16. The Property Conforms to the Neighborhood Square Footage
Make sure you know how the potential flip’s size compares to other homes in the area.
“If all of the homes in the neighborhood are 1,800-square-foot, three-bedroom, two-bath homes, you may have trouble selling a home that is 1,500 square feet, two bedrooms and one bath, unless you are willing to make a considerable financial concession,” stated a Rehab Financial Group blog post. “You will want your house flip project in this neighborhood to be at least 1,700 square feet, three bedrooms and two baths.”
“Don’t overdo it, though,” the blog continued. “A property with more than 2,100 square feet, four bedrooms and two baths could be too expensive for that neighborhood. Your project should conform to the neighborhood in square footage, but be different in other ways through your choice of finishes, landscaping and overall curb appeal.”
