For any new readers that do not know, I live in Victoria, BC (home of flipping houses).
Now, you maybe saying why is there a photo of a pig with lipstick on it?
Have you heard the expression, “Lipstick on a pig”.
This is a very common phrase in real estate.
Many homebuyers spend little time walking through a home prior to making an offer.
This gives them homebuyer a general impression of the cosmetic condition inside and outside the home.
The main concerns for homebuyers are the foundation, grading, electrical system, plumbing, heating and cooling systems, attic construction, insulation, ventilation, and roof conditions. These are non-aesthetic items that you cannot see.
Here are 5 signs that the house you are buying is being flipped.
- Fresh Paint
- Fresh bark mulch (required to hide the weeds in the yard)
- New countertop
- New tiles
- New stainless-steel appliances.
Can you see what is in common? If you guessed aesthetics, you are correct.
It is very easy and relatively inexpensive to make a home “look good”.
What are some things I can do to prevent buying a flipped house?
Look at the big ticket items in the home.
The furnace should be less than 10 years old. The water heater should be new to no more than 5 years old.
Always get a qualified house inspector (more experience the better).
The roof should be no more than 10 years old. Look at the crawlspace and make sure it is relatively clean.
The electrical system should be 200 amp service to accommodate today’s growing home electrical needs.
These are just a few of the many considerations to take into account when looking at a potential home.