How to fix a badly flipped home

| Homeowners

We’re not surprised to see a new trend arising in real estate – the art of “unflipping” badly flipped houses. So many inexperienced flippers have tried to make their fortune in this lucrative but highly skilled investment strategy only to find they lack the funds or talent to pull it off.

Here we explore the unflipping trend to help new flippers succeed and home buyers avoid buying a badly flipped home.

What Exactly is Unflipping a Home?

Unflipping is basically righting the intentional or unintentional wrongs made by investors who purchase run down properties, invest money to restore them, and then sell them for a profit. While there are many honest flippers out there committed to the highest standards, there are just as many inexperienced or “bad eggs” out there who are flubbing it big time. And it’s the newbies and baddies home buyers are crusading against as they jump on the unflipping band wagon.

Do you have big real estate goals this year? Whether you’re a buyer, seller, investor, or just someone curious about the market, read our blog about how to achieve your real estate goals right here.

How are Badly Flipped Homes Unflipped?

Unflipping badly fixed homes tends to focus on either:

  • Repairing the damage caused by cutting costs and skipping essential steps in the renovation process,
  • Restoring the vintage character covered up or removed during the flipping process,
  • Ridding the home of common, everyday updates already feeling passé, OR
  • All of the above

Looking for more decor and reno inspo? Here are a few more blogs you might like:

Common Vintage Character Killers in Badly Flipped Homes

If you’ve ever watched one of those flipping real estate shows and thought, “Dude, that’s a gorgeous vintage fireplace you’re covering up!” or maybe, “Whoa, they just tore out original built-ins!” good on you!

Before you take a crowbar to vintage and heritage features in a home you’re flipping, consider their value and avoid common character killers like removing the following:

  • Lovely fireplaces including original mantles, hearths, tile work, plaster work, etc.
  • Built-ins such as original bookshelves, dining room China cabinets, kitchen storage cabinets, butler pantries, etc.
  • Vintage bathroom tile in excellent condition
  • Staircases
  • Original woodwork such as hardwood floors, wood wall paneling, carved detailing, coffered ceilings, baseboards, hand carved features, doors, etc.
  • Original light fixtures

Remember, buyers are willing to pay big bucks for that kind of character. But there’s also the risk of outdated updates. Yep, it’s an oxymoron, but it’s a thing. Some examples of outdated updates buyers are so over include millennial grey walls, all white kitchens, grey washed vinyl flooring, modern farmhouse aesthetic, etc.

So, flippers when flipping a home, vintage or not, ask a savvy real estate team for advice to make sure you’re making smart decisions that increase your profits.

Read more about renovations with these blogs next:

Common Issues Homeowners Have to Unflip

If you’re a buyer considering a flipped home, beware of the following nightmares you might have to unflip:

  • Non-permitted work: Oof, this is so scary to think about, but it can happen. DIYers and flippers who either don’t understand the process or purposefully skip essential steps to save money can make changes that impact the structural integrity of the home. A common misstep is knocking out supporting walls to create open concept spaces or when finishing old basements. However, other issues might include plumbing or electrical not performed by a licensed pro.
  • Imperfect tile work: Imperfect tile work increases the risk of leaks. Loose tiles, improper water proofing and using the wrong materials during the flipping process are common issues that must be unflipped.
  • Old or leaky pipes: Older Toronto homes often need pipe replacements due to aging plumbing or lead. Since flippers tend to skip the inspection to entice sellers to take their offers, it’s not uncommon for them to discover plumbing issues once their renovations begin. As a result, they might take short cuts such as keeping the old pipes OR DIYing the plumbing to save money. So, while it might be tempting to skip the inspection when putting in an offer to buy a newly flipped gem, don’t let those shiny new finishes fool you!
  • Scary electrical: Poor electrical can increase the risk of fires and, like pipes, electrical work eats into flipper profits. So, ditto for our advice above.
  • Overall shoddy workmanship: Loose floors, cheap gappy baseboards, messy paint, cabinet doors that don’t close properly, weird uneven kitchen counters and more are work that has to be unflipped. These are all signs of shoddy workmanship by DIY flippers that will have to be redone.

Luckily, many of these issues can be caught by a home inspection in hand with due diligence to check for proper licenses and records of contracted work.

Whether you’re buying a home that’s been flipped or looking to sell a home you’ve put a lot of work into, The Christine Cowern Team can help. Give us a call at 416.291.7372 or email us at hello@christinecowern.com. We’d love to work with you!