House flipping is often seen as a professional service but anyone can give it a shot. However, if you want to be on the level of the pros, you have to put in a little extra time, effort, and money. Whether that’s contracting the right repair service, choosing top appliances from major brands, or redoing exterior cladding to weatherproof a home, there are a few key tips that will keep your house flipping project running smoothly.
Your Scope of Work
Before you even get started, you need to know how extensive your project will be. Are you completely gutting a house and starting over with the basics? Or are you taking an outdated home and putting in a refrigerator, water heaters, and modern touches? Having an end goal in mind will give you the foundation for the rest of your project.
Say, for instance, the weatherboard cladding on the house is in poor condition. This indicates that some of your home repairs are going to be more extensive. If the exterior cladding is in bad shape, what does the interior look like? Plus, when it comes to your cladding project, you’ll know right off the bat that you’ll need something like timber cladding that is constructed to last. Whether a horizontal or vertical board layout, weatherboard cladding made of timber is a true investment that will definitely interest buyers when it comes time to sell.
Unless you’re going to tackle everything as a DIY project—and more power to you—you’re going to need technicians and contractors on your side. Make a list of every service that you need, whether that’s an appliance repair specialist who works with Kenmore, GE, and Whirlpool washing machines or a construction company with years of experience and next-day service.
Your service area is going to matter greatly, too. Imagine that you live in Oahu. Naturally, you’re going to want to search for something along the lines of “appliance repair in Oahu.” You see listings from a company called Honolulu Appliance Repair that services your area and does quick refrigerator repair. Sounds like a perfect fit, right?
Every appliance repair company will have a defined service area. The appliances being repaired won’t matter either. From washers to dryers and beyond, you’ll only get the excellent service you’re looking for if the company works within your area.
This is probably the part you’re most focused on but you’re about to see why defining your scope of work at the beginning is so important. Think about a full gutting versus modernization of an outdated home. Which do you think is more expensive? If you said gutting the house, you’re absolutely right. The larger the scope of the project, the more you’re going to spend.
While this may seem like a no-brainer, too many people try to set their house flipping budget before knowing the extent of the work that needs to be done. Then, when they’re presented with final numbers, they realize that they’re going to have to either rethink their budget or make some painful cuts to their project.