House Flipping in Bloomington and Our Pet Peeves
Some of us at SYI stalk real estate. Is it Obsession or Professional Research? Potato, Potahto.
House flipping in Bloomington makes a lot of sense and is a hot past-time these days. Bloomington is filled with old homes that have been inhabited by the original owners for half a decade or, heck, half a century and have hardly an update. Busy people want turnkey homes. Why spend their time pulling their hair out over the myriad decisions of a home renovation when they could be drinking beer on the Upland patio or iced coffee at SOMA, taking book making classes at Pygmalion’s or training for the Hilly Hundred. The endless possibilities that people with kids daydream about while sitting at soccer and baseball games.
We live in a quite transient city, so the market turns over fast. It’s a good market for flipping a home if you grab the right home at the right price in the right location.
We, the stalkers of SYI, notice the flips that sell fast and those that sit for a bit. We see the flips that have renters in them because the sale didn't happen as quickly as the flippers had hoped. We question if it’s the price or the location—but we also wonder if maybe it’s the finishes. We are very aware of finishes, like it’s our job or something. Some of these finishes found in local flips make us scratch our heads because there are good, affordable options out there. Sometimes we feel bad for the buyer that settles simply because, heck, it’s done. Buyer: you deserve better!
Our list of pet peeves we have with some of the flips in this town
- Boob lights…everywhere
- Busy, often beige, tile with pink undertones
- Apartment grade pile carpet with pink undertones
- Accent tile that doesn't appeal to every buyer
- Poorly placed cheap pendants over the island and kitchen sink and not well coordinated with each other
- A fridge that sticks out into the passage space, in effect eating the kitchen
- Poor flooring transitions
- Lack of coherence and consistency throughout the home
- Expensive but overly busy countertops
- The ubiquitous 4” backsplash
- A renovation that doesn't match the style of the home
- An exterior that is mismatched
Investors! Friends! If you are pouring a ton of money into a flip, please, don’t mess it up by picking poor finishes. Get top dollar. Hire an interior designer for a few hours to develop a coherent plan. Let them (us!) choose the finishes that fit the budget. You won’t regret it.