What House Flippers Don’t Want You To Know
Poor workmanship, questionable materials, and inexperienced contractors are just a few of the factors you need to be aware of when purchasing a property from a house flipper. Today, we will discuss what you need to look out for and which questions you should be asking to avoid major regret and financial loss.
Buying a home that has been extensively remodeled by a house flipper can be a great investment opportunity, but it can also be risky. I’m here to help you know the questions buyers should ask, but rarely do when purchasing a heavily remodeled home.
Why Do I Need To Worry About Recent Remodels or Flipped Homes?
I’ve been seeing more and more investor remodeled homes selling for shockingly high prices throughout the Pasadena area. This makes me very worried for local home buyers, and here’s why:
An investor’s sole objective is to make as much money as possible, as quickly as possible. Low-quality contractors often tend to be the ones doing the work, and they’re likely cutting corners for the sake of speed and to cut costs.
While the materials used might look great, they tend to be flimsy and cheap upon closer inspection. Most homebuyers simply don’t know the difference, and why should they? They’re not experts on construction quality or best practices. Because the home looks beautiful in the online photos, many buyers assume the high asking price is a reflection of quality. Unfortunately, that assumption is often miles from the truth.
Don’t assume that all investors and contractors are bad or are cutting corners, however. Some local investors have earned a wonderful reputation for building quality homes with skilled contractors, but as house prices continue to climb year after year, fly-by-night investors are jumping into the market more than ever.
This is where things get concerning. The last thing any of us want is for a home buyer to buy a house that looks great on the outside, but is actually a ticking time bomb of construction defects and shoddy workmanship hiding beneath the surface.