Flipping, renovating, and remodeling—these words are used interchangeably, but they refer to different meanings. If you are interested in buying a property, you need to understand the difference between these types of redevelopments. This article is for you if you are interested in purchasing a renovated house.
When buying a remodeled property, you want to inspect the house in detail. It is easy to get wowed by the stunning lights and fresh paint. But, that’s just cosmetic makeover. You need to look beyond the surface because you are going to live in that home!
Explore the house in detail and check whether it was rehabbed or flipped. Let’s first understand the differences.
Home Renovation Vs Flipping
If you consider the dictionary, renovation means to refresh. It means giving a new look. Flipping means to improve the outside appearance quickly. A flipped house usually has new paint, fresh carpet, lights, and new countertops. However, the infrastructure remains the same.
Renovation and flipping can often mean the same thing. Changing the style of the kitchen is considered a renovation project.
What is Home Remodeling?
Home remodeling or rehabbing goes beyond the cosmetic makeover. Rehabbing a house involves demolition, repairs, new construction, alteration in the living space, and replacement of essential systems. A fully rehabbed home is not going to create problems after you purchase it. The roof is established. The plumbing system is renewed. All the systems are functional. It is like buying a brand new house!
What is the Difference Between Home Rehabbing & Flipping?
Rehabbing a house means replacing essential systems, changing the layout of the property, and using the latest appliances. A reputable company will inspect the home in detail and will replace electric, plumbing, and mechanical systems as needed.
When visiting a newly renovated house, don’t get mesmerized by the looks of the new kitchen. Explore the property. Open the doors and closets. Check the attic, electric panel, cabinets, and mechanical equipment. If these components look new, you may be visiting a rehabbed home. Otherwise, you’re at a flip.
When walking around the house, feel free to ask questions.
- What is the condition of the septic tank? Was it pumped, and replaced?
- Was the sewer line scoped?
- Did the seller verify water recuperate rate, and tested the water for minerals?
- What is the state of the furnace and boilers?
- Are electric equipment and plumbing systems in a fine condition?
House flipping tends to deal with surface repairs. Opposite to that, rehabbing involves replacement and construction. Significant repairs require building permits. If the seller has rehabbed the house, they will likely have building permits which can be presented to you upon request. Furthermore, a reputable rehabber will give you a home warranty. The house has been renovated from top to bottom. Still, if something goes wrong, you’ll have the builder’s warranty.
When buying a rehabbed house, always work with a reputable firm. Carefully inspect the home and ask questions whenever necessary.
If you need help or have questions about buying a renovated property, give us a call or leave us a message. We’ll be happy to answer your questions.