Many more people are buying rundown homes, repair them and then putting them back on the market for more money than what they bought the home for. This is often referred to as flipping houses. There is a lot to know about flipping houses and what mistakes to avoid. Lifeline Home Inspections will share the essentials of flipping houses and what short cuts you should avoid when renovating a home.
How to Get Started Flipping Houses; Home Inspections
After buying a home you plan to flip, the very first step is getting the home inspected. Home inspection is essential to learn the ins and outs about the home. When you need to renovate the home you don’t want to sink too much money into the home or you may not make any profit on the house when you plan to flip it. However, you will want to make some essential upgrades to the home to increase the value. A home inspector can help go through the home and determine what problems need to be addressed. When it comes to what needs to be repaired, they often don’t focus on aesthetics, but more on the structure, and utilities such as electrical, plumbing, the HVAC system and the roof. However, if some aesthetics are out of date they may share that in a report. When the house’s electrical, plumbing , HVAC or gas and other utilities are either broken or require updating and repair, this will reflected on the overall value of the home.
Importance of Getting a Building Permit when Remodeling
After having the home professionally inspected, you will be able to determine what updates or repairs are needed and begin renovating. Some renovations will require a permit. Each state varies on what they require when it comes to permits. For example, when replacing or upgrading the home’s electrical, plumbing, HVAC work, and roofing, often a permit is required. Permits are also required if you plan to remove or add walls, room additions, foundation work, and finishing a basement. If the home’s structure and utilities are damaged, outdated and require repairs or upgrading, it is essential to address the need for a permit in order to increase the value of the home. Other renovation such as painting, installing new flooring, repairing holes or cracks, and replacing doors, light fixtures, faucets and shower heads usually don’t require a permit and these renovations may go on without the need for pulling any permits. There are a number of ways to increase the value of a home during a renovation. However, it is important to know what permits will be needed. In the state of Georgia there are a number of permits that are needed. However this varies by city and by county. When flipping a home make sure to get the home inspected and research what permits are essential.
Benefits of a BuildFax Report
BuildFax reports are often provided by a home inspector. The BuildFax Report lists the home’s internal and external condition such as condition of the home’s roof, plumbing, electrical system, doors, windows, and previous remodeling projects. They can even provide a list of previous permits for renovations that were done on the home as well. If a home has previous permit information, it typically indicates the property was well taken care of. If no permits are found this could indicate a number of problems, mostly due to neglect or outdated utilities. When having a home inspected, request a BuildFax Report to know the home’s history as well as condition.
Buyers & Sellers Home Inspections, BuildFax Reports & More in Fulton, Spalding, Coweta, Douglas, Pike, Upson & Fayette County, Georgia
When flipping homes and you want to know the home’s condition and history, contact Lifeline Home Inspections. We can provide a complete report of a home’s condition and provide a Buildfax Report to aid you when flipping a house. Contact Lifeline Home Inspections to schedule our services today.