Is Buying A Recently Flipped House A Good Idea?
Flipping homes is a popular practice—and, when done right, buying a flipped home can be a good investment.
But not all flipped homes are created equal—and if you want your home purchase to be a good investment, you need to avoid cheap, poorly done flips.
So how, exactly, do you do that?
A recent article from realtor.com outlined telltale signs of a cheap flip, including:
- No building permits. Without permits, there’s no way to tell whether the work that’s been done to a property is done well and to the proper standards—and is a major red flag that you could be dealing with a cheap, poorly done flip.
- Flooring issues. Another sign of a cheap flip? Flooring issues—like flooring that’s different heights in different areas of the home or refinished hardwoods with bubbling or discoloration.
- Improperly installed windows and/or doors. New doors and windows can add value to a home—but only if they’re installed properly. If you notice that there are issues with closing and/or opening the doors and windows in a home, it could be a sign of a shoddy flip job.
Buying a flipped home that wasn’t properly done can end up costing you significant time, money, and frustration—so when you’re looking at potential homes, make sure to be on the lookout for these signs of a cheap flip.