Electrical and Plumbing Updating

[Jordan Deeney]

When do you need to update electrical and plumbing on a flip?

I am newer to the house flipping business, and a clear cut answer to this question has been evading me. 

For example, I am looking at a property built in 1953 that will have a fairly low/medium price point for a c+/b- area. Am I required to do anything by law here? Or does everything need to be updated to code? 

Or can I go in the middle and just update outlets to afci and gfci, update panel, and leave all the wiring intact? 

I know every area and municipality is likely different, but I'd love to hear what people are experiencing in their areas. 

And how much does price point and area impact what all you do to the electrical? 

Any insights on this same issue with plumbing would be greatly appreciated.

Thank you everybody!