Buying a home, fixing it up, and selling it for a profit—otherwise known as "flipping”—has become a big business. However, before you buy a property to flip, you need to know what you're getting into, and what needs to be done to make it sellable. Learn more about why a home inspection needs to be a part of the purchase process to protect both you and future buyers below.

How Home Inspections Benefit House Flippers

1. Know What Needs to Be Done

Flipping houses is often a lot more complicated than replacing old flooring and updating appliances. Usually, the renovation process reveals problems with the electrical system, plumbing, or structural elements that must be fixed. Luckily, a home inspection will tell you what needs to be fixed for safety early on, which will help you make a more accurate renovation plan or walk away from a deal that could be disastrous.

2. Appeal to Buyers

When you sell a property, you must disclose any problems with it to potential buyers. Home buyers want to feel confident that the property doesn't have any significant defects, and mortgage lenders also want this reassurance, which is why most will require a home inspection before closing. By offering potential buyers an inspection report before they make an offer, they can feel confident enough to move forward. It's also a way to show that you addressed significant problems with your renovation, which can justify a higher price.

3. Avoid Common Issues With Foreclosed Properties

Home flippers often buy foreclosed properties, as they’re generally inexpensive. However, they come with their own set of common issues and challenges. For example, boarded houses often develop expensive mold problems, which should be factored in when deciding if you want to buy the property. Additionally, thieves sometimes steal copper piping and outdoor compressors from foreclosed homes, which will also add to your renovation costs. A home inspector will catch these issues, and similar ones, and include them in their report. 

If you’re considering buying a property to flip, or you’re selling a renovated property, turn to New Home Inspectors in Huntington Station, NY, for a comprehensive home inspection. These detail-oriented professionals have more than 30 years of experience in construction, and they provide accurate, same-day property condition assessments to residents throughout Long Island. State-certified and insured, they’re committed to excellence through continuing education and development. Learn more about their services online, and call (631) 368-1800 to arrange an inspection today.