We can all relate to watching one of HGTV’s attention-grabbing fix and flip shows. Whether you’re watching Property Brothers, Fixer Upper or Love It or List It, it’s safe to say that every episode ends on a positive, lucrative note. And, despite the crushing problems that the cast faces along the way, it always turns around for the better – and in a matter of minutes.
As entertaining as these shows are to watch, they aren’t a true reflection of being a fix and flip professional. So, the next time you’re watching one of these real estate shows, do so for entertainment only. Otherwise, you’ll end up disappointed.
Here are the top three reasons why you shouldn’t follow HGTV fix and flip techniques.
Transformations take A LOT of time.
Fix and flip shows are drastically shortened. Sure, the whole process is crammed into a 30 or 60 minute episode, but they also seem to take place over the course of a few days. In the real world, things don’t work this way. Not only do you need time to fix up the home but also time to obtain the proper permits.
In the best states, the average time it takes to flip a house is 180 days. In the worst states, it’s over 200 days. Of course, this depends on the home’s condition, the work that needs to be done and how easily you can sell the home. Realistically, expect a minimum of six months to complete the transformation and get your home listed.
Knocking down walls is not that easy.
In HGTV’s real estate shows, knocking down walls looks effortless. Multiple people will grab a hammer and start taking them out with little effort. However, in real life, knocking down walls isn’t quite that easy.
First, there is a great deal of planning that goes into taking out walls because homes need good bones. What’s inside of the walls? Second, are you working with load-bearing walls? You will want to know the answers to these questions, trust us.
Plus, there are potential problems that you can run into, such as plumbing water and drain lines, electric cables, low-voltage wires, air ducts and more. These things will have to be re-routed by a professional contractor to achieve the look you want.
Bigger renovations don’t always lead to bigger returns.
Some of HGTV’s favorite renovations – kitchens and bathrooms. And, the transformations are nothing short of amazing. These shots may make for great viewing, but in real life, it’s usually best to do small-scale renovations.
Big renovations typically don’t result in bigger returns like they do in the shows. House flippers are better off replacing carpet, adding a fresh coat of paint and doing other light touches, especially if they’re new to the fix and flip world. Otherwise, they run the risk of spending too much time and money on a home, only to sell it for a modest cost.
The next time you turn on one of HGTV’s remodeling shows, enjoy it just as we do. But don’t apply their techniques in real life, otherwise they can lead to unrealistic expectations and disappointment.