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Updated over 1 year ago on .
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Upgrades? No upgrades?
Hello All!
I currently live in a 3-level townhouse that I plan to turn into a LTR. This is the first property that I bought using a VA loan and I did a IRRL back in 2021 to get my rate down to 2.25%. So, with that said I don't ever plan on selling this property. My current mortgage is $1,700 + $99 HOA per month. This property was built in 2017 and still has all the construction-grade finishes. For example, construction grade carpet throughout the house besides in the kitchen and entryway which are engineered hardwood ( that has seen its days). It also does not have a deck/patio or a fenced-in yard. We have done minimal upgrades to all the bathrooms ( painting, board and batten, adding new hardware). Other than that the whole house has been painted and thats it. As it sits now this house would rent for $2,700 a month. However, most properties in this neighborhood have not been updated at all (at least the ones being rented have not been). Additionally, my neighborhood is a very sought-after place to live. As a realtor myself, I know that the rental market and buying market is extremely competitive in my neighborhood.
Question:
I am thinking long term maintenance and durability.
Should I put LVP throughout the whole house?
or
Do LVP on the first and second floors, and keep the steps up to the third floor and bedrooms carpet?
Also, should I add a deck or patio?
I know it won't add a ton of value in the short term but I'm really shooting for a higher-end tenant that will love the property.
Any other recommendations are welcome!
Property Details:
1960 sqft
3bd 2.5ba
One car garage
Thanks, Chase