What does property flipping mean?

image showing man searching on internet with graphics of houses to illustrate flipping

Flipping means buying a property and selling it quickly for a profit.

The profit can arise because the original price was below market value, or because the property has been improved by refurbishments and/or adding value. For instance, adding an extra bedroom or reconfiguring the property. Other times the profit is due to an increase in the general property market?

With property flipping, it is important to focus on improvements which add to the property’s value, eg improving energy efficiency rating (EPC), optimising layout, or modernising a property. It’s also important not to over-develop, by spending more on the property than the maximum the property will be worth, taking into account the location.

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