A flipped home may have caught your eye when you were looking for a new house. As a percentage of total home sales, flipped houses accounted for almost six percent of all sales in 2020. You will likely come across a flipped home in your search, even though it is only a small portion of the total number of homes sold.

Even though flipped houses might sound affordable, they come with a set of benefits and risks. In this article, we'll share some tips and checklists that you must check before buying a flipped house.

Find out what exactly was done 

The first step in buying a flipped house is to find out what renovations were done, then review the property records. The flipper may have used cheap materials and cut corners if the house is still affordable compared to what they bought it for.

You can also determine whether a house is a flip by reviewing property records. The previous owner most likely bought the property to resell it if they owned it for less than a year. The owner may, however, also be trying to offload a lemon on an unsuspecting victim if he rushes his construction work. So, it's always best to do your research first. 

Check if there are any Mistakes in the Renovation

When viewing a flipped house, keep an eye out for loose outlets, drafty gaps in doors and windows, and fixtures in strange places. Make sure all major systems and appliances are working properly by turning them on. An inspection isn't worth the money if there are obvious signs of a poorly constructed house visible to the naked eye.

Hire an Experienced/Qualified Inspector

For your peace of mind, an inspection is recommended before making an offer on a house. Make sure the expert has ample experience and an excellent review history by doing your research. Also, keep in mind that general inspectors only look at what they can see. You should heed their advice if they recommend bringing in a specialty inspector to investigate something suspicious. The seller may be willing to negotiate the sale price if anything arises during the inspections. 

In a competitive market, scheduling several inspections can be challenging and time-consuming. When buying a flipped house, however, steps like these are extremely important. 

Try to Contact or Ask Around for the Contractor Who Worked on the Construction 

Identify the builders of the home by asking your real estate agent. They may mention the company or companies used (which you can then research), or they may say the owner did the bulk of the work. Ask if the owner can show you examples of their previous work if they did a lot of the construction themselves. It is better to have as many references as possible. However, there is no reason to be concerned if this is the owner's first time flipping a home. Make sure everything was done according to code and that the proper inspections were conducted. 

Enjoy the Convenience of a Fully Renovated Home

After you've completed all the previous steps, it's time to consider the advantages of buying a flipped house. Fixer-upper homes are a dream for many people, but it requires a lot of patience, money, and time to renovate them to their tastes. 

There are several benefits to moving into a properly flipped home:

The House is New and Shiny

Buying a home often means worrying about when something will wear out and need to be replaced. When a house is flipped, many of its issues have been resolved by the owner. It is therefore comforting to know that the roof was replaced or the plumbing has been updated.

Move-in, Unpack, and You're Done

Packing up your life and moving can be exhausting, no matter how organized you are. It's hard to relax when you're constantly surrounded by projects that need to be completed when you move into a house that needs a lot of work. It can be a relief to buy a remodelled home if you don't have time or want to do any house renovations.

Affordability/Better Price

The chances of buying a flipped house for a better price are higher. In most cases, a person selling their current home will wait for the most efficient deal. This is because they will use the proceeds from the sale to finance their new home. A flipped house, however, may want to sell as soon as possible to invest the profits in the next project. In this case, they may be more willing to negotiate the sale price. Depending on the seller, you may be able to negotiate a home warranty or closing costs.

So, is Buying a Flipped House Good Or Bad?

As long as you protect yourself and do your research, the answer is no. Due to videos of flips gone wrong or stories from other homebuyers, many buyers may be hesitant to buy a flipped home. If you don't want to renovate a property or have a limited budget, buying a flipped house might be a viable option. A lot of reputable developers and homeowners strive to build homes of the highest quality and pride themselves on their work. Trust your gut and do your research to ensure it's a sound investment. A flipped home or not, that's the best way to find your dream home. 

Also, read about the Importance of Planning Networking, Running Speakers, and TV Cables During the Construction Stage

We hope this article has helped you with insights and a better understanding if you are planning to purchase a flipped house. However, sometimes you may require an expert's help with Setting Up Networking Cables for your house or other technical-related issues. In that case, please feel free to get in touch with us. Our Tech-Genies will make sure to complete the job with efficiency and the best quality. 

For more details, please click on this link: https://quickgenie.store or call us at +1-408 839 9298.