The Flipper Fixer Upper

With Magnolia Silos and the new bakery complete, Chip and Joanna Gaines are ready to take on another special project. This time they're branching into (actually, returning to) the house-flipping market — updating a small Tudor in central Waco with hopes of turning a tidy profit.

Keep in mind: Price and stock could change after publish date, and we may make money from these links.

March 21, 2017

Back to Beginnings

It's deja vu all over again when Chip and Joanna return (temporarily) to their former avocation as house flippers. "Before the farm, this is something Chip and I did all the time," says Joanna. "We've been doing a lot of renovations for clients lately, but I think every now and then, to change things up, a good flip house will re-energize us."

BEFORE

The Giraffe House, so nicknamed in this case by Joanna, was built in 1937. It has three bedrooms, two baths, 1800 square feet, and the list price is $79,900. Renovation would entail updating the exterior, freshening up the living and dining room, a complete update to the kitchen and master suite renovation. The estimated reno costs were $85,000, with a total investment of around $165,000.

AFTER

The overall profile of the home's exterior is retained, but the look is transformed with new stucco for the main facade, new roof, a new dormer, window trim and fresh landscaping.

Living Room, BEFORE

The living room is in need of new paint, flooring and a fireplace overhaul.

Living Room, AFTER

The living room gets a fresh, clean look and added texture with white shiplap above the mantel, a white and gray color palette, redesigned fireplace and contemporary furnishings.

Living Room, BEFORE

Living Room, AFTER

The original archway doors, one of the home's defining features, were retained and, with new gray trim, become a focal feature in the overall design.

Living Room, Detail

New wood floors, in light finish and with herringbone pattern, are one of the highlight features in the living room remodel.

Living Room, Detail

All told, the living room renovation was a fairly major undertaking, with new drywall, a new front door, new windows and all new lighting.

Living Room, Detail

A new window seat adds character in the remodeled living space.

BEFORE

AFTER

The fireplace gets a facelift with new plaster, painted in gray, and a simple wood mantel in natural finish.

Dining Room, BEFORE

Dining Room, AFTER

The remodeled dining room features hardwood floors, stained original shiplap on the ceiling and new French doors that follow the arched door motif that's part of the home's original design.

Dining Room, Detail

Dining Room and Kitchen, BEFORE

Dining Room and Kitchen, AFTER

A wall is removed that separated the kitchen and dining room, opening up and redefining both rooms. Exposed woood beams help create a visual delineation between the two spaces.

Kitchen, BEFORE

Kitchen, AFTER

Key upgrades in the newly remodeled kitchen include enlarged windows to bring in more natural light, black stone countertops and a farmhouse sink.

Kitchen, BEFORE

Kitchen, AFTER

The home's original shiplap is exposed on the kitchen ceiling. A brick paver backsplash painted in white provides a constrasting backdrop for the black vent hood, dark grainte countertops and distressed tile flooring.

Kitchen, BEFORE

Kitchen, AFTER

Kitchen, Detail

Before

Prior to the renovation, this attic was used simply for storage.

Attic Nook, AFTER

Joanna used attic's existing features to create a fun study with built-in reading nooks.

Before

Attic Nook, AFTER

"This little study nook is one of my favorite rooms," says Joanna. "What I love about it now is that we've lightened it up, we've painted the floors, and we actually accentuated the vault."

Attic Nook, AFTER

The current vault was already here because this was attic space. What I wanted to do was just add a little more character, add this shiplap which we ended up staining and distressing.
—Joanna

Attic Nook, Detail

All I did was work with the outline of the room; created a built-in little nook, these built-in desks and this fun little reading nook back in the corner.
— Joanna

Attic Nook, AFTER

Attic Nook, Detail

Master Bedroom, BEFORE

The master bedroom was dark and drab but would require only cosmetic changes. Joanna's design plan called for new floors, paint and updated lighting.

Master Bedroom, Detail

In the master bedroom, the ceiling fan was replaced with a more contemporary design, the original floors were refinished, the walls given a fresh coat of paint and a single open shelf added above the headboard.

Master Bedroom, Detail

Master Bath, BEFORE

Master Bath, AFTER

The renovated master bath features a newly vaulted ceiling, a rock back wall, square subway tile, new wainsoting and reclaimed wood beam.

Master Bath, BEFORE

Master Bath, AFTER

Master Bath, BEFORE

Master Bath, AFTER

Master Bath, Detail

BEFORE

AFTER

Chip was able to negotiate a purchase price on "The Giraffe House" of $65,000 — about $15,000 below the original list price. Renovations totalled $85,000 for a total investment of around $150,000. With an asking price of $189,900, the potential proceeds could equal total around $90,000 — a sizable profit that could be funneled into Chip and Jo's next personal project.

BEFORE

AFTER

Exterior, Detail

Before

After

Finis

Chip and Joanna bid goodbye on this project as they proclaim their flip-house investment a "good buy." If you enjoyed this special Fixer Upper project, we think you might also like: A Brick Cottage for Baylor Grads.

Shop This Look

Photo By: Jennifer Boomer/Verbatim Photo A

Design Star: Next Gen

Budget Living Room Updates

Upcycling Ideas for Every Room

50 Things to Deep Clean

20 Backyard Makeovers

What's Your Birth Month Flower?

Fixer Upper

The Flipper Fixer Upper

Back to Beginnings

BEFORE

AFTER

Living Room, BEFORE

Living Room, AFTER

Living Room, BEFORE

Living Room, AFTER

Living Room, Detail

Living Room, Detail

Living Room, Detail

Living Room, Detail

BEFORE

AFTER

Dining Room, BEFORE

Dining Room, AFTER

Dining Room, Detail

Dining Room and Kitchen, BEFORE

Dining Room and Kitchen, AFTER

Kitchen, BEFORE

Kitchen, AFTER

Kitchen, BEFORE

Kitchen, AFTER

Kitchen, BEFORE

Kitchen, AFTER

Kitchen, Detail

Kitchen, Detail

Kitchen, Detail

Kitchen, Detail

Kitchen, Detail

Before

Attic Nook, AFTER

Before

Attic Nook, AFTER

Attic Nook, AFTER

Attic Nook, Detail

Attic Nook, AFTER

Attic Nook, Detail

Master Bedroom, BEFORE

Master Bedroom, Detail

Master Bedroom, Detail

Master Bedroom, Detail

Master Bedroom, Detail

Master Bath, BEFORE

Master Bath, AFTER

Master Bath, BEFORE

Master Bath, AFTER

Master Bath, BEFORE

Master Bath, AFTER

Master Bath, Detail

BEFORE

AFTER

BEFORE

AFTER

Exterior, Detail

Before

After

Finis

Shop This Look

Fixer Upper's Best Living Rooms 97 Photos

Our Favorite Fixer Upper Kitchen Makeovers 48 Photos

Fixer Upper's Best Master Bedrooms + Bathrooms 106 Photos

Fixer Upper: A Country Home Fully Reimagined 75 Photos

Fixer Upper's Finest Front Yards 60 Photos

Decorating With Shiplap: Ideas From Fixer Upper 30 Photos