At this point, it’s almost impossible for a normal adult with an average-paying job to buy a great house in a decent neighborhood that wouldn’t break their banks. The reality that beginning millennials can’t afford to buy themselves a house manifests when you look at the housing market.
Since buying houses are way out of budget, most young adults opt to look for leased apartments or rental homes. There is another way adults seeking to be homeowners can afford their own homes: by DIY house flipping! The practice is done mainly for for-profit and sales in real estate, but nobody ever said that you couldn’t flip a house for yourself.
House flipping is an option that many adults don’t realize they can take because it isn’t as practical as renting or as easy to do as staying where they are right now. Flipping a house takes a lot of time and effort, but once it’s done, the end-product can be a beautiful thing.
All it takes is searching for the perfect dump that you can revive with a few tweaks and modifications, a little renovation here and there, as well as a lot of patience. Here are some of the most important areas to focus on when looking for a house to flip:
The first thing you’ll see, and what other people will see, when you enter the vicinity of your soon-to-be home is its façade. How it looks on the outside is important, but as long as it’s something you can fix with a few retouches, it can be good to go.
For instance, if it has a rough paint job that’s already peeling, that can easily be fixed with another coat of paint. If the house you discover has a leaking roof, a quick patchwork by a residential roofing expert can do the job. If the front yard is as dry as the desert, you can plant some grass and show it some love once you move in. There’s nothing you can’t fix with the help of experts in housing!
Once you enter the premises, your gut feel is something you should listen to. If you believe that you can do something amazing when you see the floor plan and imagine living there, you have found your home. What comes after will be easy! You can do whatever you want with your home.
If you want a big, open kitchen or a spacious den, you can opt to tear down the walls and make an open floor plan. You can install as many cabinets as you want, or none. You can renovate the rooms and the bathroom to suit your tastes. That’s the beauty of creating your home from a blank canvas, but with the foundation already in place.
Speaking of foundations, the house’s foundation should be the most important factor of all. Before ultimately deciding to buy the house you’re going to flip, you should get a house foundation inspector to check out all the works. See if the pipes are still working or if the house foundation is sturdy enough to last you the next 50 years. It’s essential to know all these before you buy a house because that will make you a responsible adult and homeowner.
If the house has a basement or a crawl space, it’s better to get an exterminator in there to get rid of the critters in your home. Once the house checks out, you can sign the deed and begin planning your dream house.
Of course, being a responsible adult also means that before you go searching for your soon-to-be dream house, you’ve done your research on how much it can cost you to do a house flip. Still, flipping a house can be the most practical option in this economy after leasing and before building a house.
Think of it this way. Instead of laying the foundations, you’ll be skipping a step and directly moving on to renovating, as well as designing how your home will look like. If you have a knack for DIY projects and interior design, then house flipping may as well be a passion project.
House flipping doesn’t get the credit it deserves, but mostly because house flippers by profession do it for profit, which does not always pay out. Everything comes with a price in this world, but if that price means you’ll get to build your dream home after putting in the work and effort, then that will be money well-spent!