There are quite a few television shows that depict flipping a home for a profit as being an easy task to accomplish. This is not always the case, though. If you think you want to dip your toe in the murky flipping waters, take the time to have the home inspected before investing in it. The following guide walks you through a few things that the home inspector will look for when inspecting a fixer-upper.
Some older homes contain asbestos insulation in them. If you plan to knock down walls, refinish ceilings, or add insulation to the house, you need to know if it contains asbestos. Removing asbestos insulation from a home can be very dangerous because the small spores can be breathed in and cause several health issues. If the home has asbestos insulation, consider the cost to hire an asbestos abatement company to remove the insulation before you buy the home.
Some older homes have electrical systems that will need to be replaced before the home can be flipped because the system simply cannot handle the power needs of a modern-day family. The inspector will check the system from top to bottom so you can know if it is in good conditions, needs minor repairs or upgrades, or simply needs to be replaced altogether.
Many older houses were designed to be inhabited by only a four- to five-person family. Many families are now much bigger and thus need drainage fields that can accommodate the needs of the family. The inspector can determine if there are issues with the drain field and how they can be addressed if needed.
There are times when mold can be growing inside of the walls of a home and it not be noticeable to the naked eye. The inspector has tools that can help him or her determine if there is any mold growth in the home. If mold growth is found, the molded areas will need to be treated and replaced to ensure a safe living environment for a family.
Once you know what issues are truly plaguing a home, you can better determine how much it will cost to get the house in sellable condition. Be sure that you take the time to consider if the asking price for the house and the repair costs will still leave you with enough room to make a profit before purchasing a home to flip.
For more information, contact a company like Building Inspector Of America.