"Buyers Beware" of Newly Renovated Homes

By
Real Estate Agent with Optima Properties BK 496540
‘Renovate’, according to the Merriam-Webster Dictionary means “ renew, restore, refresh, and rejuvenate all mean to make like new.”  When the phrase “completely remodeled or renovated” is used in the description of a listing, many homebuyers expect the entire house to be completely updated. But in residential real estate, a house advertised as “completely remodeled” may have several big-ticket items, such as the roof, HVAC system, appliances, pool, and windows that are either original or close end of their useful life.
 
This is particularly true with investor “Fix and Flips”. Buyers may find a newly flipped home more appealing because much of it feels new – but not all flips are the same. In any given price range, every property you’re going to look at will have its pros and cons. You certainly don’t need to avoid properties that are being flipped, but there are some things to watch out for if you’re looking at one.
 
Read the Full Article on Optima Properties' Blog

Comments (1)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Kim - "due diligence" is such an important part of real estate.  Good post.  

Nov 18, 2021 09:48 AM