About one-quarter of Canadians would like to flip - not their lids, their houses.
According to a survey of 1,200 English TV viewers from across Canada, ages 25 to 54, conducted for HGTV by Vision Critical, about 25% of respondents have considered "flipping" houses as a source of income.
To "flip" a house is defined as buying a real estate property and re-selling it for profit a short time later after making significant improvements.
While 44% of respondents perceive house flipping as difficult, 40% reported knowing someone who has flipped a house. In addition, 31% of polled Canadians are interested in the house-flipping trend in general. You need to have some construction experience, you need a good real estate agent who knows the area and, most of all, you have to be prepared to win and lose."
Regionally, the survey results indicate that British Columbia residents are the most likely to know someone who has flipped a house (49%), compared to only 13% of respondents in Quebec.
Furthermore, 72% of British Columbia participants agree with the statement that house flipping can be a very profitable business, compared to 55% of Quebeckers. Sixty-two per cent of Ontario participants agreed with this statement.
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