Back during the height of the market, people were buying homes and flipping them for a nice, quick profit. So nowadays, people read into the hype of the news that the market is “bad” and it’s “hard to sell,” but that’s frankly just not true around Northern VA.
Flipping is still alive in Northern VA and especially the DC market. You’ll find many condos, townhomes, and even some single family homes who have had a quick face-lift and are back on the market for sale.
If you’re an investor thinking of getting into the market to flip a property, you’ll need a good current and future market analysis so you don’t break your budget or overimprove the property for the neighborhood.
If you’re a BUYER looking at a flip, you’ll want to make sure things were done to code and done correctly. Sometimes projects can get done hastily or by a newbie flipper and they cut corners. A good inspection will help educate you on what you’re actually buying, other than a pretty new home!