How to Know If a House is (or isn’t) Worth Flipping

Whether you love the process of updating your own home or you just love to see a big home renovation reveal on your favourite HGTV Canada shows, it can be tempting to dream about getting into flipping houses – but it isn’t always as easy as it looks. As the teams are quickly learning on Anita and Ken Corsini’s new competitive renovation show, Flipping Showdown, not every house is created equal when it comes to flipping potential. Inspired by the Flipping Showdown teams, here are five signs that a house is worth flipping – and five signs that it totally isn’t.

Watch Flipping Showdown on Sundays at 9 p.m. ET/PT. It is also available on the Global TV App, and on STACKTV with Amazon Prime Video Channels. HGTV Canada is available through all major TV service providers.

white kitchen with stainless steel appliances

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Worth it: It Has a Prime Location

Whether you’re shopping for your own home or finding houses to flip, it’s all about location, location, location. Consider key elements of the potential home’s location (such as the neighbourhood and the comparable sales prices). While you can always update the look of a home, its address won’t change – so be sure to prioritize location. For their starter home project shown here, a great location was an advantage for Colin and Christina’s team.

open kitchen with white cabinets and black hardware

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Worth it: It Has a Functional Layout

When you’re finding houses to flip, a good layout is key. While you’re likely already planning ways to update the finishes, a functional layout that doesn’t need to be revamped – AKA a layout that won’t require the expense of moving plumbing or electrical – is a major win for the budget. Here, Mike and Amy took advantage of their project’s existing kitchen layout to create a bright new space while staying within budget.

three men taking down ceiling in demo in flipping showdown

HGTV

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Worth it: It Aligns With Your Strengths and Experience

Labour is a huge cost – and detractor from your profit – when flipping houses in Canada. With this in mind, if you’re qualified with a special skill that a particular house could benefit from, this could make a potential house a better fit. For Chris and Cam’s starter home project, for example, vaulting the ceiling between the living room and kitchen was a big part of opening up the space. Because they knew how to do the job, they were able to help with the labour and keep costs down on their flip.

Watch: A Safe and Sturdy Home (Reveal)

Residential house with hammock in garden

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Worth it: It’s Sitting on a Stellar Lot

When considering a flip, remember to look beyond just the building structure – it’s also important to think about the property as a whole. Land is valuable, so a home with a large yard or lot can garner a big profit with an updated home. When choosing their first Flipping Showdown project, for example, Mike and Amy considered the starter home’s one-acre lot as a major selling feature.

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Worth it: It Lacks Curb Appeal

A home’s curb appeal makes a major impact on buyers, yet factors like landscaping, paint and a front door are relatively inexpensive to update – which makes a home with lacklustre curb appeal an opportunity to get a lot of bang from your flipping buck. Need ideas for how to quickly update a house’s curb appeal? Here are seven ways to transform curb appeal in just a day.

Watch: Old New Orleans Home Transformed Into a Spa-Like Oasis

Hosts Ken and Anita Corsini during filming of Flipping Showdown

HGTV

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Not Worth it: It’s Not in the Budget

As Anita and Ken explain on Flipping Showdown, strong budgeting and a healthy return on investment are essential to success when getting into flipping houses. While you may be able to envision a stunning transformation with a large investment, if you’ll need to spend too much to get the home into sell-worthy condition, it may not be worth it.

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Not Worth it: It Will Take Too Much Time

Similarly, consider a realistic reno timeline for a flipping project before jumping in. Updates that will take months to complete might indeed transform the home, but they’ll also eat away at your flipping budget. If you know that a house will take a long time to bring it to sellable condition, it might not be a good investment.

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Not Worth it: It’s Full of Red Flags

As Colin and Christina found when they discovered leaky cast iron pipes throughout the starter home they set out to flip, you can’t always anticipate the budget-crushing surprises you’ll find behind the walls. However, if you notice red flags and major underlying problems from the get-go, don’t ignore them. Look for (and avoid) issues like major plumbing problems, mould or structural damage.

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Not Worth it: There’s No Room for Storage

As Anita advised the teams, finding space for storage in the kitchen is key to a successful flip because people who may actually live in the home will look for these kinds of details. If a layout lacks storage, make sure you have enough space to incorporate solutions (as Colin and Christina did in their flip home’s kitchen by adding a small pantry).

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Not Worth it: It Doesn’t Fit in

While a super unique home may be special, it’s likely not a good fit for a flipping project. When choosing a home to flip, look for a house that’s similar in style to other homes in the area, as a home that stands out too much may have a harder time selling.

Watch: Rustic Cottage Reimagined as a Cozy Scandinavian Lodge