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Real Estate
Reply to "Looking at a house, maybe red flags?"
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[quote=Anonymous]Just go in with your eyes open. Here are the problems we had with our flip (in our case, it was a long-term rental that was updated when the owners decided to sell): --Roaches/mice in the kitchen. --Squirrels in the attic. --Home Depot cabinets that were so cheap we ended up re-doing the kitchen (upside: we found how the bugs/mice had been getting in.) --Leaky windows during hurricanes --Found out we needed a new roof, which we had been told by home inspector was newer (upside: no more squirrels or leaky windows). --All the new sod died really quickly Our appliances, electrical, heating, a/c (which is ancient), and plumbing have all been good (we're in year 6). So, overall, it's been . . . an experience! I was very concerned about buying a flip, but we wanted this particular place because it backs to a park and there aren't many houses in our neighborhood that don't back to other houses. Now that we've made all the fixes, we love our place (and I love my new kitchen), but if we hadn't had the money to fix the problems, it would have been stressful. It also helps that houses have appreciated in the DC area so it was still a decent investment overall.[/quote]
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