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Understanding Property Values

Understanding the Buyer’s Market
How to Evaluate a Home
Location and Specific Neighborhoods
Market Value of a Home
Understanding the Seller’s Market
Tips From Professionals
What the Eye Doesn’t See


New House Flip Directory

When to Flip a Home

 




What the Eye Doesn’t See

Very often someone trying to sell their home can make a few small and cheap cosmetic changes in order to make the place look attractive to the buyer. You yourself may want to do this once you’ve purchased a home you plan to flip and sell but if you’re at the stage of looking for a property to buy yourself than be sure to examine the home in question thoroughly. You don’t want to over-pay on a home or even worse –get stuck with a lemon.

Homes can look nice with a fresh coat of paint and new wallpaper but you need to find out exactly what’s going on behind the walls. The eye doesn’t see plumbing problems or electrical faults. Not only can these be costly to fix afterwards but they can also be a fire hazard. The first thing is to look very closely at the home. Check the ceilings and basement for water damage. Go up to the attic to see how it takes bad weather. You may even try to get up to the roof to see what condition it’s in if you can easily access it.

Check the bathrooms and kitchen for mold.  This can be an indication that humidity and water get trapped in the walls during certain wet times of the year. Ask the owner if they ever dealt with a burst pipe or replaced any of the original plumbing. Find out how old the house is and get a record of all the work ever done on the place. Inquire about the electrical system in the house along with heating and cooling.

Finally once you’ve done all you can, it’s time to call in a few professionals for a realistic quote of what work needs to be done and how much it will cost. Speak to contractors, plumbers, electricians and painters. Compare quotes; don’t just speak to one of each. All these tips will help you understand what the eye doesn’t see.

 

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