Blog>Cost Guides>How much does it cost to flip a house?
Last updated: 31 March 2022
How much does it cost to flip a house?
Flipping a house can be a great way to make money as well as gaining new skills. Find out the average cost to flip a house.
If you have the time, money, and knack for flipping houses, you could make a neat profit from it. Plus, it’s a great feeling to be able to convert a property from something unliveable to desirable.
If this sounds appealing, you might ask yourself, ‘how much does it cost to flip a house?’
The answer will depend on a number of factors. But, we're here to help you figure it out.
What is the average cost to flip a house?
| Item (for an average 3-bed house) | Cost range (+VAT) | Average cost (+VAT) |
|---|---|---|
| New gas supply | £500 - £2,500 | £1,500 |
| New heating system | £3,000 - £8,500 | £5,500 |
| Rewiring | £4,000 - £8,500 | £6,250 |
| Windows | £2,500 - £8,000 | £5,250 |
| Replaster walls | £10,000 - £15,000 | £12,000 |
| Replaster walls & ceilings (re-skim existing) | £5,000 - £12,500 | £8,750 |
| Replaster walls & ceilings (hack off existing) | £16,000 - £32,000 | £26,500 |
| Replace skirting throughout | £2,200 - £3,800 | £3,000 |
| Paint walls & ceilings | £5,000 - £7,000 | £6,000 |
| New cloakroom w/c (including tiling) | £1,500 - £2,500 | £2,000 |
| New kitchen | £7,000 - £25,000 | £17,500 |
| French doors | £1,500 - £3,500 | £2,500 |
| Kitchen extension (12 m2) | £15,000 - £24,000 | £19,500 |
| Skirtings for new extension | £200 - £500 | £350 |
| Knock down walls | £500 - £3,500 | £2,000 |
| Damp proofing course | £500 - £5,000 | £2,750 |
| New roof | £6,500 - £18,000 | £12,250 |
| TOTAL | £43,530 - £110,350 | £76,690 |
| Last updated: July 2024 Our costs are ballpark averages - get a local tradesperson to quote now | ||
To help you decide whether you want to buy a house and flip it, you'll want to know what the average cost to flip a house is. How much you spend will depend on the amount of work required to make your property a home.
For example, if you check out our house renovation cost guide, you can see that new windows for your house might cost around £2,500 - £6,000. On the other hand, a new heating system could set you back by up to £8,500.
As a ballpark cost, the average cost to flip a house could be between £38,000 - £74,000 for a three-bedroom property - this could be higher depending on the amount of work needed and the cost of the fittings chosen.
Labour cost to flip a house
Let’s face it - you will need to plan a lot before you start the renovation process, and it helps if you know how much you’d be paying people for the work.
Plumbers and electricians generally have similar daily rates, ranging between £200 - £400 per day.
Other tradespeople, including roofers, carpenters, painters, plasterers, and general builders, will charge around £200+ per day.
General labourers and trainees will cost around £150 per day.
Of course, these are just daily rates, so you’d need to know how long the task is going to take. It's best to speak to tradespeople to find out if they charge by the hour, a day rate or for the total project.
For example, rewiring the entire house will take around 6 - 15 days. On the other hand, you could change a few light fixtures in a few hours.
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| Project | Unit | Cost - low | Cost - high |
|---|---|---|---|
| House extension | Per project | £25,000 | £100,000+ |
| Garage conversion | Per project | £7,500 | £20,000 |
| Loft conversion | Per project | £27,500 | £75,000 |
| New bathroom | Per project | £3,650 | £8,000 |
| New kitchen | Per project | £10,000 | £25,000 |
| Conservatory | Per project | £10,250 | £16,750 |
| Downstairs toilet | Per project | £500 | £1,250 |
| Central heating | Per project | £2,500 | £8,500 |
| House renovation project manager | Per week for 50% of the project duration | £1,200 | |
| Last updated: May 2024 Our costs are ballpark averages - get a local tradesperson to quote now | |||
Additional costs when flipping a house
In addition to labour costs, you may also want to consider other costs involved, like hiring a skip during the renovation process. You may also want to redesign or landscape the garden.
You may also have to pay legal fees, estate agent fees, stamp duty, survey fees, holding costs, and tax on the profit you make. You will also need to consider the cost of finance too, whether that's through mortgage repayments/interest or opportunity cost.
Finally, you may need to get planning permission, for which you may need to pay an additional fee.
All of these can make the average cost to flip a house higher.
How long does it take to flip a house?
Again, how long you take to flip a house depends on how much work you’re planning to do. You can do superficial improvements, like a fresh plaster or coat of paint, in just a few weeks.
On the other hand, If you’re planning to gut the house and redo it completely, you’re looking at a few months.
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What should I look for in a house that I want to flip?
To make it profitable for you, you need to make sure that the house you buy to sell is worth it.
The first thing you need to do is check if the renovations required don’t exceed the final value of the property. You don’t want to buy a house, renovate it and then realise you’ve spent more than you will earn from it!
The second thing to check is where it’s located. As you’d know, when it comes to property, it’s all about location, location, location. If the house is in a desirable area, with schools, transport, amenities around it, you know you’ll get a good price for it.
How do I flip a house for the first time?
If you’re trying your hand at flipping a house for the first time, the first thing you need to do is get organised. Spreadsheets are your friend.
The first thing you need to do before you start the work is figuring out what work you need to do.
Our house renovation checklist is a great place to start.
Also, if you get a full survey, you will have a good idea of what needs to be fixed. That could be your starting point.
After you have a list of jobs that you need to do, contact tradespeople in your area to request quotes. Make use of our request a quote tool to make it easier. Simply enter information about the work you need and enter your postcode and we'll send it to three tradespeople in your area.
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FAQs
Can you flip a house with 100k?
This will depend on a lot of factors. If you're buying a cheap property in the north, you can potentially flip a house with that money. But the further south you go, the more difficult it will be. It will also depend on the amount of work needed.
How many houses can you flip in a year?
Legally, there is no limit to how many houses you can flip in a year. It depends on how much time and money you have to invest. Say you plan to invest all your money in one house at a time. If each house takes two to three months, you could potentially flip four to six houses in a year - but this will of course be dependent on if there are any chains when buying the properties.
Is there a tax on flipping houses in the UK?
You will need to pay income tax on the profits you make by flipping a house. There are different rates of tax for a house that was previously rented and a house you’ve bought, renovated, and sold.
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