Things to Look at When Buying a Home That Is a Lipstick Flip

Buying a home is an exciting milestone, but it comes with its fair share of challenges, especially when the home you’re eyeing is a “lipstick flip.” These properties have undergone quick, cosmetic renovations designed to make a good first impression. While a fresh coat of paint and updated fixtures might catch your eye, looks can be deceiving. It’s essential to dig deeper and ensure the home is in solid condition before making an offer. Here’s what you need to know.

What Is a Lipstick Flip?

A lipstick flip refers to a home that has undergone surface-level upgrades, often within a short timeframe and on a budget. These changes are typically aimed at enhancing curb appeal and aesthetics without addressing underlying issues. Consider new countertops over old cabinetry, fresh paint over damaged walls, or shiny floor finishes that conceal wear and tear.

While not every lipstick flip is problematic, some are done hastily or with poor-quality materials to maximize profit for the seller. As a buyer, your job is to spot potential red flags and ensure you’re not paying top dollar for a home with hidden problems.

Red Flags to Watch Out For

1. Mismatched Renovation Quality

Take a close look at the overall quality of the renovations. Do some parts of the home look pristine while others, like bedrooms or basements, feel neglected? Uneven upgrades could indicate a rushed or incomplete job. For instance, brand-new kitchen appliances paired with dated cabinets or sagging floors might signal that the aesthetic updates were prioritized over structural integrity.

2. Paint as a Cover-Up

Fresh paint is often used to cover stains, cracks, or other signs of damage. While it’s common for homes to be repainted before being sold, inspect the walls, ceilings, and corners carefully to ensure they are in good condition. Uneven surfaces beneath the paint, watermarks, or cracks can indicate deeper issues, such as moisture damage or a settling foundation.

3. Question the Quality of Materials

Low-cost materials can wear out quickly, leaving you dealing with replacements or repairs soon after you’ve moved in. Look for signs of subpar workmanship—peeling laminate floors, chipped countertops, or loose tiles are all signs that shortcuts might have been taken.

4. New Fixtures, Old Systems

A lipstick flip often focuses on making visible changes, such as new light fixtures or faucets, while overlooking aging systems that are expensive to replace. Pay close attention to plumbing, electrical, and HVAC systems, as these can be costly to update after purchase.

How to Inspect a Lipstick Flip

1. Check the Plumbing

Run faucets and flush toilets to assess water pressure and drainage. Look under cabinets for leaks or signs of water damage, and inspect exposed pipes for wear and corrosion. Inquire about the age of the water heaters and whether the plumbing systems have been updated.

2. Evaluate Electrical Systems

Ensure that all light switches, outlets, and fixtures are functioning correctly. Look at the breaker box—are the circuits labeled? Do they look updated or outdated? Flickering lights or ungrounded outlets may suggest the need for rewiring, a costly and disruptive process.

3. Examine the Foundation

Foundation issues can be hidden under cosmetic touch-ups, but they are some of the most expensive problems to address. Look for cracks in the walls, uneven floors, or doors and windows that don’t close properly. Outside, inspect the foundation for visible cracks or signs of settling.

4. Inspect for Hidden Moisture

Use your nose—musty smells can indicate mold or water damage. Pay attention to basements, attics, and underneath sinks, as these areas are prone to moisture issues. Consider bringing a moisture meter to detect hidden problems that aren’t visible to the naked eye.

5. Review the Roof and Exterior

The roof is a critical yet often overlooked component. Check for missing shingles, sagging sections, or signs of age. For the exterior, ensure siding, gutters, and drainage systems are in good condition. Neglected exteriors can result in expensive repairs down the road.

Hire a Professional Home Inspector

Even the most thorough visual inspection can’t replace the expertise of a licensed home inspector. An experienced inspector knows where to look for problems and provides a detailed report highlighting potential issues. If the report reveals significant concerns, you can negotiate with the seller or reconsider the deal.

What to Expect in an Inspection

A home inspection typically covers structural elements, plumbing, electrical systems, HVAC, and more. Be present during the inspection to ask questions and see issues firsthand. If specific problems arise, such as foundation cracks or outdated wiring, you should consult a specialist for further evaluation.

Protecting Yourself as a Buyer

1. Ask for Documentation

Request permits and receipts for any renovation work completed on the home. Proper documentation ensures that upgrades were done according to code and by licensed professionals. If permits are missing, that’s a major red flag.

2. Get a Home Warranty

If you’re concerned about aging systems or hidden issues, consider asking the seller to provide a home warranty as part of the deal. This can help cover unexpected repairs during the first year of ownership.

3. Don’t Skip the Contingencies

Include inspection contingencies in your offer to give yourself an out if serious issues are discovered. This safety net is crucial for protecting your investment.

4. Research the Flipper

If the home is being sold by an investor or real estate company specializing in flips, research their reputation. Online reviews or local word-of-mouth can shed light on whether they’re known for quality or cutting corners.

Final Thoughts

Buying a lipstick flip doesn’t have to be a gamble, but it does require diligence and a critical eye. By learning to spot potential red flags, thoroughly inspecting the property, and hiring professionals when needed, you can protect yourself from costly surprises. Remember, a beautifully staged home might catch your heart, but it’s the unseen details that truly matter. Take your time, ask the right questions, and don’t hesitate to walk away if something seems off—your dream home is out there, and it’s worth the wait.

If you’re ready to view homes for sale in the Prescott area, please call me. I will be happy to show you what is available! Kim Shaw 928-710-9148.