Скачать или смотреть Why a wrong House can ruin your whole life savings

What to LOOK for when BUYING A HOUSE and WHY FLIPPERS FAIL
When buying a house—whether as your dream home or an investment—there are red flags and key factors most first-time buyers or house flippers overlook. Missing these can turn a dream into a financial nightmare. Here’s what you should look for and why many house flippers fail:


---

✅ What to Look For When Buying a House

1. Foundation & Structure – Cracks, uneven floors, sticking doors = possible foundation issues. Fixes are costly.


2. Roof & Water Damage – A leaky roof or signs of mold can mean thousands in hidden repairs.


3. Plumbing & Electrical – Outdated systems may not pass inspection and can be dangerous.


4. Neighborhood & Location – Safety, schools, traffic, and future development all impact long-term value.


5. Inspection Reports – Always hire a professional inspector. Don’t just trust what sellers or agents say.


6. Hidden Costs – Property taxes, HOA fees, and insurance can eat into your budget.


7. Renovation Potential – Look for homes where small upgrades add value, not ones needing full-scale rebuilds.




---

❌ Why House Flippers Fail

1. Underestimating Renovation Costs – They budget $20k for a flip, but repairs balloon to $60k.


2. Ignoring Market Trends – Buying in the wrong neighborhood or at the wrong time.


3. Cutting Corners – Cheap renovations (bad flooring, quick paint jobs) turn buyers off.


4. Financing Mistakes – Overleveraging loans or not accounting for interest and carrying costs.


5. Time Mismanagement – Every month the house sits unsold, profits shrink.


6. Not Knowing Their Buyer – Over-renovating a house in a budget neighborhood, or under-renovating in a high-end area.




---

💡 Key Takeaway:
When buying a home, think long-term value and stability. When flipping, success comes down to research, realistic budgeting, and understanding the market. Flippers fail when they focus only on fast profits instead of solid planning.