New Countertops: Does Your Flip Really Need Them?

 How to Decide If a Flip Needs New Countertops

When flipping a home, it is usually smart to leave the countertops in place. Good countertops are expensive, heavy, and require professional installation. But there are some situations where your flip needs new countertops to ensure the best resale value. How do you know the difference, and how do you get the best ROI from a new countertop installation? Let's take a closer look.

 

Why Replace the Countertops?

There are only a few reasons to replace countertops. Contrary to what countertop manufacturers may say, you don't need to replace good stone with every renovation - just a few important once.

Rebuilding the Lower Cabinets

First, countertops can rarely be put back on after you remove them. So if you're completely rebuilding the lower cabinets, you'll need a new countertop to cap them. Plan ahead for any major kitchen remodel where you plan to redo the cabinetry.

Upgrading Countertop Materials

Not all countertops are made equal. If your flip has awful laminate countertops or butcher block that has seen it's day, an upgrade may be in order. New countertops can really make the difference, especially if the old countertops were a low-quality and shabby material.

Stone Countertops are Badly Damaged

Stone countertops should be left alone - unless they are irrevocably damaged. You can often buff, polish, and re-seal good stone countertops. However, the following types of damage may mean you're going to need new stone:

• Large Noticeable Cracks
• Deep water stains or mildew penetration
• Colorful permanent stains
• Scorch and burn marks

Changing the Entire Color Scheme

Countertops also play an important role in the kitchen's color scheme. If you are planning to completely re-palette the kitchen with new colors, you may need a new countertop if the original was not a neutral tone.

Expanding the Kitchen Counters

Lastly, expanding a kitchen usually means all-new counters. A new island doesn't have to perfectly match the original counters, but an extended lower cabinet line should usually get all-new counters to match from end to end.

 

Selecting New Countertops

How do you select new countertops? Natural and manmade stone are the leading trends and a timeless investment that will last for many more trend-changes with the house. Granite is the best choice for natural stone, but will need to be sealed and re-sealed ever 3-5 years. Quartzite is a fabricated stone that can be made to look like any other stone you prefer.

Matching the Neighborhood or Standing Out

A good way to estimate the right type of countertops for a flip is to check the neighborhood. Look at kitchen photos of recently sold homes to determine the type of stone and colors usually seen. From there, you can choose to match the most popular and elegant trends or stand out in a classy way with a contrasting choice.

The Best Deal on Stone

Premade countertops are cheaper, but your kitchen must be of standard measurements to fit them. Otherwise, you'll get the best deal by purchasing a whole slab and having custom countertops cut from it. Get estimates from local stone suppliers and stone fabricators (they are not always the same shop).

What to Do with the Extra Stone

Once you've cut countertops, the rest of the slab and the remnant stone is still yours. This can be quite a lot of luxury stone that can be cut into smaller pieces for beautiful accents throughout the house. You may also be able to salvage good sections of the previous countertop - if it was stone or butcher block - to use as remnant accents as well.

 

How to Determine Countertop ROI

Is countertop replacement a good investment in a home flip? It depends. Countertops are a high-ticket installation, but like all good flips, you'll get the best value when replacing a shabby or damaged existing material. Estimate the increased market value of the home with gleaming new countertops vs the price of the stone and installation to consider ROI.

If you plan to rent the flip when you're done, ROI doesn't have to be a single calculation. Estimate the higher rent you can charge after renovating the kitchen with new countertops to get your ROI over time for the investment.

 

Flip Renovations for Future Rentals

When planning major renovations for your flip, renting is a great way to ensure that your investments ROI over time. By increasing both the beauty and quality of a kitchen through upgrades like new kitchen counters, you can set a competitive rental price for high-end tenants and see your returns increase as a result. For more insights on flpping homes into successful rental houses, contact Leaf Management and consult with our property management experts.

DIY Renovations for First-time Flippers

 

8 Flipping Renovations for DIY Beginners

Flipping homes can be profitable and fun. Transforming a shabby house into a beautiful, modernized home is the best kind of investment. Of course it's important to plan projects based on both your skill level and your budget. You can save a lot of money on DIY when you choose projects that improve a home's appearance and perfectly match your ability.

If you're still a DIY beginner, there are still tons of ways you can improve the home without hiring contractors. Let's explore some of the best flipping renovations for DIY beginners.

Know Your Renovations by 

The first step is to know which renovation projects are ideal to DIY and which ones might require a contractor. A good rule of thumb is that if it involves altering the utilities or structure, you need a contractor or get personally certified. But if the project only requires things like paint, nails, and fit-together kits, then even a beginner with elbow grease and an eye for good quality can do it right.

 

1. Repaint with Precision

If you're careful and artistic, you can beautifully repaint a home with nothing more than basic supplies.

Use tarps, paper, and painter's tape to draw perfect line so that paint only goes where it's supposed to. Then apply smooth, even coats with rollers and brushes. A fresh coat of paint well-applied can make any home look and feel like new. You can also update a home with a new color palette and attractive accent work.

 

2. Weatherproof Doors and Windows

Improve a home's energy efficiency and your sustainable home marketing by weatherproofing. Install new weather stripping around the doors and the windows that open. Then re-caulk around fixed window pains. This simple upgrade will keep windows from rattling, cause doors to seal more firmly, and improve the HVAC comfort and efficiency of your flipped house.

 

3. Install New Floors

You might be surprised, but new flooring can be a beginner DIY project - as long as you choose the right floors. Roll-out floors like carpet are easiest. Tile can be challenging, but modern flooring materials are easier to work with than ever. Wood boards used to require more advanced skills but luxury vinyl boards fit together in a simple and modular way. Luxury vinyl wood floors are also extremely popular right now as a beautiful, affordable, and durable alternative to hardwood flooring.

 

4. Refinish Kitchen Cabinets

You don't have to rebuild a kitchen to make it look brand new. Refinishing (paint or varnish) or refacing (new surface board) the kitchen cabinets can make them appear modern and new while leaving the cabinet "boxes" and shelves in place. Repaint the shelves and add a few cool organizers to create a fully updated kitchen without going all-out on your budget or exceeding your DIY skills.

 

5. Update the Thermostat

Most people don't realize that changing a thermostat is often quite easy. If the home has an old thermostat, all you need is an updated programmable or smart home model that uses the same built-in connectors. If the thermostat is directly wired in, however, you may need an electrician as you would changing any built-in electrical feature.

 

6. Add Crown Molding

Crown molding can make a plain house look subtly fancier and cover minor flaws near the top and bottom of each wall. You can replace scuffed old crown molding or add crown molding where it wasn't installed before. You can also replace the decorative elements of door frames and window frames to make the entire home appear more modern and cohesive.

 

7. Built-In Shelving and Organizers

You can add new shelves to storage areas and install elegant built-in shelving using flat-pack shelves and a few extra nails to attach the shelves securely to walls and closets. You can also upgrade existing storage spaces with organizer features that screw into the shelves and structure, such as sliding baskets and hanging racks. These upgrades can make a home more functional and appear more "bespoke" while requiring only some basic nails-and-screws carpentry.

 

8. Retile Backsplashes and Bathrooms

Lastly, you can try your hand at tiling. Tiling requires some care and precision (spacers and grout can be tricky) but it does not require any advanced tools, certifications, or special skills. Make sure your tiles are spaced evenly, then carefully clean up the grout before it cures and your new backsplash or bathroom tile can be a beautiful way to update your flip.

 

Managing Your Flips with Leaf Management

If you are flipping homes to rent in this high-demand housing market, you don't have to stop your home-flipping journey to manage the property. With an experienced property management team on your side, you can dive into your next investment and keep building your DIY experience while we handle the tenants. Leaf Management is here to help you live the real estate dream, whether that's building a portfolio or beautiful house flips. 

Investment Property Renovations

 Should You Remove Popcorn Ceilings from Your Investment Properties?

 

 

Do Popcorn Ceilings Hurt Investment Properties?

When you buy an investment home, every detail matters. A few renovations can go a long way toward making the home more profitable to rent or resell. You can often identify the most important changes, like replacing a damaged floor and flaking fixtures. But what if the house has a popcorn ceiling.

Popcorn ceilings were popular from the 70s to the 90s but have since fallen out of favor. While they to reduce a few echoes in the house, they are also dusty and give the house a faintly "rumpled" look from the top-down. The question is: Will that popcorn ceiling hurt your profits and is it worth taking down?

There's been some serious debate on the subject, so let's take a serious look to determine the most profitable path.

 

Why Buyers Dislike Popcorn Ceilings

Popcorn ceilings have become unpopular. They do not make a home look modern or cozy. They are one of those design trends that is no longer desirable and even the original purpose has been reconsidered. Home buyers and renters dislike popcorn ceilings for three important reasons:

Outdated and Unstylish

First, popcorn ceilings are outdated and not-at-all stylish. They were never attractive, but they were once considered a practical way to soften indoor sounds. Now, they are considered a rumpled and unstylish look that offers negative value. 

Clean lines and smooth ceilings are far more in vogue if you're looking to create the most desirable living space for investors or renters.

Difficult to Clean

Popcorn ceilings are both bumpy and delicate. They collect dust and drop ceiling-bits when you try to clean them. People who are dust-conscious have a much stronger dislike for popcorn ceilings and they can passively increase the amount of dust in a home.

Lurking Asbestos Risk

Lastly, popcorn ceilings built before the mid-80s have some risk of containing asbestos. If the ceiling is damaged (or when you try to remove the popcorn) a whole new hazard is introduced. People worried about asbestos may avoid popcorn ceilings on principle.

• Note: Be careful DIY removing a popcorn ceiling IF the home was built/last renovated before the mid-80s. Get asbestos testing and/or wear the right protective gear if there is any risk that asbestos might be in the popcorn.

 

Will Buyers or Renters Refuse a Popcorn Ceiling?

Some buyers and renters will flatly refuse to consider a home with popcorn ceilings. While most people will overlook a minor fashion faux-pas, and many renters in the mid- to low-tier range are accustomed to older styles. However, high-end renters, investors, and those who are conscious of cleaning and asbestos concerns may simply walk away from any property that has popcorn ceilings.

 

Is It Worth Removing the Popcorn Ceiling?

It depends on your housing market and selling plans whether removing, refinishing, and repainting the popcorn ceiling is a good investment.

Upscale Market: Yes

If you can up-scale the home to a higher income market for renting or selling, and removing the popcorn ceiling is part of that project, then yes. It is probably worth the time and expense of scraping off the popcorn and refinishing.

Quick Flip: Probably Not

If you are planning to quickly flip the home as an affordable rental home or starter home, then don't worry about the popcorn ceiling. The difference is not a reflection on your renters/buyers, but lies in the pickiness of higher-end occupants. Starter home buyers often expect to plan their own DIY improvements and low-income renters know that they can get a better deal on older architectural styles.

DIY Experience: Yes

If you personally don't like popcorn ceilings and want the DIY experience of stripping, refinishing, and repainting to make the space more elegant, then by all means build your skills with this harmless and beneficial project. Just date the building and/or get asbestos testing before you start scraping.

 

Renting Your Investment Properties

After making all the right calculations and improvements, your investment property is ready to make money. If you plan to rent the home to local tenants or vacation rental guests, Leaf Management can help you streamline your investment home's profitability. We can manage your property marketing and tenant screening and support your tenants during their residence while you focus on your real estate strategy. Contact us today to learn more.

"Live-In Flip" Strategy - Yes or No?

 

Pros and Cons of the 'Live-In Flip' Strategy

Flipping houses is a clever way to turn low-cost homes into profitable opportunities. Many homes have fallen out of favor due to dated and poorly maintained features, but they still have "good bones". With a few renovation projects, each one could be an appealing home to rent or resell. While most people buy separate homes to flip, a few practice the wily art of "live-in flipping" in which you live in the home while you renovate it to minimize costs and maximize efficiency.

Are you tempted by the call of a live-in flip project? Still debating whether it's the right answer? We can help with a deep dive into the pros and cons of the live-in flip strategy.

 

Flipping, House-Hacking, and Live-In Flips

Live-in flip projects are where flipping meets house-hacking. House-hacking is when you buy a multi-residence property (from duplex to apartment building) then live in one unit while renting the rest. It's a clever way to reduce costs and stay close to your investment.

Flipping is fixing up a house to restore it's profitability. Live-in flipping is a whole additional level of commitment compared to flipping a separate house, while offering many of the advantages of house-hacking. Of course, there are a few things you might consider downsides, so it's important to make the right choice.

 

Pros of Living In Your Flip

Live-in flipping is a 24-7 renovation project. You live in the house you are renovating and it will become your world. For some people, that's a DIY dream come true. For others, it would be a nightmare. But there's no denying the benefits of live-in flipping when it comes to the finances.

Don't Pay for Housing

First, you don't have to pay for housing. You don't need to own a separate home or rent nearby, and you don't need to pay two sets of utilities to keep the lights on in both places.. There's no commute to and from your home and flip except the shuffle from your bed to the kitchen each morning, and that might be perfect for you.

Owner-Occupied Financing

When you buy a house to live in, you can get much better mortgage rates. You can place a down payment of less than 5% and often get a better interest rate. If you live in the flip for 2 out of 5 years before selling, you can also take advantage of primary tax discounts.

DIY All Night

For many, living inside a DIY project is living the dream. If this is you, then you may love a live-in flip. You can DIY all day and all night, as long as you only do quite project stages like painting and retiling after dark. Save the circular saw for daytime hours.

More Time to Make Improvements

When you live in your flip, you have more time for projects. You don't have to commute and your finances aren't limited by maintaining a second home. You can take it easy or drive yourself forward at your own pace.

 

Cons of Live-In Flipping

Chaos is the primary downside of the live-in flip strategy. You will be fully immersed in your project without a "normal" home to go back to.

Living in a Construction Zone

First and foremost, you will be living in a construction zone. Any major renovations will mean that your home is less than complete during your stay. The full extent of your renovations will determine just how chaotic or disruptive this experience might be. Maybe you'll love the camping aspect and have a great time, but some may be less suited to the construction zone lifestyle.

Contractor Traffic

Second, if you hire contractors they will be moving through your home whenever scheduled. This is one reason why live-in flipping favors DIY enthusiasts to minimize the strangers and work crews in your house.

No Relaxation Between Tasks

You may miss the ability to leave your flip and relax between tasks. Some people are great at watching a movie on their laptop and kicking back between DIY projects, but others need their own private space to decompress. Plan accordingly.

 

Finding the Right Flip Strategy for You

When deciding whether to live in your next flip, consider how the lifestyle suits your personality, preferences, and needs. Do you love adventure and camping? Do you thrive on chaos and perseverance? Are you a DIY crafter or does your flip need only a few cosmetic updates? If so, then a live-in flip might be a great way to save money on your next real estate investment project.

And if you're thinking twice about setting up camp in a major construction zone, you can always keep your dwelling separate and nearby.

 

Finding Tenants for Your Flip

If you have completed a successful flip and are ready to profit, Leaf Management is ready to help. We offer professional property management services to help you find and keep tenants in the homes you flip. Contact us today to learn more.

 

Renovating an Outdated Kitchen

 10 DIY Projects to Flip an Outdated Kitchen

When flipping a house, it's important to focus on the details that matter most. Kitchen updates are among the most common and vital elements of a successful flip. A shabby or garishly outdated kitchen won't fly, but a modernized kitchen design can significantly boost the value of your house flip. Fortunately, you don't always have to go all-out on the kitchen remodel to get the best results.

There are tons of DIY-friendly projects you can use to flip an outdated kitchen into a cozy masterpiece while sticking to your flip renovation budget. Here are ten of the most effective DIY projects to improve the kitchen of any house you flip.

 

1) Replace Small Kitchen Hardware

You don't have to rebuild a kitchen to modernize the hardware. In fact, kitchen hardware is one of the smallest yet most impactful ways to update your flip's kitchen. Choose a new kitchen faucet such as a swan-necked pot filler with an extending hose for washing. Choose a modern style for your faucet and handles. Then update the cabinets with a pack of new drawer-pulls and cabinet handles.   

 

2) Repaint Cabinets and Trim

Paint is one of the most affordable ways to completely transform the kitchen. You can also invest in vibrant (and washable) wallpaper for the parts of the kitchen with exposed drywall. A fresh coat of paint can give the cabinets and trim an entirely new color scheme. You can choose a new primary theme, accent colors, and contrasting colors. 

 

3) Strip and Stain Cabinets Instead

If you have painted cabinets, you can strip the paint and then restore the natural wood hues of the cabinetry. You can oil-polish the wood, or you can stain wood cabinets to any natural shade you desire. Reseal the stained cabinets for a warm, welcoming look. If the cabinets are currently wood, you can stain them a new shade or paint them instead.

 

4) Re-Tile the Backsplash

The backsplash makes a big impact on the appearance of the kitchen. Many types of tile are quite affordable, making a new backsplash a great addition to any budget kitchen renovation.

 

5) Install New Decorative Molding and Cabinet Trim

You can even change the shape and style of the cabinets and kitchen design with the strategic use of molding and trim pieces. Trim pieces can add detail to the cabinets and subtly change their design style. Molding adds subtle elegance to the kitchen near the baseboards and ceiling. Explore shapes and style differences that you might prefer.

 

6) Add LED Strip Lights

Add more light to the kitchen without behind-the-wall installations using LED light strips. Light strips make it possible to light up the counter prep space, and the shelves in the cabinets and pantries by lining shelf edges with stick-on LED lights. Many of these are also smart lights with voice control and multiple color-changing options.

 

7) Place New Shades On Light Fixtures

You can also reinvent the existing light fixtures. Most kitchen lighting can be completely transformed just by changing out which light shade you use. If the fixture is of standard sizes, you can swap out light covers for a completely different style. You can restyle flush lights, pendant lights, and even some chandelier styles.

 

8) Color Stain and Reseal Stone Countertops

Did you know that you can change the color of the countertops? While we don't recommend painting beautiful natural stone, you can color stain granite and other natural stone to give the countertop a whole new look without investing in new stone. Strip the current countertop seal, apply the stain, and then reseal the stone to protect it from moisture and unwanted staining.

 

9) Add Rugs and Placemats

You might be surprised how much the surface-level decor can change the look of the kitchen. For example, a few throw rugs and fatigue mats can make the kitchen more welcoming. The same is true of placing decorative & functional placemats along the breakfast-bar which can make family and guests feel more comfortable hanging out in the kitchen.

 

10) Update the Pantry Organization

Pantry renovations are very popular, but don't have to break the bank. Consider ways you can update the pantry organization without a costly new pantry system. You can install sliding wire drawers, new hanging shelves, and sectional spaces on the own. You can also update the pantry simply by organizing everything into baskets, trays, and matching dry storage canisters.

 

From Flip to Rental with Leaf Management

After all your hard work, you could sell your flipped house quickly on the market. But as the owner,  you could also turn it into a long-term investment as a rental home. If you are eager to jump into your next restoration and renovation project, entrust your finished properties and tenants to experienced property managers as a way to secure onging income from each flip. Leaf Management can help you transform every flip into a profitable rental home. Contact us today ot learn more.

Profits in House Flipping

 What is the Potential for Profit When Flipping Houses?

Flipping houses sounds like a dream job, and you've probably heard stories about making "millions" by renovating and reselling homes. While this might be too good to be true, what's the real deal regarding how much money you can make flipping houses? Good question.

A lot goes into house flipping profitability and how much you'll make with each project. We're here to help you dive into the details, answering the questions on how to accurately estimate your costs and profit margin before you invest in a flip. How much can you make flipping houses? It depends on how good you are at the economic aspect of the game.

 

House Flipping Profit Numbers

When you look up how much you can make from house flipping, a few important numbers rise to the surface. First, you'll see estimates that house flippers can make over $86,000 a year. But it's not exactly a salaried job, so that kind of answer isn't really useful if you're planning to flip houses one project at a time.

You may see that the average house flip earns about $60,000 per property. That's a more useful number, but how is it reached? How do you achieve that goal?

Then there's the 70% rule, which suggests that you never spend more than 70% of the home's after-repair value (ARV) on renovations. That's cool, but how do you know how much you'll spend on renovations?

Let's dive a little deeper into the process of price-planning a flip for profitability.

 

Buy Low, Renovate, Sell High

The core premise behind house flipping is to buy distressed houses at a drastically low price, invest in renovations, and then sell the house for more than the purchase price and renovation costs combined.

To do that, you'll need a smart way to calculate the ARV or after-repair value. Houses that are shabby on the surface can go "shab to fab" with just a little strategic touching-up and a few modernized features. However, houses with foundation problems, structural water damage, and other more serious issues may cost too much to repair for a profitable flip.

Housing market also matters. If you can buy a distressed home for pennies (a few thousand) but a renovated home will benefit from the local housing market pressure, this can skyrocket your profit potential.

 

The 70% Rule in House Flipping

One of the best ways to ensure that you make a profit when house flipping is the 70% rule. Only spend 70% of the house's ARV: its final resale value. That 70% is both your purchase and renovation budget, ensuring that you get somewhere around 30% profits for every house you flip — with a comfortable margin in case of extra expenses.

The 70% rule requires you to know your ARV, purchase cost, and the cost of repairs it will require to get the house selling for top dollar on the local housing market.

 

Calculating the ARV

The after-repair value of a flip is the most important number in your calculations. You need to first have a full understanding of what the house needs to re-enter the housing market.

Identify Distressed Properties

First, look for homes that are selling for less than their real value on the market. These might be homes that have been vacant for a while, inherited homes, forclosed-upon houses, and properties that were recently vandalized.

Not all distressed homes are good flips, but those with "good bones" will offer the best profit potential.

Bring Your Inspector

When estimating whether a house is a good flip, bring the housing inspector. Ask them to help you determine the full scope of repairs that each house requires. Have a good idea of what each type of repair costs and/or have a few contractors on-call to give you a quick stack of estimates.

This will give you a list of repairs and costs for each house. Skip over homes with serious problems and focus on homes that look bad, but would be easy to renovate with surface-level repairs. You may be able to price one or two major investment repairs, if it fits in the 70% ratio.

Price the Home As If It Were Repaired

Consider what the home will look like when it's repaired. Count the square footage, bedrooms, bathrooms, and features that will exist when you're done. Consider the neighborhood, housing market, and demand for homes to buy or rent in the area. Look up the recent selling price of homes that share similar size, features, and location of the house you want to flip.

These estimates will give you a ballpark estimate of the ARV - what the house could sell for when you're done sprucing it up.

 

Subtract the Costs from the Selling Price

Once you have a realistic ARV, you can begin your profitability calculation.

• What percentage of the ARV is the buying price?
• What percentage of the ARV is the renovation cost?
• How much of the ARV is left after purchasing and repair expenses?

The answer to the third question determines your potential for profits. Remember to leave room in your budget so that a few unforeseen costs during the flip don't eat too deeply into your profit margin.

 

The Speed You Can Flip

If you're looking for an annual income number, naturally, this depends both on the efficiency of each property you flip and how fast you can flip a property. Professional house flippers can flip a house every two to six months, but first-timers are more likely to take between one and two years.

The size of the house, the extent of your renovations, and how much you DIY vs hiring contractors (and how fast each of those options might take) will all play a role in determining your flipping pace, and how fast you are making those 30% profits.

When talking averages, if the average flip provides $60,000 in profits and flippers make an average of $86,000 a year, that suggests slightly less than 1.5 flips per year.

 

Long-Term Income Plans from House Flipping

Of course, once you flip a property, there's no rule that you must immediately resell. If you're looking to build a real estate portolio and amass an income from rental properties, flipping can be both a satisfying and profitable approach.

Flipping homes and then renting them can help you maximize your profits-over-time, especially in a high-demand rental market. You can even keep focusing on your flip renovations with the help of a property management company to look after your tenants. Explore the landlord route to flipping profitability with Leaf Management.

How House Flipping Impacts the Housing Market

 

The Impact of House Flipping on the Market

There are not enough homes to go around. The population has been growing faster than the housing market for over a decade, resulting in the housing demand we know today. While this may be great for neighborhood prices, it also means that there are always more families looking for a new home than there are homes available to buy or rent.

Of course, the problem isn't just slow construction planning. It's also that many older homes are removed from the market because the properties are not sufficiently maintained. That is where the noble industry of house flipping finds its niche. What may seem like a profitable home renovation hobby really plays a vital role in the ecosystem of the housing market.

 

House Flipping: Bringing Homes Back To the Market

The best homes for flipping are those that have become too shabby on the surface for safe family life, but only require a bit of "elbow grease" to get them back into clean, safe, and modern condition. These homes need repainting, upgraded appliances, and perhaps a few simple replacements like doors and handrails before they are beautiful, modernized, and ready to welcome a new family in residence.

Each time a house flipper does their thing, a home that would have slipped into decrepitude is instead restored to housing supply and the available market.

 

Why Houses are Lost Without a Flip

There are many circumstances that cause houses to fall below the residential quality level. Often, a home will not be repaired or properly maintained for the last 10 or 20 years that it belongs to a single owner. These homes are inherited, but in a condition that is far from move-in ready with now-ancient appliances and many undtended maintenance problems.

In other situations, a home will experience damage that the owner can't afford to fix. The property is temporarily unlivable, but it's condition gets worse over time, the longer it goes unrepaired.

Home flippers keep an eye out for any house that needs only one major repair or a basic wave of upgrades - and through this route can rescue houses that might otherwise fall permanently out of the loop.

 

Increasing Livable Properties for Local Families

At any given time, the current housing supply is calculated by the number of move-in-ready homes on the market. Homes that are out of commission due to poor maintenance or damage cannot be included in the housing supply. This means they are not available for local families ready to buy or rent a home.

When a house flipper restores a home to the market, they are also increasing the local housing supply. Housing development of new neighborhoods can only go so quickly. The industry of house flipping, on the other hand, can restore many near-lost homes every year with fresh updates and attractive modern remodels.

Families are often delighted to buy or rent a home that has been recently renovated, featuring energy-efficient appliances and welcoming, safe, family-ready updates.

 

Restorations in the Hearts of Cities and Towns

Housing development works by creating ever-more-distant suburbs. More homes are created, but they also come with longer commutes and greater distances from the heart of nearby cities and towns. House flipping, on the other hand, often focuses on properties in high-demand neighborhoods where one home out of a dozen has slipped into disrepair.

These homes provide a shorter commute and closer access to features like shopping centers, entertainment, good schools, and local parks. Flipped homes are an essential part of the housing market, and many are even more modern and attractive than their neighbors who are updating more slowly under long-term owners.

 

Flipping Homes Make Housing Markets Thrive

What is the impact of home flipping on local housing markets? Flipping restores valuable properties back to the market, and increases the housing supply to provide desirable homes for local families. Flipping also rapidly modernizes properties in aging neighborhoods and ensures that restored homes stay on the market for another several decades with a single year (or less) of renovation work.

In other words, house flippers are an essential and beneficial part of the housing market, whether your plan is to quickly resell a property or build your own rental home portfolio of recently restored home.

Explore the potential of house flipping with an experienced property management partner like Leaf Management.