Flippin' Difficult

Flipping homes. Sounds as effortless as flipping burgers: buy a house at a rock-bottom price, throw in a few renovations, and sell at a mind-boggling profit.


So how come Ottawa designer Ulya Jensen had to slash her client load by a fifth when she took on her latest renovate-to-sell project, a now-meticulously updated 1960s split-level in the Qualicum area?

"Everyone thinks they can flip a house, but it’s hundreds of hours of work," says the owner of Ulya Jensen Interiors (www.ulyajenseninteriors.com). "It’s really time-consuming and expensive even for me, and I’m in the design business and know the contractors and where to get materials at a good price."

Jensen, a veteran house flipper and host of HGTV’s Home to Flip, estimated she’s put $90,000 into the four-bedroom home. For most of us, who don’t have the industry contacts, design expertise or Jensen’s uncanny flair for holding down costs by repurposing materials, that number would likely be about 30 per cent higher.

Jensen has also staged the house for sale and is logging more hours by acting as her own real estate agent, using Grapevine’s DIY home-selling service. Asking price is $524,000.

The satisfaction, in addition to her profit, will come in knowing that the buyer gets a home that’s been renovated without pushing the selling price into the stratosphere.

Jensen bought the place after she was brought in to stage it for sale.

"Omigod," the effervescent designer said to herself on seeing it, "that’s my house to flip!"

The home met her basic requirement for a potentially profitable renovation: it was clean, well-maintained and obviously loved. Better yet, practically everything about the house was original. That meant she wasn’t paying for someone else’s ill-advised renovations that she would then have to redo to make the house market-worthy.

The home’s curb appeal — a sloping, well-tended front yard graced by a towering blue spruce, the stone and siding facade, a sprawling backyard with a deck and a big maple tree in one corner — also telegraphed opportunity.

Outside, Jensen replaced the roof. She replaced the entrance light, mailbox, house numbers, and front door hinges and hardware, all low-cost changes that add up to a big-time first impression. The door knob, she says, is the handshake of the house.

"You don’t want it ugly or wobbly."

The bright living room with its cathedral ceiling and painted beams includes a gas fireplace with one of Jensen’s prize finds: a white, solid-maple mantle and surround. She paid $500 for it through Kijiji, saving at least part of a tree in the process.

The kitchen has been replaced. A sleek quartz countertop sits astride medium-brown cabinetry.

One stretch of the L-shaped counter is extra deep, with stools facing the food preparation area. That same stretch of countertop separates the kitchen visually from the adjoining dinette area.

By putting thought and money into the room, Jensen avoided what Michael Martin, owner of Ottawa-based Michael J. Martin Luxury Renovations and chair of the Ontario Renovation Council, says is a common fix-and-flip error.

"People cheap out on the kitchen. But that’s where you want the Wow factor to go."

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