Hey everyone! My wife and I found a house that really fits our needs and budget, but there's something that's weighing on our minds. The home was gutted and rebuilt after it suffered a major leak that the previous owner couldn't afford to fix. Now, a flipper is selling it. We're curious if this type of property is more like a flipped house or new construction in your opinion. Also, since it had a leak issue, will an inspection help us uncover any damage to the foundation?
4 Answers
I'd personally prefer a gutted flip over a house that looks complete but may have hidden issues. Just consider:
1. Why was the renovation abandoned?
2. How much will it cost to finish everything? You need to evaluate if the final price still works for you.
3. What's the timeline to get it livable? Make sure you can handle that.
Remember, every house will have its quirks, even brand new ones. Here are some tips:
1. Flipping isn't inherently bad, just make sure your inspector can assess the quality of what's been installed.
2. Verify that the flipper pulled proper permits. This is key for plumbing, electrical, and utilities and will affect your insurance options.
3. Aim for at least a one-year warranty; two years would be better but could put the seller in a tough spot. Flipping can be fine as long as you ensure quality and documentation was followed.
Buyers are scarce in many markets right now. If you're feeling uneasy about this house, remember there are others out there. I get the hesitation around flipped homes; sometimes they can look great but cut corners to boost profit. Just be cautious and get a solid inspection to gauge the quality of the work done.
Check if any building permits were issued for the renovation. It doesn’t guarantee everything is perfect, but it shows someone has had to ensure quality control, at least to some degree.
The house is actually finished; we just want to ensure the build quality is solid.