Rehabbing properties is a fun way to get involved in the world of real estate, but it’s not all decorating and open houses. Sometimes, a home needs major structural upgrades to become liveable again. Don’t get stuck with a home that’s in need of serious repair. Read these real estate flipping tips and learn how to find a structurally sound property:
- Look out for cracks. Large cracks running down the walls may be a sign of terrible things to come. Rehabbing properties gets a lot more complicated when walls are cracked. The cracks may be a sign of foundation trouble, which typically requires an incredibly expensive fix before the house is safe and habitable once more.
- Step outside. Stand on the curb or across the street and take a good look at the property. Is the house leaning or obviously in need of structural repair? Many people head straight inside without pausing to take a critical look at the outside of the home. Look beyond paint and dirty windows at the actual shape of the house.
- Open a door, shut a window. When you’re walking through the home, open and close doors and windows as you go. Sticky windows and doors that drag may simply be poorly installed, or they may hint at structural problems which could get worse over time.
- Check out the basement. If the home has a basement, make sure you give it a quick perusal. Major cracks or standing water may be signs that the home has serious (and expensive) problems.
- Water, water everywhere. Big brown stains on ceilings and walls could be a sign of a leaky roof. Likewise, if you notice that only one room or wall in the home is freshly painted – while the rest of the paint in the home is old – ask about it. The paint may be there to cover up water stains.
If you’re ever unsure about structural problems when you’re rehabbing properties, get a home inspector to accompany you on your next walk-through. They’ll be better able to spot potential problems. Should you decide to purchase the home even after learning about structural damage (it might be a really good deal), make sure you read up on real estate flipping tips – you’re going to need them!
