6 Signs of a Cheap Flip
No one wants to be tricked into buying something. How can you see through the fixes of a flip to determine if it’s worth buying or not? Angie talks through areas to look out for.
Feeling ready to buy? How can you tell if you’re about to buy a cheap flip? Angie says she’s talked through a few homes with clients that would have been a bad decision to buy. Let’s talk through the main warning signs of a cheap flip (that you might be paying for in the long run).
If there were no building permits, despite major changes or additions to the home, that’s a red flag. A permit needs to be pulled for those types of renovations to fixer-uppers to ensure that the work is done properly and up to code. This is for your safety and the integrity of your home. What happens if things weren’t up to code?
Fresh paint seems like a nice idea, but is it hiding mold or problem areas? Water damage should come to the surface, even if it was painted over. But don’t assume it’s a problem. A lot of times a realtor will suggest painting just for a fresh look before selling.
What if you come across mismatched plumbing or faulty wiring? This could be something you’ll want to look out for. Make sure it was not just a partial fix on something requiring a bigger fix. Is there new cabinetry but it feels poorly installed? How about the floors, are they lacking consistency? Are all of the doors and windows working properly?
Look out for a situation that feels a bit like “lipstick on a pig” to determine if the money you’ll spend is worth it. Is the quality there or was it just a quick fix to make a buck? Your realtor should be able to help guide you in making these decisions as they are more familiar with what a home should look and feel like and make sure it meets your needs.
Listen to the entire episode or skip to a particular question using the timestamps below.
1:33 - No building permits.
3:40 - Fresh paint in certain areas hiding defects.
4:32 - Mismatched plumbing or faulty wiring could be an issue.
6:02 - New cabinetry with poor installation is worth watching.
6:51 - Flooring inconsistency is a concern.
7:27 - Do doors and windows open easily?
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