When I started flipping houses, I realised quickly that I needed as much information as possible so that I could go home and do a feasibility accurately.
To help me, I would be very thorough when inspecting the property, I’d take notes on each room of the house & take photos & even a video to remind me when I got home.
You might inspect a house and it requires everything, a new kitchen, bathrooms, flooring, lighting, plumbing, the works.
But still, some houses will require additional works that other do not such as:
1. Broken doors
2. Broken windows
3. Ceiling damage
4. Gyprock re-sheet
5. Wall removal/ Create open plan
6. Enclose a room
7. Re-stump
8. Patio/ shed/ outbuilding repairs
9. Gutter replacement
10.Roof restoration
11.Grass & retic
12.Fencing
6. Enclose a room
7. Re-stump
8. Patio/ shed/ outbuilding repairs
9. Gutter replacement
10.Roof restoration
11.Grass & retic
12.Fencing
The list goes on…
If you’re not thorough at your inspection, then you could well under allow for the renovation and this could result in a renovation budget blow-out.
Do everything you can to ensure you don’t miss anything and if you can go for a 2nd inspection before you make an offer.
