Buying a home is an exciting experience. Some have even gotten into the business of flipping homes, that is buying homes, repairing them, and then selling them off to a new buyer. Unfortunately, sometimes there are serious issues that could eat into your profit margin. Here are some big culprits:
Roof problems – Flippers often attempt to correct roof issues by patching or replacing them. Roofing is not a simple task, and a poorly repaired roof could lead to water damage and other serious issues. If a roof repair is poorly done, it may cause future leaks. Or the leak may have to be repaired again.
Electrical problems – Old wiring in a home can be very costly to repair, and it could be a serious fire hazard. It is always important to have an experienced electrician taking care of electrical work to ensure that it is done correctly.
Plumbing problems – A backed-up sewage system can lead to very serious issues. It is difficult to spot clogs in the sewage pipes without the proper tools and training, and if a house has been sitting for a while, it might take some time before the effects are noticed and the water backs up.
Termite damage – Termite damage can be hiding throughout a home with very little to show it on the outside. Without a proper inspection, structural damage could be hiding out of sight, and lead to very serious problems in the future.
Of course, these are important things to keep in mind when buying a home from a person flipping homes as well. A proper home inspection can help spot all these problems before a contract is finalized, and it can save you a lot of money.
