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The Quickest Way to Tank Your Flip Budget
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The Quickest Way to Tank Your Flip Budget
You can run the numbers, pad for contingencies, and still watch your flip budget go up in flames.
The #1 culprit? Scope creep.
Scope creep happens when your “must-do” renovation list quietly grows into a “while we’re at it” free-for-all. That new kitchen backsplash? Great idea — until it turns into replacing all the cabinets, upgrading appliances, and moving the plumbing.
How to Avoid It:
Lock the plan early. Decide what’s in and what’s out before demo starts.
Stick to the numbers. If an upgrade doesn’t boost resale enough to cover its cost, it’s a “no.”
Manage the crew. Contractors love to upsell improvements — sometimes for your benefit, sometimes for theirs.
Remember: the buyer never sees the bathroom you almost redid. They only see the one you finished on time and on budget.
Editors’ Note: Roger — the Flipping America guy who writes all your QuickTips — opened coaching spots this week for our readers at 25% off. He only has 2 spots left. When they’re gone, they’re gone. Use code REIQT at checkout. Get started. Get unstuck.
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