

 

  • Find out about the flipper’s history. Do they have a good history of flipping houses? Or do they often buy run down houses, slap a new coat of paint on them, and sell them at a huge profit? You only want to buy a house from a flipper that really takes the time and puts in the effort to make the renovation great.

 

 

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